penny stocks on robinhood to buy right now avoid later

These Penny Stocks On Robinhood Saw A Late Week Surge; Will That Continue In Novemer?

Whether you’re looking to buy penny stocks on Robinhood, Webull, TD Ameritrade, E*Trade, or other platforms, the goal is to make money. New interest in making money with stocks has built-in 2020 thanks initially to stay at home orders enforced due to the COVID pandemic.

Furthermore, those without full-time jobs found solace in the welcome arms of the stock market. Some traders learned the hard way that making money in the market isn’t as easy as a slot machine. Others, however, took it upon themselves to get proper education, learning how to day trade.

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However, one of the biggest surges in new trading accounts came from Robinhood. Penny stocks, options, blue-chips, and even cryptocurrencies became immediately accessible to people who’d never traded before in their lives. Some accounts say that from January to the end of September, 5 million new accounts were opened on the platform.

Is Robinhood Good For Penny Stocks?

Say what you will, but the ease of use and speedy set-up process, not to mention, free stock had its draws. On the other hand, technical glitches have plagued the mobile-first platform. Furthermore, users are limited to certain stocks. For example, most OTC penny stocks are restricted from access to users.

If you’re one of the 5 million or so new users, I’m sure you’re either looking to learn more about trading or looking for some of the top penny stocks on Robinhood right now. First, if you’re new, check out our 60+page eBook all about learning how to trade penny stocks. If you’re already experienced and looking for a list, here are a few trending penny stocks on Robinhood making new Friday highs.

Robinhood Penny Stocks To Buy [or sell]: Akerna Corp.

I write this out: Buy or Sell, for a reason. That reason is to get you as a trader to think a bit before jumping into or completely avoiding a stock. In this case, Akerna Corp. (KERN Stock Report) is notorious for quick breakouts. But, overall, the trend since June has clearly been a downward one. What I will say is all across the market, marijuana penny stocks are getting the bulk of the attention right now. New wins in New Jersey, Arizona, and other states have placed a bright light on pot stocks this week. Even some of the most beaten-down names like Aurora Cannabis (ACB Stock Report), Cronos, and Tilray have seen uncapped momentum.

Related | Looking For Penny Stocks To Buy Today? 5 Marijuana Stocks To Watch

Akerna is no different. What’s more is that just a little over a week ago, KERN stock reached a fresh 52-week low. Generally speaking, when this happens traders will question the strength of the company. On the other hand, you can’t ignore the fact that much of the negative sentiment stemmed from the recent $12 million raise they did at the end of last month. But fast-forward to this week and if you’re looking for top marijuana stocks today, KERN is likely on that list. The penny stock traded more than 17 million shares and reached trading levels not seen since mid-October.

There weren’t any headlines to go along with this momentum. Something to keep in mind aside from all of the pot stock FOMO right now is Akerna has earnings coming up. Next Thursday, the company will report and host its quarterly update. It failed to wow investors in September when it reported its fiscal 2020 results. Will that change heading into the new fiscal year for Akerna? The company does have a unique platform designed as a seed-to-sale enterprise resource planning technology for cannabis companies. But will COVID put a damper on corporate performance at least in the near-term?

penny stocks on robinhood to buy avoid Akerna Corp. (KERN stock chart)

Robinhood Penny Stocks To Buy [or sell]: Lipocine Inc.

Those of you who’ve read our articles before on certain biotech penny stocks might find Lipocine Inc. (LPCN Stock Report) familiar. The company was a frequent mention on our list of penny stocks to watch. Much of the excitement and speculation focused on Lipocine’s TLANDO product. This is the company’s oral testosterone replacement therapy. The big focus was on a proposed FDA event that Lipocine and traders had been waiting for since late last year. In November, the company reported some bad data that ended up sending LPCN into penny stock territory.

Earlier this week we discussed LPCN stock as there are several upcoming dates to keep in mind. Specifically next week the company is set to present results from studies that suggest low testosterone levels could actually play a role in clinical outcomes of COVID-19 in men. Furthermore, Lipocine discusses the safety and efficacy of TLANDO at the Fall Scientific Meeting of the Sexual Medicine Society of North America.

However, a wildcard was thrown on the table Friday when the company announced a regulatory update on TLANDO. The FDA informed the company that it is working towards taking action on the TLANDO New Drug Application “on or about the week of  November 30, 2020.” Though Lipocine can’t assure that the FDA will act in that time frame, it is an important date to keep in mind heading into November. 

penny stocks on robinhood to buy avoid Lipocine Inc. (LPCN stock chart)

Robinhood Penny Stocks To Buy [or sell]: Nano Dimension Ltd

Nano Dimension Ltd (NNDM Stock Report) has been one of the top penny stocks to watch for a few weeks. After working out some confusion with a name mix-up, traders saw a re-set on the penny stock toward the end of the 3rd quarter. Since then, NNDM stock has continued climbing and experiencing higher than average levels of trading volume.

Like many small caps, Nano took advantage of this trend in trading activity and was able to raise $50 million. Though shares dipped initially due to the discounted offering, NNDM stock has reversed course this week. Since Monday, the penny stock has climbed by as much as 39%. The issue that some had was that the “use of proceeds” wasn’t that specific. The company stated it would use the funds for working capital and “other general corporate” purposes. Regardless of this, we’re seeing the stock climb and the recent corporate update could be the source of this momentum.

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Thursday, NanoDimension announced that it sold two DragonFly LDM systems for additive manufacturing of electronics. An Australian defense contractor and an Asia-Pacific research center were the customers. With cash in the bank and new orders coming in, will NNDM be on your list of penny stocks on Robinhood to watch in November?

penny stocks on robinhood to buy avoid Nano Dimension Ltd. (NNDM stock chart)

Robinhood Penny Stocks To Buy [or sell]: Senseonics Holdings, Inc.

Senseonics Holdings, Inc. (SENS Stock Report) saw a much more consistent move on Friday. This carried over from Thursday’s initial spark. The last two days have seen SESN stock climb 13% with a consistent increase in volume Is this a new uptrend forming or just another head-fake? I say this because this penny stock has been known for its volatility. What’s more, is that SESN has seen a considerable level of resistance at its 50-day moving average. This is a level that it tested on Friday. Previous to that, SESN traded at or above the 50DMA for most of the summer.

Some of the momentum is likely due to the fact that Senseonics participates in the Credit Suisse Healthcare Conference next Wednesday. The company will also release its third quarter earnings on Monday. As we know, earnings can present high levels of risk/reward depending on the outcome and management’s commentary. So if SENS stock is on your list, keep that in mind.

The company develops and commercializes long-term, implantable continuous glucose monitoring systems for diabetics including its Eversense® System. Early last month Senseonics reported that the Premarket Approval supplement application to extend the wearable life of the Eversense® CGM System to 180 days was submitted to the FDA. Summary accuracy results from the PROMISE Clinical Study for the 180-day product were also announced. Research results from the PROMISE Clinical Study will be presented at future diabetes meetings, as well as through scientific publications.

penny stocks on robinhood to buy avoid Senseonics Holdings Inc. (SENS stock chart)

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