12 Robinhood Penny Stocks to Watch Right Now
Finding penny stocks on Robinhood has become a favored pastime for all types of investors. Robinhood not only allows access to a solid amount of penny stocks, but it also offers commission free trading. While the brokerage can halt trading during times of extreme volume, the day to day use of the platform is relatively easy and straightforward. And besides being the most accessible brokerage out there, Robinhood is the vehicle that a great deal of social media penny stocks use to climb to new highs.
One thing to keep in mind is that if a penny stock is both trending and on Robinhood, the chances are slightly higher that it will be very volatile. But, this volatility is something that can be put to good use if you have the right strategy on hand. Considering that there are hundreds of penny stocks to choose from, finding the best ones can be difficult.
This is a continuation of ‘Best Robinhood Penny Stocks to Buy Right Now? 7 For Your Watchlist’ so if you haven’t read that, go give it a first look. With that in mind, here are five more penny stocks to watch.
5 More Robinhood Penny Stocks to Watch Right Now
- Transocean Ltd. (NYSE: RIG)
- Document Security Systems Inc. (NYSE: DSS)
- Verb Technology Company Inc. (NASDAQ: VERB)
- Palatin Technologies Inc. (NYSE: PTN)
- Federal National Mortgage Association (OTC: FNMA)
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is an energy penny stock that is on many investors watchlists right now. This company specializes in offshore drilling and is engaged with some of the latest technologies in the industry. Using its patented and unique Active Power Compensation Hybrid System, Transocean is able to remain one of the most innovative energy companies on the market. It’s worth noting that it operates a wide variety of drillship and jack-up operations. With a major emphasis on the energy sector right now, RIG stock looks like it could be worth paying attention to.
Recently, the company announced that it had secured several drilling contracts worth a total of $116 million. This includes contracts for two of its semisubmersible harsh-environment ships. Both contracts will begin in 2022, and they are expected to bring in a sizable amount of revenue for the company. To date, the company reports owning or having a stake in around 37 mobile offshore drilling units. This is quite a substantial amount, and makes Transocean the world’s largest offshore drilling contractor. With this in mind, will RIG stock be on your watchlist moving forward?
Document Security Systems Inc. (NYSE: DSS)
As cryptocurrencies continue to make headlines, related companies are also seeing solid bullish sentiment. Document Security Systems is a decent sized player in the cryptocurrency market and it works in the blockchain security side of the industry more than anything else. As a company, DSS specializes in bank protection technology, blockchain security, direct marketing, consumer packaging, healthcare, renewable energy, securitized digital assets, and real estate.
Lead by Mr. Fai Chan, a successful business veteran, DSS runs on a business model that is centered around a distribution sharing system. This is where shareholders receive shares in subsidiary companies that DSS strategically owns. Mr. Fai Chan has reconstructed over 35 corporations that are now worth a combined $25 billion.
And, due to its exposure to the blockchain market, many investors are looking at DSS as a blockchain penny stock to watch. While its operations are very broad, right now this is a highly desirable trait. So, considering all of this, what do you think of DSS? Is it worth watching in the coming months?
Verb Technology Company Inc. (NASDAQ: VERB)
Another tech penny stock we have been covering these past few weeks is Verb Technology Company. As of today, it rose by 25% in early morning trading which is quite substantial. This was most likely because Ascendiant Capital gave VERB a buy rating and a $4 target price.
When an analyst gives a rating, it often has a large reflection onto a stocks price, regardless of whether or not it reaches that goal. So while this should be taken with a grain of salt, it is something to consider. As a business, VERB is a Software-as-a-Service (SaaS) company. Its platform is comprised of subscription-based sales enablement software that is meant to help its clients. These applications are available both on mobile and desktop devices.
The e-Commerce market that VERB operates within has seen tremendous growth over the past year. With increased online retail and purchases, its SaaS business has thrived within the sector. Given that the world is transitioning to a heavily-online based economy, SaaS has a large market opportunity. The advanced technology it offers to its customers helps them both scale and maintain their online business. Considering this, what do you think of VERB as a penny stock to watch?
Palatin Technologies Inc. (NYSE: PTN)
Another sector that has been showing strong growth over the past couple of months is the biopharmaceutical industry. Palatin Technologies is one of the leaders in its own industry, developing first-in-class medicines for disease treatment. Its medicines are based on molecules that specifically regulate melanocortin and peptide receptor activity. Each offers targeted receptor-specific product candidates and are intended for diseases that so far are unmet by other medical interventions.
Today PTN released news of its completion of an End-of-Phase 2 (EOP2) meeting that was held with the FDA. This EOP2 meeting was for its PL9643 drug meant for dry eye disease (DED) treatment.
“We now have clarity on the registrational path required to demonstrate the safety and efficacy of PL9643, having reached agreement with FDA on all key elements of PL9643’s pivotal phase 3 program for DED.
This is an important corporate milestone, as we now have a second melanocortin agonist in phase 3 development, which we believe validates our strategy which focuses our efforts on the development of melanocortin based therapeutics for inflammatory and autoimmune conditions.”Carl Spana, President and CEO of Palatin
This is big news and could make PTN stock more popular in the coming trading days. In the past five days, shares of PTN have shot up by over 15%, indicating solid bullish sentiment. With this in mind, will it be on your watchlist?
Federal National Mortgage Association (OTC: FNMA)
Fannie Mae and Freddie Mac are two important publicly traded enterprises that supply housing loans in the U.S. The two private companies were bailed out by the government during the housing crisis, resulting in a government take over of the businesses.
Both provide liquidity, stability, and affordability to the mortgage market so citizens can take out loans to finance housing. Recently, shareholders tried to argue that the federal control of these two enterprises was unconstitutional and that the government was in the wrong in its attempt to institute a net profit sweep.
“When the FHFA acts as a conservator, it may aim to rehabilitate the regulated entity in a way that, while not in the best interests of the regulated entity, is beneficial to the Agency and, by extension, the public it serves. This feature of an FHFA conservatorship is fatal to the shareholders’ statutory claim.”Justice Samuel Alito
While the claim was essentially dismissed from court, it is an important idea for investors to consider. On the day that the case was voted against, shares of both FNMA and FMCC stock both shot down in the high double digit percentage points. But, on June 29th, a major rebound occurred with both FNMA and FMCC rising by just under 10% respectively. While it is highly volatile right now, FNMA stock could be worth looking into.
Do Robinhood Penny Stocks Fit Into Your Portfolio?
Making a penny stocks watchlist is all about understanding what your individual goals are. With so much at play in the stock market right now, it can be challenging to stay up to date with everything that is going on.
However, consistently checking the news and knowing what is making certain penny stocks or industries move, will always be a major benefit. And in 2021, there are a lot of factors to consider. So, with all of this in mind, do Robinhood penny stocks fit into your portfolio?
To read about the other penny stocks on this list head to Best Robinhood Penny Stocks to Buy Right Now? 7 For Your Watchlist