Are Robinhood Penny Stocks Worth Buying?

Robinhood penny stocks are some of the hottest securities out there right now. It’s worth noting that there are no penny stocks to buy that only exist on Robinhood. Rather, finding stocks for under $5 on Robinhood is an accessible way to trade these securities. 

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So, because Robinhood is the most accessible trading platform, many traders use it to buy and sell penny stocks. This is due to zero commission and the democratization of trading that the platform has pushed. 

Finding Penny Stocks on Robinhood

Like any penny stocks, investors need to do their due diligence before investing. This is the best way to ensure that you know exactly what company you are investing in.

That includes looking at its financials, balance statements, corporate updates, rumors, news, and anything else that the company has put out. To create a complete picture of a given penny stock to watch, understanding what makes it move is the best way to make a solid watchlist. 

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In May 2021, there are hundreds if not thousands of penny stocks to choose from. And while they may not all be listed on Robinhood, there are plenty on there to watch. With this in mind, investors should also consider the macroeconomic trends that are in play right now. This includes the pandemic, economic inflation, and others. Considering all of this, let’s take a look at three Robinhood penny stocks that you should check out right now. 

3 Robinhood Penny Stocks to Watch 

  1. MoSys Inc. (NASDAQ: MOSY
  2. Nokia Oyj (NYSE: NOK
  3. Zomedica Corp. (NYSE: ZOM

Penny Stocks to Watch: MoSys Inc. (NASDAQ MOSY) 

We’ve been covering MoSys Inc. for quite some time due to its underlying technology and big price moves. On Friday, May 14th, shares of MOSY stock shot up by a staggering 43% by 11 AM EST.

While no company-specific news is responsible for this, we can look at the overall tech industry and its latest balance sheet to understand why. For starters, MoSys works as a tech company providing silicon chips and IP solutions for intelligent data, cloud networking, security, 5G, and more. 

On one hand, there is a massive worldwide shortage of computer chips right now. This means that these chips are in extremely high demand. On the other hand, in the U.S., the hacking of the Colonial Pipeline a few days ago put a major emphasis on cybersecurity.

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While these two factors may have a lot to do with MOSY’s price movements, there are likely other factors at play. Last week, MoSys announced its Q1 2021 financial results. In the results, net revenue came in at around $1.3 million with a GAAP net loss of $1.4 million. 

“During the quarter, we won multiple new designs for our IC products by leveraging our proven track record with customers and expanded sales channels.

We are encouraged by our expanding pipeline and continue to strategically invest in future growth opportunities. With over $11 million in cash and investments as a result of our registered direct offering and warrant exercises, we are in a stronger financial position in 2021.”

Dan Lewis, CEO of MoSys Inc.

Considering this and its large rise today, will MOSY stock be on your watchlist?

Penny_Stocks_to_Watch_MoSys Inc. (MOSY Stock Chart)

Penny Stocks to Watch: Nokia Oyj (NYSE: NOK) 

Nokia Oyj is another decent gainer of the day, with its price hovering just under $5. This means that it is close to moving out of penny stock territory. Today, the company announced that it has achieved a historic milestone with 100 customers in a year using its Quillion chipset-based broadband solutions.

This is a large move to gain a bigger foothold as a 5G penny stock. Additionally, only a day earlier, the company announced the deployment of a data center switching solution to provide OpenColo with an open and programmable NOS to meet its 5G needs. 

“Nokia and its SR Linux was an easy choice. We wanted a solution that was extensible, open, supported telemetry and gNMI, and was provided by a company that transforms the networking both on the hardware and software side. Even more, we needed a partner that understands our needs and can work very closely with us to reimagine our architecture and solve some of our biggest problems.”

Scott Brookshire, CTO of the parent company of OpenColo

While this alone is not a major deal, it does provide a basis for considering NOK a big player in the 5G infrastructure market. 

Additionally, Nokia stated recently that it will be receiving $97 million from Ericcson (NASDAQ: ERIC) for a 2019 claim settlement. So, given its cash position and the number of updates that NOK makes, it continues to be a newsworthy company. And, as a large player in the tech marketplace, many investors look to NOK as a prime example of what a tech penny stock can be. Considering this, is NOK stock worth watching?

Penny_Stocks_to_Watch_Nokia Oyj (NOK Stock Chart)

Penny Stocks to Watch: Zomedica Corp. (NYSE: ZOM) 

Another penny stock that we’ve covered plenty of times in the past few months is Zomedica Corp. While shares of ZOM stock tend to show momentum on little to no news, on Friday, shares shot up by around 8% at midday on the announcement of its Q1 2021 results. While it did report a net loss of $4 million, Zomedica ended the quarter with more than $276 million in cash. This is exponentially more than the $1.5 million it had at the end of Q1 2020. 

“Our first product, Truforma is now on the market and we are building out our direct sales organization to reach our customers; we are working hard with Qorvo Biotechnologies, our technology partner, to complete additional assays to complement the initial three that are currently available to customers, and we have cash and cash equivalents of more than $250 million to support our commercialization efforts and our product and corporate growth plans. We believe that we are well-positioned for success.” 

Robert Cohen, CEO of Zomedica Corp

As a provider of veterinary diagnostic tools, Zomedica only recently began to commercialize its flagship product, Truforma. Because this is still very much in the early stages, it looks like ZOM could have potential down the road.

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And with a sizable cash position, ZOM could have enough funding to continue building out its operations for the future. So, will ZOM be on your list of penny stock to watch? 

Penny_Stocks_to_Watch_Zomedica Corp. (ZOM Stock Chart)

Are Robinhood Penny Stocks Worth Buying?

Buying penny stocks on Robinhood is a great way to take the first step into the under $5 market. But, just because a penny stock is listed on Robinhood, doesn’t mean that it is worth buying. 

Rather, investors need to figure out what their investing style is, and how to use it to their advantage. And with so many options to choose from right now, it’s up to you to decide if Robinhood penny stocks are worth buying. 

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