Hot Penny Stocks For Your Watch List Right Now
Penny stocks have become the focus of many investors over the past year. If you’re a bit new and looking to understand what penny stocks actually are, here’s a quick definition. According to the Securities & Exchange Commission, penny stocks are defined as shares of companies trading below $5. Of course, this definition is quite loose given that most would assume these would be stocks under $1 trading for “pennies,” but this is what we’ve got to work with. In any event, countless companies found themselves trading at these sub-$5 levels this year thanks to the coronavirus pandemic. In fact, many still are trading much lower than they were in 2019 even with the recent market activity.
One thing to keep in mind is that there is no definitive time period that COVID will end. While vaccine hopes are very high, again, we don’t know when the pandemic will actually slow. In the meantime, however, we can use the current information we have to try and find things like epicenter penny stocks and other trending trades to follow. While all penny stocks aren’t seeing the explosive moves that others are, you can’t ignore the recent trend across the small cap space as a whole. Comparing the Russell 2000 ETF to the S&P ETF, we can see a clear difference between the two. The Russell – IWM – has held more of an uptrend during the last few session. Meanwhile, the S&P – SPY – has remained in a downward trend.
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Something to think about and consider is that so many new traders jumped onboard apps like Robinhood to gain access to markets this year. In fact, according to some reports, penny stock brokerage growth showed the strongest figures for the app, through the end of September. With this in mind, it might not hurt to take a look at some of the trending Robinhood penny stocks to watch right now to see if momentum favors the bold.
Penny Stocks on Robinhood To Buy Under $4
- Waitr Holdings Inc. (WTRH Stock Report)
- Regulus Therapeutics (RGLS Stock Report)
- Entasis Therapeutics Holdings (ETTX Stock Report)
- Jaguar Health Inc. (JAGX Stock Report)
- Zomedica Corp. (ZOM Stock Report)
Robinhood Penny Stocks To Buy: Waitr Holdings Inc.
Waitr Holdings Inc. operates as an online service for connecting consumers to restaurants via delivery. The company has several competitors, but it has been able to carve out a niche for itself in the delivery marketplace. During trading on December 9th, shares of WTRH stock shot up earlier this week before dropping down slightly. One of the main reasons for this was the announcement of DoorDash (DASH Stock Report) pricing its IPO at around $102.
This is much higher than many investors expected, resulting in a correlative gain for WTRH stock. One of the main reasons that WTRH stock has seen so much bullish momentum is due to its role as an epicenter penny stock.
When the pandemic hit, more and more consumers began to turn to food delivery services. Now, six months or so later, we are still seeing plenty of consumers utilizing these services. This has helped to make companies like Waitr Holdings and Doordash, see big bullish interest from investors. One thing to keep in mind is that Waitr Holdings still has a relatively small market share when compared to the larger food delivery platforms. But, the company still could have a great deal of growth left in its future.
Robinhood Penny Stocks To Buy: Regulus Therapeutics
Regulus Therapeutics is one of the penny stocks on Robinhood worth watching after the recent uptrend RGLS stock has seen. Since the start of the 4th quarter, shares have climbed as much as 145% after reaching highs of $1.35 this week. That surge continues pushing the stock on Friday with shares once again testing that $1.35 level. Something to keep in mind from a technical perspective is that the penny stock saw some “traffic” or “resistance around this level back in January. However, it was during a period when volume back then didn’t compare to recent levels.
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Fundamentally speaking, traders are looking at Regulus right now and following the progress with its RGLS4326 treatment. It’s a candidate for certain types of kidney diseases. Earlier this month the company entered into a collaboration with Bio-Techne (TECH Stock Report) for the clinical development of RGLS4326. Regulus expects results from the first cohort to be available by the end of next quarter. Considering that we’re just a few weeks away from a new year, it may be time to start thinking about the potential of certain platforms right now. Certainly, RGLS stock has demonstrated a clearly bullish sentiment from traders recently. Will that remain as the case or will this become another time when it fails to break through resistance and drop lower?
Robinhood Penny Stocks To Buy: Entasis Therapeutics Holdings
Entasis Therapeutics Holdings is anther biotech penny stocks worth watching this month. Since reaching 52 week lows of $1.58 at the start of November, ETTX stock has been steadily climbing higher. However, this week has ben a bit different; namely Friday morning. While the uptrend over the last few weeks has been relatively smooth, December 11th saw a big spike in trading. In fact, shares ended up breaking out over 20% during the early morning session. What’s more is that there weren’t any apparent fundamental catalysts to cite at the time of this article.
As noted back in October, there are some things to note, one being who’s taking a large position in the company. First, Innoviva Inc. has built a 69% stake in Entasis. That’s as of the most recently filed 13D. What’s more, is that we’ve got some pipeline treatments to keep an eye on. Specifically, the company has active enrollment in a Phase 3 clinical trials addressing Acinetobacter infections and gonorrhea.
Its ATTACK clinical trial is a global Phase 3 registration trial evaluating Entasis’ SUL-DUR for the treatment of patients with pneumonia and bloodstream infections caused by Acinetobacter baumannii. It’s also worth mentioning that ETTX has a $9 price target that was issued by Roth Capital this year; 343% higher than current levels.
Robinhood Penny Stocks To Buy: Jaguar Health Inc.
Jaguar Health Inc. Is one of the companies we’ve followed for weeks. There was a strong move earlier this month that took JAGX stock to highs of $0.729. Following some profit-taking over the last week or so, the penny stock has begun climbing again. One of the key points of focus has been on Jaguar’s plan to develop and commercialize its crofelemer treatment. This will be for an indication of prophylaxis and/or symptomatic relief of inflammatory diarrhea. Initially, it will be studied in a ‘long-hauler’ COVID-19 recovery patient population in Europe. Furthermore, in October its wholly-owned subsidiary, Napo Pharmaceuticals, Inc., began a Phase 3 clinical trial of crofelemer for prophylaxis of diarrhea in adult cancer patients receiving targeted therapy.
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Jaguar has also begun initial discussions with a sponsor of “Post Pandemic Recovery Equity”, Swiss Growth Forum. The two will look into the SPAC’s possible merger with an operating subsidiary of Jaguar. It could ultimately establish an exclusive license to crofelemer and Mytesi for the indications of inflammatory diarrhea and HIV-related diarrhea in Europe.
This week, the company adjourned its special meeting of stockholders until December 22nd. The company also set up a conference call on the 17th to go over developments that’ve already taken place. A lot of this is centered on the company’s situation with not meeting the Nasdaq minimum bid requirement. So there is a lot to digest leading up the the December 17th call.
Robinhood Penny Stocks To Buy: Zomedica Corp.
Similar to Jaguar, Zomedica Corp. is something that has been a topic of conversation for a few months now. Ever since the start of November, ZOM stock has been on fire. The penny stock moved from around $0.07 to highs of $0.21 this month. So far, from a technical perspective, ZOM stock has held above its 200-day moving average for the month so far. This is the first time the stock has sustained levels above this technical area in months.
Fundamentally speaking, the key point of interest for traders is on the company’s TRUFORMA product. Zomedica has been ramping up for the official launch and recently appointed a new team memebr to lead its marketing department ahead of this launch. TRUFORMA is Zomedica’s diagnostic platform for use at the point-of-care. With commercial sales expected to begin by the end of Q1 next year, this comes as a timely update for the company.
For those watching ZOM stock from a technical perspective, it has run into resistance around $0.21 in the past. But with this recent rebound, prove different for the next move of ZOM?