Are These On Your List Of Robinhood Penny Stocks To Buy Right Now?
There’s no doubt about it, trading penny stocks on Robinhood has become almost a right of passage for new traders. There were quite literally millions of new accounts opened on the platform this year. Thanks to the COVID-19 pandemic, people were stuck at home and looking for alternatives to make money.
Penny stocks are a go-to for plenty of new traders for a few reasons. First, the barriers to entry aren’t that bad. You only need a penny stock brokerage account and money to fund it with. The next step is just finding penny stocks to buy and hit the order button. However, the ability to become consistently profitable with these cheap stocks is the hard part.
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Sure, some traders will get lucky here and there. Again, however, consistency is the focus. Big wins followed by large losses isn’t that. Where you’ll see mentioned of penny stocks on Reddit and other social media outlets depict epic fails, that doesn’t get you points where it matters; in your bank account.
Penny Stocks On Robinhood To Watch This Week
Recently, the markets have become increasingly volatile. Even search trends are showing people looking for the worst-performing stocks today. Why would they look for such stocks? Maybe the goal is to find oversold opportunities. On the other hand, it could simply be a way to avoid toxic sectors.
One thing we can say for sure is that the broader markets are having a tough time right now. So this begs the question: Are penny stocks worth it? In short, yes and on top of that, these cheap stocks tend to be some of the top performing asset classes during wild market trends. With this in mind, are any of these penny stocks on Robinhood hitting your watch list this week?
Robinhood Penny Stocks To Watch #1: Northern Dynasty Minerals Ltd.
Northern Dynasty Minerals Ltd. (NAK Stock Report) has been a key focus for traders this month. After NAK stock dropped in August, concerns rose with regard to the validity and likelihood that its Pebble Project in Alaska would receive final approvals. If it ends up going through, it would put Northern Dynasty in the running of being one of the top mining companies in North America. The estimated measured and indicated resource of the project includes 6.5 billion tonnes containing 57 billion lbs copper, 71 million oz gold, 3.4 billion lbs molybdenum and 345 million oz silver.
Earlier this summer, the US Army Corps of Engineers issued a final Environmental Impact Statement for the Pebble Project. The Corps described a “modern hard rock mine that would co-exist with clean water, healthy fish and wildlife populations,” while making a profound socioeconomic contribution to the Bristol Bay region.
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This week Tom Collier, Norther Dynasty CEO participated at anther industry conference bringing more attention to its current progress. The biggest unknown, of course, are the final approvals for the company. NAK stock began surging during the early morning session, reaching highs of $1.14 before the lunch hour.
*Updated* 9/23/2020: An article titled “In secret tapes, mine executives detail their sway over leaders from Juneau to the White House” from the Washington Post late Tuesday afternoon outlined “secret” tapes featuring conversations with members of Northern Dynasty. The recordings apparently showed efforts made by executives to push this project forward. Of course as details continue emerging, we’ll follow the story. However, it is something important to understand if NAK stock is on your list right now.
Robinhood Penny Stocks To Watch #2: Precipio Inc.
Precipio Inc. (PRPO Stock Report) is back on the move this week. After settling out a bit last week, the penny stock is making higher highs and higher lows this week. On Tuesday, PRPO stock hit an early high of $2.80 during the mid-morning session.
The company announced the launch of its HemeScreen acute myeloid leukemia – AML – panel. The panel expands the company’s HemeScreen for laboratories. The panel specifically aims at providing improved patient care via quicker turnaround times for diagnosis.
“For years laboratories have been forced to choose economics over patient care in order to provide a service that is financially sustainable. HemeScreen removes the need to make that choice,” said Ilan Danieli, Precipio’s CEO.
We started following PRPO stock at the end of July as the company entered into an agreement with ADS Biotec. It was for the distribution of its FDA-authorized COVID-19 serology antibody tests that had also received Emergency Use Authorization.
Robinhood Penny Stocks To Watch #3: Novus Therapeutics Inc.
Novus Therpapeutics Inc. (NVUS Stock Report) has caught investors’ interests this month in a major way. Earlier this month the company announced the acquisition of Anelixis Therapeutics that gave immediate access to its AT-1501 compound. It’s being developed for organ and cellular transplantation as well as autoimmune diseases and neurodegenerative diseases. In addition to this, Novus completed a $108 million preferred stock offering and added new executives and directors.
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The proceeds of that offering are to advance AT-1501 Phase 2 clinical trials in up to four indications. Since initially reporting on Novus in the midst of this acquisition, we’ve seen the penny stock skyrocket. It went from one of the penny stocks under $1 to now trading as high as $1.35 this month. Of course, after the initial move higher, NVUS stock fluctuated a bit, finding its footing at levels not seen since June.
This week, NVUS stock is back on the move. It has now climbed from around $0.80 on Monday to highs of $1 before the lunch hour on Tuesday. There weren’t any new updates from the company nor any new filings to speak of. We’ll have to see how the rest of the week unfolds. Regardless, NVUS stock has been one of the top ones to watch this month so far.
Robinhood Penny Stocks To Watch #4: IZEA Worldwide Inc.
IZEA Worldwide Inc. (IZEA Stock Report) has been on the tip of traders’ tongues this week. Shares caught an initial spike on Monday in anticipation of big announcement. What ended up transpiring was the launch of the company’s new “Influence+United” alliance. The company said, “Serving as Charter Member, IZEA plans to formally welcome Influence+United partners in subsequent announcements. Details pertaining to those members will be made public through newswire, online press center, and company’s social media channels.”
Immediately following this, IZEA came out with another series of key updates on Tuesday. First, IZEA welcomed European-based influencer market company, Buzzoole to its alliance. The company also reported that it had secured a “mid six-figure” contract with a “leading spirits manufacturer”, of which the company will launch a large influencer marketing initiative. IZEA was also awarded multiple contracts with other manufacturers and marketers of alcoholic beverages in Q3 2020.
According to the company, IZEA’s research found that social media users are up to five times more likely to have experience ordering alcohol online as compared to those who do not use social media. With these latest updates has come a wave of momentum for the penny stock this week.
Robinhood Penny Stocks To Watch #5: Evogene Ltd.
Evogene Ltd. (EVGN Stock Report) has been on fire this month. Early on, the company announced positive pre-clinical results in a study of its BMC128 immuno-oncology product. Biomica said it tested BMC128 alone and in combination with immune checkpoint inhibitors and found “significantly improved” anti-tumor activity in mice. The company said the study “indicates that treatment with BMC128 conditions the immune system and primes it for an efficient, well-orchestrated anti-tumor response.”
With a very clear focus in the market right now on immunotherapy stocks, EVGN and others have climbed. One broader catalyst came after Gilead’s $21 billion acquisition of Immunomedics. This week, we’re getting more tailwinds after big news from Bristol Myers Squibb (BMY Stock Report) and bluebird bio. The two announced that the FDA accepted for Priority Review, their Biologics License Application for idecabteagene vicleucel. It’s a CAR T cell therapy being developed by the two.
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“Today’s Priority Review milestone recognizes the potential of this first anti-BCMA CAR T cell therapy to address a critical unmet need of patients with multiple myeloma,” said Stanley Frankel, M.D., senior vice president, Cellular Therapy Development, Bristol Myers Squibb.
