penny stocks on robinhood

As much as people rag on it, Robinhood continues to grow in popularity along with penny stocks on the platform. During the first quarter of the year, it outshined all other major brokers as far as growth is concerned. The mobile broker posted a record of 3 million new accounts in the first quarter. 

Comparatively speaking, Charles-Schwab clients opened a record of 609,000 new brokerage accounts. Over 280,000 came in March alone, according to the company’s most recent earnings report. Net new accounts for Etrade also surged during the first quarter. The broker credited for revolutionizing electronic trading reported over 363,000 net new accounts. That’s a jump of nearly 170% from 2019’s first quarter.

But the shining star here is Robinhood and penny stocks are a big target for its userbase. One of the interesting highlights of the application is the data it shows. It may not have the best charting setup, but it does give a look into money flow, or rather, where interest might be heading. If you look at Robinhood penny stocks and blue-chips both show how many user accounts hold shares.

[Read More] 3 Penny Stocks To Watch With High Volume In July

This figure obviously changes throughout the month. But rises or drops in that number could give a bit of insight into whether or not certain penny stocks are gaining or losing popularity among traders. With about two weeks left in the month, we’re taking a look at some penny stocks on Robinhood growing in popularity this month. Did they make your list?

Penny Stocks On Robinhood To Watch #1: ReWalk Robotics Ltd.

This year, ReWalk Robotics Ltd. (RWLK Stock Report) hasn’t been on the watch list as frequently as it probably could have. But the sporadic action in RWLK stock hasn’t given way to a clear trend in general. However, since April, RWLK has actually climbed roughly 290% from April 1st to July 22nd. There was even a climb to highs of $2.10 during that time. But it would appear the technical trend remains intact, unfortunately. Why do I say “unfortunately”? Like many penny stocks, technical levels of support and resistance have played a role in continuation patterns or, rather, lack thereof.

In the case of RWLK stock, shares continue to test the 200-Day Moving Average but fail to break above it. That’s been the trend this year. Prior to that, it was the 50 Day Moving Average that acted as resistance. Moving beyond that, ReWalk is once again testing its 200 Day Moving Average. The company gained some attention after the company’s CEO was on Fox Business discussing easier access to payents and insurance coverage for its walking devices. Following this news, trading volume surged to some of its highest all year.

The big question here is whether or not RWLK stock can break through this level. Earlier this month ReWalk announced the Centers for Medicare and Medicaid Services issued Healthcare Common Procedure Coding System Level II Code K1007 in response to ReWalk’s application. This decision, which will be effective on October 1, 2020, establishes the first such code for exoskeletons. As of right now, roughly 5,800 accounts hold shares of ReWalk stock on Robinhood.

robinhood penny stocks to watch ReWalk Robotics Ltd (RWLK stock chart)

Penny Stocks On Robinhood To Watch #2: Houghton Mifflin Harcourt Company

Houghton Mifflin Harcourt Company (HMHC Stock Report) is falling in line with the rest of the EdTech penny stocks to watch this month. With places like California pondering the going back to school conversation, EdTech could be the next niche to look at. It also appears that in July, traders have been attracted to some of these names. Whether or not it’s just the flavor of the month or if there’s legs for a longer-term run are yet to be seen. The case can be made, however, that the market is taking notice of some distance and e-learning penny stocks right now.

[Read More] 4 Penny Stocks To Watch In July 2020; 1 Up 95% So Far

HMHC stock had a hype-fueled move last week but came back down as quickly as it went up. The move was initially based on rumors of sales contracts. The company later came out to refute these statements to set the record straight. However, this week it would appear that there’s more momentum picking up after the company released some news recently. Houghton Mifflin Harcourt introduced Teacher’s Corner this month. It focuses on remote education and includes features such as curated content, virtual events, and coaching.

“Educators are facing challenges that we have never seen before as we approach the Back to School season. The global pandemic has ushered in a new connected era of education, and laid bare the need for inspiring professional learning that centers teacher agency and adds deeper value to day-to-day teaching,” said Amy Dunkin , General Manager and EVP of Professional Services at Houghton Mifflin. Right now just over 13,000 accounts hold shares of this penny stock on Robinhood.

robinhood penny stocks to watch Houghton Mifflin Harcourt Company (HMHC stock chart)

Penny Stocks On Robinhood To Watch #3: Inuvo Inc.

