Are These On Your List Of Penny Stocks To Buy This Week?
Love it or hate it, Robinhood and the popular penny stocks on the platform continue generating attention. The app and its founders came under fire recently amid the big GameStop (NYSE: GME) short squeeze. While many threatened to sue the app and plenty of celebrities voiced outrage against the millennial-driven broker, users continue flocking to it. One of the biggest reasons I think is that it’s simple to set up and use. This has unfortunately been a root cause for the downside to trading. Since you only need to fill out minimal info and then fund your account, the actual process of learning how to day trade seems to have been pushed aside.
Like anything worth pursuing, education is paramount. However, thanks to the Reddit army and apps like Robinhood, the barriers to entry are low, and the hype is unparalleled right now. You’ve also got a unique situation wherein people are still stuck home or without jobs looking for alternatives. This has created a renaissance in retail trading. If you look at the penny stock brokerage growth stats from last year, you’ll see heavy favor for Robinhood. Without complicated charting, technical indicators, or even streaming news, the app has set itself apart from others in being a very clear-cut way to buy penny stocks.
As I’m sure many have already figured out, buying is easy but understanding how to day trade successfully is not as simple. I won’t get into day trading basics in this article. But I will say that if you are newer to the markets, do yourself a favor and get some education first. It’s easy to trade penny stocks in functionality; all you need to do is tap a few buttons. But to understand when to buy or sell, determine why a stock is moving, and get a feeling for certain trends, you need to learn, first, in my opinion.
Robinhood Penny Stocks
So let’s assume you’ve already gotten your bases covered with education. You know how to day trade, and you’re putting a watch list together. What are you looking for? Volume, technical trends, news, filings, etc…These all play roles in deciding which penny stocks to buy.
At the very least, these factors go into your strategy of putting a sound list of stocks together. In this article, we’re going to discuss some of the trending penny stocks on Robinhood. I’ll look into recent events and what may have sparked certain trends recently. Then it will be up to you to decide that just because they’re “trending,” will they be the best penny stocks to buy this week or avoid entirely?
Robinhood Penny Stocks To Buy [or avoid]
- Globalstar Inc. (NYSEAMERICAN: GSAT)
- Tellurian Inc. (NASDAQ: TELL)
- BriaCell Therapeutics Corp. (NASDAQ: BCTX)
- Citius Pharmaceuticals Inc. (NASDAQ: CTXR)
- Celsion Corporation (NASDAQ: CLSN)
Robinhood Penny Stocks To Buy [or avoid] #1: Globalstar Inc.
GSAT is a penny stock that we have covered several times in the past few months. Back in December, shares of GSAT were trading under $0.35 per share. A few months later, shares have jumped by over 400% since December 1st. So what’s driving this large rally for Globalstar? Well, Globalstar is a large part of the bullish rally on 5G penny stocks. As a communications and satellite service provider, the company operates low earth orbit satellites. In addition to providing these services, the company offers customized IoT solutions for a wide range of customer markets. This includes oil and gas, transport, emergency management, governments, and others.
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Additionally, the company offers several products, including IoT satellite transmitters and its SPOT products. The latter offers personal safety and messaging products for use in the emergency response industry. Recently, the company announced that Qualcomm Inc. would be using its Band n53 product in its new 5G X65 modems. This is just one example of Globalstar aligning with major market leaders in communications.
Over the past year, interest from the public has continued to grow in the 5G marketplace. Because this technology is still relatively new, companies are jumping at the opportunity to be a part of it. As a player in the communications tech space, Globalstar has an extensive consumer base. While it may take some time to see 5G adopted worldwide, in the meantime, GSAT has remained one of the penny stocks to watch.
#2: Tellurian Inc.
Tellurian Inc. recently reported its quarterly earnings. In the report, Tellurian produced roughly 16.9 billion cubic feet of natural gas for the year as a whole. This represents 3 million more than the previous year. Additionally, the company ended 2020 with more than $78 million in cash on hand.
This demonstrates that Tellurian could be in a solid financial position moving forward. While it did report a sizable net loss of over $210 million, President and CEO Octávio Simões appeared optimistic about the future of the company.
“Tellurian is in a strong financial position with substantial liquidity after taking on expense reduction activities and significant debt reduction measures in 2020, and subsequent prepayments in 2021. Operationally, our Haynesville Shale wells have outperformed to unlock value, providing domestic natural gas supply and a valuable contribution to our integrated Driftwood model which will offer low-cost liquefied natural gas to the world.”
