Penny Stocks Robinhood Traders Are Flocking To Right Now Under $1

When it comes to penny stocks on Robinhood, traders have a few things to consider. Not only price but the exchange is very important to keep in mind. If you’re researching penny stocks and putting together your list, some of the cheapest stocks may end up coming off that list when it comes time to buy. What’s the reason for this? Many of the stocks under $1 trade Over The Counter or “on the OTC”. Based on this reason, traders using apps like Robinhood or Webull, for instance, may be frustrated if the cheap stock they wanted to buy is found to trade on the OTC.

Now, I will say, not all penny stocks on the OTC are restricted from the app. But, for the most part, there’s a good chance that if you find an OTC stock you like, it’s probably not on these popular apps. So where does that leave you? Well, honestly, you’re no better or worse because there are, in fact, plenty of penny stocks to buy under $1 on Robinhood. These are much riskier than some of the higher-priced stocks. But if you’re looking for volatility, then the cheap the better in the eyes of many traders.

Earlier this week we discussed Avinger Inc. (AVGR Stock Report) for example. At the end of December, Avinger received a European Patent titled ‘Otc imaging catheter with lag correction‘. It has also been pushing for its shareholders to approve a reverse split to regain NASDAQ compliance. It needs a minimum bid price of $1. Long story, short, since publishing that article on the 4th, we’ve seen AVGR stock climb 86.5%. What’s the point of that? AVGR stock’s monster move came from a move of just 50 cents.

Robinhood Penny Stocks To Buy Under $1

  1. Zomedica Corp. (ZOM Stock Report)
  2. Acasti Pharma Inc. (ACST Stock Report)
  3. Assertio Holdings Inc. (ASRT Stock Report)

But while stocks under $1 can rise quickly, they can fall just as swiftly. Keep this in mind if you’re looking for NYSE and NASDAQ listed names that are this cheap. Here are a few more penny stocks under $1 to watch. Just because they’re this cheap, will they be worth the added risk?

Robinhood Penny Stocks To Buy Under $1: Zomedica Corp.

Zomedica Pharmaceuticals is another one of the cheap penny stocks on Robinhood we discussed this week. Zomedica’s TRUFORMA product has been the main attraction over the last few months. It was developed by Qorvo (QRVO Stock Report) and provides a non-optical and fluorescence-free detection system for use at the point-of-care. Essentially it’s a diagnostic platform for animals used by the veterinarian community.

Why is the company a hot one to watch right now? Official commercial sales are expected to begin by the end of this quarter. So this comes milestone for traders to keep track of. The company has been appointed different people to leadership roles in advance of the commercial launch over the last few months. This week Zomedica announced Robert Cohen as Chief Executive Officer. He was previously the interim CEO so this appears to be the next logical move in light of the current milestones and upcoming milestones.

[Read More] Top Penny Stocks To Watch If You Like Tech Stocks In January 2021

What’s more is that over the last several months, ZOM stock has managed to surpass its analyst price target set by H.C. Wainwright earlier last year. Analysts at the firm have a Buy rating on the stock along with a $0.30 price target.

penny stocks on robinhood to buy under 1 right now Zomedica Corp. ZOM stock chart

Robinhood Penny Stocks To Buy Under $1: Acasti Pharma Inc.

Acasti was another one of the hot penny stocks on Robinhood we had on watch to start 2021. In fact, one of the things that was a focal point was the analyst coverage from H.C. Wainwright. The firm currently has a Buy rating on the stock along iwth a price target of $3. Considering the fact that this is one of the stocks under $1 right now, a $3 target equates to a forecast of more than 400% from current levels.

Acasti is currently “exploring and evaluating a range of strategic alternatives” and engaged Oppenheimer & Co to help. The main reason was to undertake a strategic review of the company with the purpose of “exploring strategic alternatives to drive shareholder value”. This includes potential mergers, acquisitions, or other initiatives that involve Acasti and/or its product. In its current pipeline are products including CaPre, the company’s treatment for hypertriglyceridemia.

Read More

You’ll see that no new developments or filings have come about recently. However, momentum continues pushing shares higher. ACST stock has jumped over 70% so far this week. The biggest question now is will the momentum continue into the rest of January?

penny stocks on robinhood to buy under 1 right now Acasti Pharma Inc. ACST stock chart

Robinhood Penny Stocks To Buy Under $1: Assertio Holdings Inc.

Why is Assertio Holdings Inc. on this list of penny stocks on Robinhood to buy under $1 right now? Well, aside from the price itself, ASRT shares have been on the move in a big way since mid-December. What’s more is that trading volumes have clearly increased during the last few weeks as well. Somewhat of a pressing issue for the company is its status with NASDAQ. The exchange had given the company an extension through June 28th of this year to regain compliance and meet the minimum bid price requirement of $1.

There’s still plenty of time between here and there. However, with the company’s restructuring plans in place, it isn’t something to forget about in my opinion. If you recall, the company announced last month that it would be restructuing and changing leadership.

“To adapt to the current market environment and maximize shareholder value, we are refocusing and substantially reducing our operating footprint, which is expected to result in significant cost savings.”

Arthur Higgins, Chairman of Assertio

Assertio said that the restructuring plan is expected to reduce its total annual cost base by approximately $45.0 million, after giving effect to one-time restructuring costs. Furthermore, the majority of its restructuring milestones are expected to be achieved by the end of this quarter. Will it see the same success as other penny stocks under $1? Leave a comment below with your thoughts.

penny stocks on robinhood to buy under 1 right now Assertio Holdings Inc. ASRT stock chart

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Are These Top Penny Stocks To Buy Now Or Avoid Like The Plague?

4 Penny Stocks To Buy Or Avoid Before Next Month