These Penny Stocks On Robinhood Surged Late On Thursday; Will That Continue?
One of the most active platforms for trading penny stocks lately is Robinhood. The mobile-ready app has gamified the way people trade. It also grew its user-base dramatically larger with the onset of coronavirus. Whether you support it or are a staunch opponent of it, Robinhood and penny stocks have gone hand-in-hand this year. The goals are the same: make money more than you lose money.
However, this herd mentality hasn’t been the greatest for newbie traders. In fact, one of the places I spend time is on Reddit. Those talking about penny stocks on Reddit are very mixed. Some have a generally keen understanding of how to trade, some are in between novice and experienced, while others are completely unaware of how to even buy penny stocks. The majority of them seem to have traded on Robinhood at some point in their trading careers.
Here’s the thing, if this is you, whether you’re trading penny stocks on Robinhood or another broker, the same ideology holds true: Education is paramount. Don’t expect to win the Indy 500 after just getting your diver’s license, don’t expect to become a Michelin Star chef after watching some YouTube videos and don’t expect to become Warren Buffett by simply opening up a trading account.
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Build your knowledge the same way you want to build your portfolio. Strategies like “tiered trading“, chart plotting, and technical analysis are all examples of topics to learn more about. But I digress. We’re here to look at penny stocks on Robinhood that traders are starting to buzz about. Will they be the top penny stocks to buy? I’ll leave that choice up to you.
Robinhood Penny Stocks To Buy [or sell]: Tonix Pharmaceuticals Holding Corp.
Tonix Pharmaceuticals Holding Corp. (TNXP Stock Report) has been on the list of penny stocks to watch for a while. It’s been on our watch lists since late-February. Last month Tonix announced that it met its target enrollment of approximately 470 participants in a Phase 3 RELIEF trial of TNX-102 SL 5.6 mg. The treatment is in development as a non-opioid, centrally acting analgesic, taken daily at bedtime for the management of fibromyalgia.
Some news earlier this month put Tonix Pharmaceuticals on watch in August. The company announced the U.S. FDA cleared its Investigational New Drug Application for the initiation of a Phase 2 proof-of-concept study using TNX-102 SL for treatment of alcohol use disorder. The program is expected to qualify for the 505(b)(2) pathway for FDA approval. The company also reported its second-quarter earnings earlier this week. That seems to have helped keep the fire stoked under this penny stock.
Aside from realizing a lower EPS loss of ($0.23) compared to ($0.95) last year, the company also reported that it expects preclinical data for its TNX-1800 COVID-19 vaccine candidate in Q4. With interim analysis results for its Phase 3 trial expected next month, recent earnings results, and latest attention on coronavirus vaccine stocks, is TNXP stock on your list in August?
Robinhood Penny Stocks To Buy [or sell]: Aerpio Pharmaceuticals Inc.
Aerpio Pharmaceuticals Inc. (ARPO Stock Report) is another big mover lately. Since mid-May we’ve focused on developments made by Aerpio. The company has executed on several initiatives and that has translated positively in the market. What has helped propel things recently is its latest earnings results.
Wednesday Aerpio released its Q2 update. Revenue came in at $15.0 million for the three months ended June 30, 2020. This was attributed to a one-time payment in connection with the amendment to its license agreement for GB004 with Gossamer Bio. As of June 30, 2020, cash and cash equivalents totaled $44.9 million, an increase compared to $38.5 million as of December 31, 2019.
In light of this progress, analysts have started paying more attention to this penny stock. H.C. Wainwright currently maintains Aerpio Pharmaceuticals with a Neutral. However, this week the firm raised its price target from $1.5 to $2. Also keep in mind that COVID headlines are also something to consider with ARPO stock in light of recent market sentiment. On August 4th, the company announced an agreement with the US government to evaluate razuprotafib in a new randomized, investigational trial. The goal of the treatment is to prevent and treat acute respiratory distress syndrome in adult patients with moderate to severe COVID-19.
. What’s more, is the partnership will provide resources to support a second COVID-19 Phase 2 clinical trial with razuprotafib. The Consortium will provide up to $5.1 million in funding toward the clinical trial.
Robinhood Penny Stocks To Buy [or sell]: ToughBuilt Industries Inc.
When talking about a company like ToughBuilt Industries Inc. (TBLT Stock Report) you can’t help but mention its shareholders. They are likely just as if not more “Tough Built” than the penny stock itself. The reason being is that TBLT stock has been one of the most volatile penny stocks this year.
It has jumped up on big news but came down just as quickly. The company has also continuously raised money, which has acted as a negative catalyst in the market at times. Needless to say, TBLT stock hasn’t been very resilient throughout the year on a high-level view. Despite its 1 and 2-day breakouts, TBLT stock has fallen nearly 70% year-to-date.
So why is it back on a list of Robinhood penny stocks to watch? Well, outside of whatever broker you’re using, TBLT shares saw a surge late in the day on Thursday. The stock jumped from a close of $0.69 during regular market hours to highs of $0.98 in after-hours trading. What was behind this move? Following the closing bell, ToughBuilt made its first update of August. It wasn’t a headline but it was a filing.
The company released its unaudited financials for the quarter ended June 30, 2020. Total revenues, net of allowances came in at $6,839,646 compared to $4,754,340 during the same period last year. Furthermore, gross profit reached $2,557,017 compared to just $1,176,922 in Q2 2019. Though ToughBuilt posted an EPS loss per share of $0.11 for the first 3 months, it did realize a decrease in EPS losses for the first 6 months compared to 2019. For the 6 months ended June 30, 2020, basic net loss per common share was ($0.49 ) compared to ($1.06) during the same period last year. Will this mark a turnaround for TBLT stock or is this going to be another “head-fake”?