3 Penny Stocks On Robinhood Surging In The 4th Quarter
As 2020 comes to an end, there are plenty of penny stocks to watch. When looking to make a list of penny stocks, investors need to first consider certain things. The political and economic climate of the industry they wish to invest in are some examples. In addition, traders should always consider which industry may be more future proof than others. For example, the election of Joe Biden as president could provide a needed boost to several markets. These include things like electric vehicles, renewable energy, and even cannabis to name a few.
Once we have an idea of where we want to invest, the next thing we want to do is research. This phase of trading or investing in penny stocks may take the longest, but it is the most crucial. When searching for different stocks, investors should consider things like financials and what the company is doing to sustain growth. These factors will help to determine which penny stock could have a long term future and which might just be a momentum-fueled trade. Of course, there are other aspects to consider, but these should be a good place to start.
When we talk about penny stocks on Robinhood, in particular, we’re focused on listed stocks. These are different from OTC penny stocks, which are restricted from trading with certain brokers. Are there benefits to listed vs OTC penny stocks? Well, for one, the reporting requirements tend to support more disclosure from the listed companies. But at the end of the day, it’s up to you. I just know that there are now millions of new traders looking for penny stocks on Robinhood so this seemed fitting. Just because they’re “listed stocks” are they good to buy or should you avoid them entirely? With all of this in mind, here are three penny stocks to watch before New Years’.
- Onconova Therapeutics Inc. (ONTX Stock Report)
- Seelos Therapeutics Inc. (SEEL Stock Report)
- Color Star Technology Co Ltd (CSCW Stock Report)
Robinhood Penny Stocks to Buy [or avoid]: Onconova Therapeutics Inc.
Onconova Therapeutics Inc. is one of the bigger gainers of the day on December 30th. During intraday trading, shares of ONTX stock shot up by around 16%. In the past month, shares of ONTX stock are up by over 70%. Well, no news came out about ONTX during the day, we can take a look at what the company is up to right now. Last week, Onconova announced that it has received FDA permission to study its drug known as ON 123300. This drug is used in the treatment of certain types of cancer. For those who are biopharmaceutical inclined, ON 123300 operates as a multi-kinase inhibitor.
Steven Fruchtman, CEO of the company stated that “we are grateful to receive this timely, favorable response from the FDA two initiate a Phase 1 trial with ON 123300. We are advancing the process to secure institutional review board approval, and affirm our expectation that the first patient will be enrolled during the first half of 2021.”
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While this is only a small step, it seems as though it is an exciting one for the company. One thing to keep in mind is that trials like these tend to take quite a bit of time. But, Onconova also has several other therapeutics that are in various stages of the approval processes. With this exciting news, however, it looks like ONTX is working hard to continue innovating for the future. If it can move through this process swiftly, ONTX could have an even larger foothold in the biopharmaceutical industry. As far as Q4 is concerned, the penny stock has jumped as much as 166%.
Robinhood Penny Stocks to Buy [or avoid]: Seelos Therapeutics Inc.
Seelos Therapeutics Inc. is another decent gainer, pulling in around 10.2% in gains on December 30th. For some context, SEEL works as a clinical stage biopharmaceutical company working on producing novel treatments for to treat CNS, respiratory and other illnesses. The company states that it has a large range of pharmaceuticals currently in its pipeline.
This includes SLS-006 and SLS-005, which are used in the treatment of Parkinson’s disease and Sanfilippo syndrome respectively. On December 14th, the company announced that it had raised roughly $10 million in a private placement. This placement took place with senior secured convertible notes. With these funds, Seelos should be able to both continue researching its current and novel drugs, as well as for general corporate needs.
One of the key factors that took place prior to this announcement has to do with its intranasal Ketamine program. This drug known as SLS-002 is being tested for its use in reducing suicidal ideation and depressive disorders. The financing deal, which is being done with Lind Partners, should help to further its pipeline. One of the things that separates Seelos from others is that it has quite a large range of drugs in its pipeline. What’s more, is since the start of the fourth quarter, SEEL stock has climbed as much as 134%.
Robinhood Penny Stocks to Buy [or avoid]: Color Star Technology Co Ltd
Color Star Technology Co Ltd. is one of the companies we explained could see end of year momentum. This was in part, due to an event planned for this week. Specifically, the company’s set to launch an international version of its Color World App on December 31st. This is Color Star’s application offering online performances, live streaming, online celebrity classes, and celebrity and influencer co-branded products.
The international version is designed as a platform to attract artists, athletes, and other professionals to provide more diversified and culturally rich performances. Color Star also plans to host offline concerts and music festivals next year with simultaneous online streaming on the Color World App.
Considering the launch date is tomorrow, CSCW stock could be one to watch heading into the end of the year. The biggest question is will this launch be a big enough catalyst to continue CSCW’s recent momentum? The 4th quarter has seen CSCW stock jump more than 80% since the beginning of October.