4 Penny Stocks On Robinhood & WeBull Gaining Interest In July 2020
When it comes to penny stocks on Robinhood and WeBull, we’re usually talking about stocks that younger traders are watching. Despite the fact that these two popular platforms have users of all ages, the main base is typically under 40 years old. As the media likes to call them, millennial trading apps are gaining ground this year. It might have something to do with the fact that millions of people are sheltering in place.
In fact, if you look at reports from the first quarter, online brokers are growing. Some of the largest growth has been seen with these mobile-based trading apps. Robinhood, for example, serves more than 10 million customers with an average client age of 31. It saw user growth boom to the tune of 3 million new subscribers in the first quarter.
On the flip side, while data hasn’t yet come out from WeBull, users there are able to create their own communities. While traders on platforms like ETrade, TD, Fidelity, etc. can only place trades, WeBull’s community brings social media into the fold. Message boards and discussion feeds are now becoming a bigger part of the market landscape. Regardless of the broker, however, one thing’s consistent right now and that’s attention on penny stocks.
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Ever since the March sell-off, stocks under $5 are captivating the attention of new traders and for good reason. Earlier this year and even up to last month, we’ve witnessed some historic breakouts. I’m not just talking a few hundred percent either. Some penny stocks have gone on to run thousands of percentage points in less than a week at times. Something to remember is that just as quickly as they go up, penny stocks can fall. So if you’re braving these volatile waters, don’t forget to have a gameplan before hitting the “buy” button.
Penny Stocks On Robinhood & WeBull To Watch: Celsion Corporation
Celsion Corporation (CLSN Stock Report) has been one of the penny stocks on Robinhood & WeBull to watch for a while. We first started writing about in back in November. At the time the company was focusing on its ovarian cancer treatment. Celsion focuses on it oncology pipeline of treatments and throughout most of 2020 it has executed on key trials. In March, its GEN-1 treatment obtained orphan drug designation from the European Medicines Agency. It followed up with news in May that the Data Safety Monitoring Board suggested it proceed to Phase 2 of its OVATION 2 study in advanced ovarian cancer.
As these milestones have continued, so has the market momentum. Since November, CLSN stock has climbed from under $1.30 to highs of $6.50. This type of progress and new trials take money, obviously and as we’ve come to know, when penny stocks raise money, share prices usually slip a bit. That’s all dependent on the terms of the agreements. But for the most part, discounted offerings are utilized and tend to see stocks slide. In the case of Celsion, its offering announcement in late June triggered a sell-off. It saw CLSN stock drop as low as $3.09.
Interest could have started to come back late last week. This time the focus is on the company’s liver cancer treatment. Celsion previously confirmed that the independent Data Monitoring Committee is scheduled to meet during the first half of July. It will conduct the second pre-planned interim safety and efficacy analysis of the Phase III OPTIMA Study with ThermoDox® plus RFA (radiofrequency ablation). This study includes patients with hepatocellular carcinoma, or primary liver cancer. Considering there’s 10 days left before July hits the halfway point, this could be something on investors’ minds.
Penny Stocks On WeBull & Robinhood To Watch: Electrameccanica Vehicles Corp. Ltd.
Electrameccanica Vehicles Corp. Ltd. (SOLO Stock Report) was one of the penny stocks on WeBull and Robinhood to watch late in the second quarter. Of course, things like Tesla’s record stock price and Nikola’s IPO have helped bring more attention to EV stocks. Electrameccanica has also benefited from growing attention among small-cap traders.
The first time we looked at SOLO stock, shares were hovering around $1.36 and speculative buzz started building around the company. Since then, SOLO climbed as high as $3. It then pulled back, raised $20 million and started climbing at the end of Q2. Paul Rivera, Chief Executive Officer of ElectraMeccanica, talked about Electrameccanica expansion plans in a recent PR.
“To continue to build awareness and meet consumer demand, we are pleased to announce that we are accelerating our expansion into key markets – Arizona and Oregon – by bringing our SOLO EV to Macerich’s upscale Scottsdale Fashion Square and next, Portland. Our updated plan to open new direct-to-consumer retail locations at high-traffic retail centers in EV-friendly cities provides a unique opportunity for potential customers to learn more about ElectraMeccanica and the SOLO.”
Shares of SOLO stock saw a surge of interest from users on “millennial platforms”. Heading into this week, nearly 30,000 accounts hold shares of SOLO on Robinhood.
Penny Stocks On Robinhood & WeBull To Watch: Gevo Inc.
Gevo Inc. (GEVO Stock Report) has had one of the worst years ever in 2020. After an attempt to rebound from April to June, GEVO stock was hit again in July. Shares fell from over $1 to as low as $0.46. What was the main culprit? An upsized offering for $18 million at a price of $0.60 per share.
What’s more, is the specifics of the use of funds weren’t that specific. In its press release, the company simply said it would use funds for “general corporate purposes”. Despite this being the case, GEVO stock saw some after-hours trading action late Thursday afternoon.
Prior to the holiday weekend, GEVO stock reached highs of $0.51 after the closing bell on July 2nd. While this is the most recent development, Gevo may have seen sector interest bring some momentum to the market. The company focuses on renewable chemicals and biofuels. Furthermore, the company has a portfolio of long-term, take-or-pay contracts for its products.
As of the last prospectus for that $18 million raise, the company listed several contracts with notable clients. These included Delta Air Lines, Scandinavian Airlines System, and HCS Group GmbH to name a few. Gevo also holds 118 patents and patent applications directed to its technologies and specific methods & products. With a surge of interest in things like alternative fuels and electric vehicles lately, is GEVO stock benefiting from a ripple effect within that niche? In any case, nearly 9,000 accounts hold shares of this penny stock on Robinhood heading into the week.
Penny Stocks On WeBull & Robinhood To Watch: Nokia
Nokia (NOK Stock Report) has long-been on the list of Robinhood penny stocks to watch. Even before the surge of new interest in the stock market, NOK stock has been one of the popular 5G penny stocks. Much like its stock price, interest in Nokia has grown on platforms like Robinhood. Looking back to articles from before the March sell-off show NOK stock was held by less than 60,000 users. Heading into the new week this week, more than 122,000 accounts hold shares of the 5G penny stock.
In addition to that, while NOK hasn’t been one of the parabolic movers, it has seen significant gains thus far. Since reaching lows of $2.34 in March, shares have climbed as high as $4.54. This coming Thursday (July 9th) could be a date to mark down if this is on your list right now. The company will host a virtual event: “The Switch is on,” from 9 a.m. – 10 a.m. Pacific Time. Nokia President of IP and Optical Networks, Basil Alwan, plans on sharing company news about a “new era of data center networking” that it’s branding #TheSwitchIsOn.
Nokia is likely one of the more well-known names on the list. The company has been around for quite some time. It was originally founded as a paper mill company in 1865. The telecomm spin didn’t come until the 90’s with the first GSM call was made in 1991 using Nokia equipment. With a race for 5G, stocks like NOK have remained a focus.