Are These On Your List Of Penny Stocks To Buy Right Now?
Are you looking for penny stocks on Robinhood to buy for under a certain price? With the millions of brand new accounts that’ve been opened on the app, there’s a big thing lacking. I’m not talking about the technical issues from previous months either. When it comes to Robinhood, penny stocks are an interesting topic. One of the big reasons why is that Robinhood allows access to NASDAQ and NYSE traded stocks, with few exceptions to the rule. This means, in general, when it comes to finding penny stocks to buy, the list is a bit shorter. That’s in comparison to other brokers like TD Ameritrade, E*Trade, Interactive Brokers, and the like.
Needless to say, we’ve got you covered. There are still thousands of penny stocks to watch even if you use Robinhood or Webull for that matter. In addition to that, to the benefit of traders, most of these stocks under $5 have more consistent levels of liquidity compared to many of the OTC names. This isn’t to say that NASDAQ or NYSE penny stocks are safer. But volume is something that traders look for especially when putting together a list of stocks to watch. A company could be the greatest in the world. But if its shares don’t actively trade, there is a good chance investors won’t pay attention.
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This week is a short one but that hasn’t impacted the overall markets by the look of it. What’s more, is that small-cap stocks are taking the crown in both price movement and volume. In fact, the Russell 2000 ETF (IWM ETF) reached a fresh all-time high on Monday. Considering this as a benchmark for most penny stocks, is it time to start looking for some names in the stock market today?
Robinhood Penny Stocks To Buy [or avoid]: Express Inc.
When you talk about epicenter stocks or reopening stocks, what comes to mind? For most, it would be the retail sector stocks. Furthermore, this week and next are two big days for retail. This includes Black Friday and Cyber Monday. While this year’s festivities might focus entirely on eCommerce due to social distancing, vaccine news has helped give a further push to some of these names. Express Inc. (EXPR Stock Report) extended a now 6-day uptrend that began about a week ago. Better still is the fact that EXPR stock has been in recovery mode for most of November. Since the 2nd, shares are up more than 110%.
While shares have enjoyed a boost, it’s important to keep in mind that there are upcoming dates that could shift the tide. Specifically, the company reports earnings next Thursday before the opening bell. Express has worked to weather the COVID storm this year with a heavier focus on eCommerce. But it’s still more of a brick and click business than anything else. Will the company manage to realize growth and convey that to shareholders next week?
If you remember its Q2 results, the company missed on both EPS and sales. But has this focus on digital retail helped boost things during the second half of 2020? We’ll find out next week. In the meantime, vaccine news and upcoming retail “holidays” have helped give EXPR stock a boost in November.
Robinhood Penny Stocks To Buy [or avoid]: Borqs Technologies, Inc.
Shares of Borqs Technologies Inc. (BRQS Stock Report) took off on Monday. The company came out with news of a memorandum of understanding for a 5G industrial park project in China. The company reported that it signed with the Board Committee of Huzhou South Taihu New Area for the project. The intention is setting up a joint venture in the area that will serve as Borqs’ China headquarters for 5G projects.
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While there is no timeline, the company did say it expects a definitive agreement signed “in the very near future”. This would add to the company’s growing list of infrastructure projects signed in the 3rd quarter. Last month, Borqs and SkyCentrics announced plans for a joint venture for manufacturing and delivering CTA-2045 technology based products. These are for utility-scale automated smart controls.
Tristan de Frondeville, Chairman and CEO of SkyCentrics, explained, “This CTA-2045 port will soon be ubiquitous in major manufacturers’ electrical equipment with the three western states of WA, OR, and CA representing over 15 million water heaters alone. Every year, 9 million water heaters are sold, and the sooner they can become smart and connected, the sooner our grid will be able to integrate more renewables and decrease more carbon emissions.”
Robinhood Penny Stocks To Buy [or avoid]: India Globalization Capital Inc.
This is another thing to bring up when it comes to penny stocks on Robinhood: the lack of access to marijuana stocks. The vast majority of marijuana stocks on Robinhood are Canadian-centric companies. While that’s not necessarily a bad thing, it does restrict access to the growing cannabis industry in the U.S. in many ways. Regardless of the fact, there are still companies like India Globalization Capital Inc. (IGC Stock Report) that are more focused on the medical side of things.
This month, the company has gained a bit more interest after finally updating the public on its cannabinoid clinical trials. Over the weekend the company reported its financial results for the quarter. But more importantly, the company announced the start of its Phase 1 cannabinoid-based clinical trial for Alzheimer’s patients. The company’s investigational drug candidate, IGC-AD1 will go into Phase 1 and administered for 3, 14-day periods that will include dose escalation.
Robinhood Penny Stocks To Buy [or avoid]: Platinum Group Metals Ltd.
Platinum Group Metals Ltd. (PLG Stock Report) is one of the electric vehicle penny stocks to watch. While the company itself doesn’t make EVs it does produce the raw materials that go into making certain pieces of the vehicle, namely batteries.
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In 2019, the company founded Lion Battery Technologies Inc. in partnership with Anglo American Platinum Limited to support the use of palladium and platinum in lithium battery applications. What’s more is that In October, the U.S. Patent and Trademark Office issued Patent No. 10,734,636 B2 entitled “Battery Cathodes for Improved Stability” to Florida International University. Under a sponsored agreement, Lion holds exclusive rights to all technology being developed by FIU included patents granted. The patent includes the use of platinum group metals and carbon nanotubes among other things in a lithium battery.
With a clear focus on any name that can be related to electric vehicle stocks, PLG has captured some interest.
Robinhood Penny Stocks To Buy [or avoid]: Rigel Pharmaceuticals
Rigel Pharmaceuticals (RIGL Stock Report) has made a slow and steady move higher for the better part of the last few months. RIGL stock moved from around $2.20 at the start of August to recent highs this week of $2.93. The latest surge came after the company and Medison Pharma announced that Health Canada approved the new drug submission for TAVALISSE® (fostamatinib disodium hexahydrate). This is for treating thrombocytopenia in adult patients with chronic immune thrombocytopenia who have had an insufficient response to other treatments.
“With Medison as our collaborative partner, we believe TAVALISSE is well positioned for commercial success in the Canadian market.”
Raul Rodriguez, Rigel’s president and CEO
While this is favorable news for the company, the uptrend continues supporting analyst sentiment. Right now analysts at several firms including Cantor Fitzgerald, JPMorgan and Citigroup are covering the stock. Citigroup in particular has gone further in placing a price target of $8 on RIGL stock; 173% higher than the current level.