Shares of Inuvo Inc. (INUV Stock Report) has seen a steady rise in price during July. Pivoting off of its 50 Day Moving Average, INUV stock moved up from around $0.55 to highs of $0.72 this week. It was one of the penny stocks we took a closer look at in early June as the company started to turn heads. The company is in digital publishing and advertising.

Inuvo’s IntentKey has the ability to associate various audience signals and as a result, predict intent. This AI can interpret tens of millions of signals simultaneously, grouping for example signals related to safety within the context of social distancing and online car buying. Essentially, the correct audience can be directed towards their desired online experience.

This week, INUV stock is back in focus after another big update from the company. Inuvo reported how the IntentKey has helped a dairy board drive brand awareness and demand for their dairy products. According to the company, the dairy board wanted to reach distinct groups that included dairy enthusiasts, household cooks, and generally audiences looking for a healthy lifestyle balance. The IntentKey AI technology was quickly able to identify these signals and automatically build a look-a-like audience set aligned with the diary board’s objectives. Right now just over 18,000 accounts hold shares of INUV stock on Robinhood as of today.

robinhood penny stocks to watch Inuvo Inc. (INUV stock chart)

Penny Stocks On Robinhood To Watch #4: Boxlight Corporation

Boxlight Corporation (BOXL Stock Report) is in the mix with HMHC stock as well. The company gained attention recently thanks to the driving force behind education technology stocks. Remember COVID-19 isn’t just impacting biotech as some might think the only option here is coronavirus vaccine stocks. You also have to consider other industries and sector that could benefit. The push for virtual education has also joined the conversation recently.

[Read More] 3 Penny Stocks To Buy Under $1.50 Right Now, But For How Long?

BOXL stock started jumped about 10 days ago as speculation started building. On July 12th we started to follow this exact trend of speculation. Here’s what we said:

As we’ve seen, stay at home orders have caused parents to focus on education for their children in an “at-home” setting. That would mean more reliance on technology right now. Last month Boxlight announced the release of MimioConnect. This is its cloud-based teaching and learning platform that helps teachers streamline lesson delivery in remote and blended classrooms.

Since then, that idea has actually grown into a whole sympathy sector for edtech penny stocks. Something to consider right now is that as big as this move has been, Boxlight also filed a shelf registration for up to $150 million in stock sales by the company. Could this pose dilution risk down the road? If BOXL stock is on your list, it might be something to keep in the back of you head amid this meteoric rise in July. Right now over 30,000 accounts hold shares of this penny stock on Robinhood.

robinhood penny stocks to watch Boxlight Corporation (BOXL stock chart)

Penny Stocks On Robinhood To Watch #5: MicroVision

Similar to some of the penny stocks we’ve followed for longer than a few days, MicroVision (MVIS Stock Report) has been one of the love/hate penny stocks. While it’s been more love than hate for the most part, MVIS stock recently went parabolic jumping to highs of $3.45 and dropping to lows of $1.91 within the matter of 4 sessions. On July 22, MVIS stock is back on the rebound and with over 50,000 accounts on Robinhood holding a position, there’s no shortage of people watching.

We first starting covering this company back in mid-April. MVIS stock traded around $0.25. The penny stock has rallied to levels not seen since 2017. MicroVision is the creator of PicoP® scanning technology. It’s a mini laser sensing and projected display solution.

MicroVision’s technology can be used in products for interactive projection, consumer light detection, and ranging (LiDAR), automotive LiDAR, and augmented and mixed reality. There’s been a lot of hype and speculation floating around. But to date, none of them have been confirmed. The company hasn’t even tweeted anything since late June. Needless to say, MVIS stock has picked up momentum this week. Is that a sign of a reversal or just a short-term spike before the next move lower? Drop us a comment below if MVIS is one of the penny stocks on your list right now.

robinhood penny stocks to watch Microvision (MVIS stock chart)

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Junior Gold Stocks Creating Massive Opportunity for Investors!

An Immediate Stock Alert is Being Called On: IMC International Mining Corp…

Penny Stock Liberty TripAdvisor Climbed 2,871% In A Day; How?

Shares Of Liberty TripAdvisor Holdings Inc. B Shares Left The Penny Stock…