Penny Stocks Are Gaining More Attention From Traders On Robinhood In August
Whether you’re trading penny stocks on Robinhood, WeBull, TD Ameritrade, Etrade, Interactive Brokers – whichever penny stock broker – you always want to gain an edge. One of the sought after features that Robinhood, in particular offers is the ability to “follow the money” and see how many accounts hold particular shares. What’s even more interesting is that this “indicator” has started gaining more awareness among traders.
Let’s face it, 2020 has likely seen one of the biggest years for new trading account openings in recent history. Never before has the world as a whole been in such a situation where millions are stuck at home. In light of that scenario, it doesn’t come as a surprise that day trading has grown in popularity. Even sports betters were out of work until recently. That is unless you know the spread on watermelon seed spitting competitions. In that case, you’re probably cleaning up right now.
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As a new trader, should you only buy penny stocks on Robinhood? In my opinion, Robinhood looks pretty and is easy to use. However, for active traders, there are other options out there that give better execution times on trades. Also, let’s not forget the shortcomings of the app itself.
There’ve been times that the entire platform shut down, leaving users without ways to even sell a position. However, I know there are likely millions of users of the app so no matter where you stand on the topic, penny stocks on Robinhood, in particular, have grown in popularity.
Penny Stocks On Robinhood Under $3.25: AgEagle Aerial Systems
If you read our updates frequently then you’re no stranger to AgEagle Aerial Systems (UAVS Stock Report). There’s been plenty of speculation buzzing about AgEagle. While a lot has happened since we first started following along in April, the current focus is what’s going on at the company’s new manufacturing facility. This week the company announced that it has finalized its site selection process and chosen its new leased manufacturing facility in Wichita, Kansas.
A recently filed patent appeared to do with drone delivery services. This is important or could be important considering recent developments. Author Carrie Rengers of Wichita Eagle recently wrote, “Part of what is fueling speculation related to Amazon and AgEagle is that around the time of AgEagle’s ‘major eCommerce company’ announcement, there was reportedly a video online showing Chilcott demonstrating how to unload an Amazon drone from its crate.”
Reuters also reported that the Trump administration will reinterpret a Cold War-era arms agreement between 34 nations to allow U.S. defense contractors to sell more drones to allies. With all of these late-breaking developments, is UAVS stock set for another move in August? From the look of things, Robinhood traders have taken a liking to the company. More than 53,000 users currently hold shares of the company’s stock.
Penny Stocks On Robinhood Under $3.25: Zosano Pharma Corp.
Another one of the penny stocks on Robinhood to watch under $3.25 is Zosano Pharma Corp. (ZSAN Stock Report). The penny stock has experienced a strong uptrend over the last few days with Tuesday becoming the first time testing its 200-Day Moving Average in over a year. This initially began late last week, which we had highlighted.
Traders began circulating a page on the company’s website. Specifically, the company posted that “Zosano is eager to rise to the challenge of responding to the COVID crisis by collaborating with vaccine developers to provide the first microneedle vaccine for at home application.”
Also, Zosano pointed out that, “Phase 1 clinical data for influenza vaccine showed that the microneedle coated tri-valent flu vaccine was comparable in immune response to the commercial IM injection.”
Obviously, coronavirus vaccine stocks are a big focus right now. But in Zosano’s case, it’s more of a “pick and shovel” approach. The company appears to be looking to apply its microneedle system combined with a vaccine for a unique method of application. Will the company actually secure something like that with a vaccine maker? In addition, the users holding shares of ZSAN on Robinhood have been on the rise over the last month. Data showed that at the start of July, around 5,000 accounts held shares. Now, roughly 7,100 are ZSAN holders.
Penny Stocks On Robinhood Under $3.25: Celsion Corporation
Celsion Corporation (CLSN Stock Report) had a great first half of the year this year. But after receiving some bad news from the independent Data Monitoring Committee, shares dropped like a rock. The Committee recommended that the company consider stopping its global Phase 3 OPTIMA study of its ThermoDox combined with radio frequency ablation to treat cancer.
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Analysis found that the pre-specified boundary for stopping the trial for futility was crossed. Following this, the company held a conference call on July 15th to discuss additional specifics related to the study. Moving on, Celsion has focused on other parts of its pipeline. Late last month, the company initiated its Phase II OVATION 2 Study with GEN-1 in advanced ovarian cancer. The Company anticipates completing enrollment of up to 118 patients in the third quarter of 2021.
This week, Celsion went one step further. It confirmed that it will continue following patients in its Phase 3 OPTIMA study for overall survival. It noted that the unexpected and marginally crossed futility boundary suggested, “may be associated with a data maturity issue”. Additionally, Celsion has sent the trial data, including Chemistry, Manufacturing and Controls data, to the National Institutes of Health for an independent analysis. Traders have digested this information by the look of it. Tuesday, CLSN stock is back on the move having climbed over 13%. Will the 13,000 or so traders on Robinhood holding this expect the trend to continue?