During the quarter, Tellurian also managed to reduce its debt by more than $57 million. Simões also stated that “Tellurian is delivering on our debt reduction plan and strengthening our balance sheet, with comfortable liquidity for operations and a market capitalization value of over $1 billion. We are producing natural gas from our Haynesville position as we watch the global natural gas market restructure.”
Robinhood Penny Stocks To Buy [or avoid] #3: BriaCell Therapeutics Corp.
BriaCell Therapeutics recently IPOd on the Nasdaq in late February. Prior to this, it had been trading on the OTC under the symbol BCTXF. It was also a relatively quiet stock, trading just a few thousand shares per day. The initial offering price was $4.25, and as you’ll see, anyone buying at that price in this IPO is down as of Friday’s closing bell.
So why could BCTX stock be one to watch right now? Let’s get a little more context on the company first. BriaCell specializes in targeted immunotherapy for advanced breast cancer. Its lead product candidate, Bria-IMT™, has shown potential in recent studies. In January, Dr. Bill Williams, BriaCell’s President & CEO, presented the clinical and pathological data of Bria-IMT™ monotherapy and Bria-IMT™ in combination with immune checkpoint inhibitors, including pembrolizumab (KEYTRUDA®; manufactured by Merck & Co., Inc.) in advanced breast cancer. The goal is to make an off-the-shelf cancer therapy.
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The public offering was recently closed on Friday and new filings came out showing stakes taken by a few institutions. These included a 9.9% stake from Lind Global Macro Fund, LP and a 4.9% stake from Michael Bigger’s associated funds. In a tweet last week, Bigger said, “We went in aggressively. $3 million pre money, NASDAQ listing and cashed up. $BCTX.”
#4: Citius Pharmaceuticals Inc.
Citius could be another one of the Robinhood penny stocks to watch this week. While the closing session was relatively quiet, CTXR stock popped late during the aftermarket session. No news or filings came out associated with the move. However, CTXR has clearly enjoyed strong, bullish momentum over the past few months. Since the start of 2021, CTXR stock has climbed from $1 to highs of $2.90. Last week saw a pullback in the penny stock that may have been credited to the overall drop in the market, in general.
Needless to say, there are several things to make mention of, which could be points of focus heading into the new month. The foremost of which is its clinical programs. This includes a proposed pivotal trial for Mino-Lok, Citius’ antibiotic lock solution used to treat patients with catheter-related bloodstream infections. Full enrollment for a Phase 3 pivotal trial is expected this year.
Furthermore, the company’s expected to file an Investigational New Drug Application for its Halo-Lido and initiate our Phase 2b trial by year-end. Halo-Lido is the company’s hemorrhoid treatment that combines halobetasol and lidocaine (halo-lido). Furthermore, the company has its NoveCite i-MSCs Program. This is one that Citius plans to submit an IND to the FDA and begin a Phase 1 first-in-human clinical trial in COVID-19 ARDS. Helping to boost progress, Citius recently raised $76.5 million to put to work with clinical developments in the diverse pipeline.
#5: Celsion Corporation
Shares of CLSN stock have been incredibly volatile this year. Jumping between lows of $1.32 and highs of $3.48, overall, the trend has been upward. What’s more, CLSN stock has managed to hold support above its 200-Day Moving Average, all while the 50-Day Moving Average continues rising. Technical traders are likely keeping an eye on this interesting set-up as it could create a golden-cross on the chart. Generally speaking, a gold cross is a bullish set-up where the 50 crosses up and over the 200, usually marking a strong underlying uptrend.
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Whether or not this becomes the case will depend on how the market responds to company milestones. In particular, Celsion will host meetings at the upcoming Roth Conference this month. March 15 – 17 marks the conference’s duration, so keep those dates in mind if CLSN is on your watch list. Other than that, more recent excitement has stemmed from news that Celsion’s GEN-1.
Patients who completed interval debulking surgery were tracked, with 80% of those treated with GEN-1 showing an R0 resection compared with 58% of control patients, which was a 38% improvement according to the company. GEN-1 is Celsion’s DNA-mediated interleukin-12 (IL-12) immunotherapy, which recently received Fast Track designation from the FDA.
