Thinking About Buying Penny Stocks? Here’s 5 Penny Stocks to Watch Right Now
What are epicenter stocks? These are stocks that have gotten beaten down because of pandemic restrictions but, according to Tom Lee of Funstrat, they could be the top names to strongly bounce if and when there’s an economic recovery. These encompass many different industries. Epicenter stocks are also some of the most actively sought after by traders looking for penny stocks on Robinhood. This app has experienced immense growth in 2020. In fact, among most other brokers, Robinhood has emerged as one of the fastest-growing in 2020.
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As November comes and goes, we have seen a lot of penny stocks climb in value. Following the presidential election and the spike in COVID cases, there are more penny stocks to watch than in many months prior. Now, this is not to say that all penny stocks have value. Rather, if investors do the research, they can find penny stocks that could have bullish momentum. The first step in finding penny stocks to buy is to pick an industry. This could be biotech, mining, tech or any area that one believes has value. We also have to consider which areas of the stock market are seeing momentum due to current events.
One example is with digital communication platforms. During COVID, institutions and individuals alike have turned to digital communication platforms to avoid unnecessary contact. This has helped to push communications penny stocks momentum in recent months.
Penny Stock On Robinhood November 2020
- Titan Pharmaceuticals Inc. (TTNP Stock Report)
- Vislink Technologies Inc. (VISL Stock Report)
- Canaan Inc. (CAN Stock Report)
- Marathon Patent Group Inc. (MARA Stock Report)
- AgEagle Aerial Systems Inc. (UAVS Stock Report)
While this is just one example of an industry with potential, there are plenty of others to consider. Once an investor has picked an industry, it all comes down to researching the companies within it. With research in hand, investors can begin to craft a list of penny stocks to watch. All things considered, here are 5 penny stocks on Robinhood that can be bought for under $4. Are they worth the risk?
Robinhood Penny Stocks to Buy [or avoid]: Titan Pharmaceuticals Inc.
Titan Pharmaceuticals Inc. is a U.S. based development-stage biotech penny stock. The company has been working on several groundbreaking therapeutics including its ProNeura drug delivery system. This system has the goal of treating chronic conditions by maintaining consistent levels of medicine in the body. Recently, Titan Pharmaceuticals announced its Q3 2020 financial results. In the results, the company stated that it brought in around $2.4 million from a direct offering to help with cash flow and future endeavors. In addition, the company brought in around $1.1 million in revenue. While this may not seem like a lot, it does seem to be a consistent theme amongst early-stage biotech companies.
Prior to the release of a product, biotech penny stocks usually show small revenue amounts. Dr. Devarney, an executive at the company stated that “subsequent to the end of the third quarter, Titan began an important, focused restructuring to position the company for future growth. We believe that our ProNeura platform, which has the potential to provide continuous drug delivery over extended periods of up to six to 12 months, offers potential key value-generating opportunities.”
With biotech penny stocks seeing renewed potential due to Covid, Titan Pharmaceuticals continues to look like a penny stock to watch.
Robinhood Penny Stocks to Buy [or avoid]: Vislink Technologies Inc.
Vislink Technologies Inc. Is considered to be a tech company working globally to provide advanced solutions for commutations. The company states that its operations span military and government sectors as well as commercial. Vislink works by offering high quality live video broadcasting services across satellite, fiber optic and wireless platforms. Recently, the company announced its third quarter financials for the 2020 year. The company stated that revenue came in at north of $4.8 million with a negative EBITDA of $2.4 million. Additionally, this is quite substantial considering its Q3 2019’s EBITDA of -$4.7 million.
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Carleton Miller, CEO of Vislink Technologies stated that “in the third quarter, we continued to feel the effects of a challenging macro business environment. The ongoing Covid-19 pandemic limited our growth and softened demand in our key Live Production and MilGov markets, as customers delayed deliveries for new and upgraded equipment. The pandemic also impacted our supply chain, which led to an interruption in receiving components from our suppliers.”
Robinhood Penny Stocks to Buy [or avoid]: Canaan Inc.
Canaan Inc. is a China-based tech penny stock working on providing computer solutions for bitcoin mining and smart home products. Moreover, due to covid, people are at home more than ever before, which means that more people are using smart home products to ease everyday life. Because of this, shares of CAN stock have climbed significantly in the past few weeks. In the past month, shares of CAN stock have shot up by almost 80%. This includes the 6% gain witnessed on November 19th. On November 16th, the company announced a $10 million share buyback program to help fight the diluting of shares. After announcing this, shares of CAN Stock shot up by 23% during trading.
As mentioned before, Canaan Inc. also works in the Bitcoin mining industry. For those who don’t know, this means that the company provides cryptocurrency mining products. The company states that it is one of the largest manufacturers of ASIC devices (devices used to mine cryptocurrency) in the world. Although its price is not highly correlated to the price of bitcoin, it does have loose ties to the cryptocurrency.
With geopolitical tensions rising around the world, many turn to bitcoin as a way to avoid using a centralized currency. In addition, bitcoin mining has continued to increase in popularity over the past few years. With all of this in mind, it looks like Canaan Inc. has an important role in the tech industry and specifically in the mining of cryptocurrency.
Robinhood Penny Stocks to Buy [or avoid]: Marathon Patent Group Inc.
Marathon Patent Group Inc. is another company that works out of the cryptocurrency mining sector. The company recently announced that it has the potential to mine as much as 15-20 bitcoins per day at a cost of around $3,863 per bitcoin. With the current price of bitcoin at just under $18,000 as of November 19th, we see just how profitable this endeavor could be.
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On November 19th, the company announced its financial information in a presentation made for investors. In the data, the company stated that it held $0 in debt with $24.6 million in cash. During the presentation, the company also stated that it has partnered with Beowulf and Bitmain, which should help to boost its mining operations.
Moreover, the company stated that with its ability to mine bitcoin, it could potentially generate as much as $8.8 million in revenue per month with $6.7 million of that being gross profit. In the past five days, shares of MARA stock have shot up by almost 30% to $2.98 as of intraday on November 19th. However, during the past six months, shares of MARA have increased in value by around 270% which is no small feat. As stated in the above section, interest in bitcoin mining is continuing to increase. With the price of bitcoin moving back up toward all-time highs, companies like MARA could be on the list of penny stocks to watch.
Robinhood Penny Stocks To Buy [or avoid]: AgEagle Aerial Systems Inc.
In the past few months, we have witnessed many penny stocks surge in value. AgEagle Aerial Systems has been one of these. In fact, since mid-March, UAVS, stock, in true epicenter stocks fashion, has bounced back hugely. On March 18th, shares were trading below $0.20 and this week they’re currently reaching highs of $2.78. This 1,363% move didn’t come randomly. The company has benefited from speculation in addition to reaching its own milestones.
The company focuses on drone technology. Recently the conversation has involved social distancing and novel means of delivering packages. Recently, the company announced that it has been selected as an industry partner for the U.S. DOT’s Unmanned Aircraft System Integration Pilot Program as well as the BEYOND program. CTO Michael Kratsios stated that “the IPP propelled the American drone industry forward, allowing for unprecedented expansions in testing and operations.”
What’s more is in its recent Q3 update, AgEagle CEO Michael Drozd noted, “We are very pleased with the progress that AgEagle continues to make across each of our focused business segments…Looking ahead, we will remain focused on driving revenue growth through marketing our contract manufacturing and assembly services, along with our innovative drone and agriculture solutions. Moreover, we will continue to evaluate potential strategic acquisitions that will further complement and strengthen our position as a recognized leader in The Drone AgeTM.”
