7 Robinhood Penny Stocks to Watch For a Pandemic-Related Boost
While the pandemic initially caused major bearish sentiment among penny stocks, since then, many leading small-caps have benefitted. And right now, as the Delta variant takes over, many investors are looking for a list of penny stocks that will grow accordingly.
One example of this is retail stocks. These companies have climbed as more people are at-home shopping, and now, beginning to go out to purchase goods once again. Today, Newegg Commerce Inc. (NASDAQ: NEGG) showed just how bullish that momentum can be, pushing up by over 100% at midday. While NEGG stock is just one example, there are plenty to choose from.
And outside of retail, we have tech stocks, biotech stocks, and energy stocks, that all stand to benefit from both the pandemic and the reopening of the economy. And if we factor in the effects of Robinhood, we see high volatility which can be both a major positive or a negative. So, considering all of this, let’s take a look at some of the best Robinhood penny stocks to watch that could be pandemic proof.
5 Robinhood Penny Stocks to Watch Right Now
- Globalstar Inc. (NYSE: GSAT)
- Inpixon (NASDAQ: INPX)
- ToughBuilt Industries Inc. (NASDAQ: TBLT)
- Digital Ally Inc. (NASDAQ: DGLY)
- Borr Drilling Ltd. (NYSE: BORR)
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a penny stock that we have discussed frequently in the past few months. This is due to its constant movement and overall popularity in the market. Globalstar is a communications company that provides mobile satellite services. This includes two-way voice and data products such as satellite communications, mobile voice and data services, and more.
Its services are used for emergency location, remote business continuity, safety, and more. Additionally, its SPOT retail products such as the SPOT satellite GPS messenger is used for personal tracking and emergency location.
On July 1st, Globalstar announced a partnership with FocusPoint International Inc. This partnership is to provide crisis assistance services under the Global Overwatch & Rescue Plan to Globalstar customers. Customers will have access to a team of highly experienced medical, security, and crisis response specialists to address incidents caused by natural disasters and incidents.
“We are so pleased to extend this valuable service to Globalstar customers. Many of our users partake in extreme sports and engage in higher than average travel frequency making this offering a service that can help further improve our customers’ peace of mind. FocusPoint provides a comprehensive risk consulting service that is a great compliment to the connectivity we provide our customers.”CEO of Globalstar, David Kagan
Globalstar’s interesting market position and continuous momentum shows just how popular it is right now. Considering this and based on this new advancement will GSAT stock make your watchlist this week?
Inpixon (NASDAQ: INPX)
One tech penny stock that has been performing well in the past few weeks is Inpixon. This company provides big data analytics and location-based products. Its Inpixon Sensor 4000 product is a passive RF sensor to detect signals ranging from pings to a cell tower, to active wireless transmissions. Inpixon also offers data analytics solutions such as IPA Wi-Fi, which is a cloud-based data analytics engine for visitor metrics and insights. It does so by ingesting diverse data from IoT, third-party, and proprietary sensors.
The latest update from Inpixon came from June 28th. This is when the company announced that it has been added to the Russell Microcap Index. The addition to the index took place after the markets opened on June 28th, 2021.
“We are pleased to be included in the Russell Microcap Index. We believe this addition is reflective of our continued growth over the past year as we completed meaningful acquisitions and enhanced our Indoor Intelligence platform.[We] also added our smart office app with The CXApp acquisition which is being used by large enterprises to facilitate safe office re-openings, desk bookings, employee engagement, and hybrid events.”CEO of Inpixon, Nadir Al
This event caused INPX stock price to spike, however, it quickly corrected, and most do when big news is announced. While trading has been very mixed for INPX in the past year, it does have a lot to offer investors. So keeping this information in mind, will you add INPX stock to your watchlist in 2021?
ToughBuilt Industries Inc. (NASDAQ: TBLT)
ToughBuilt Industries Inc. is an industrial company that designs, develops, manufactures, and distributes home improvement and construction products. These products are sold to those in the construction and retail home improvement industry. It offers tool pouches, tool rigs, tool bags, and many more products for personal use. It also offers miter saws, table saws, roller stands, and other job site offerings.
The latest update from ToughBuilt comes from May of this year. This is when the company released its first-quarter financial results for 2021. The company experienced 214% in revenue growth year over year to $12.3 million. This is due to the increase in home improvement that has occurred during the pandemic.
“The strategic investments we’ve made in research and development, coupled with our manufacturing and distribution capabilities, continue to pay off, which translated into significant revenue growth and a robust backlog coming out of the first quarter of 2021.”The CEO of TBLT, Michael Panosian
TBLT stock has been increasing in the market recently. Its volume is also much higher than its average. With this in mind, will TBLT make your list of penny stocks to watch?
Digital Ally Inc. (NASDAQ: DGLY)
Digital Ally Inc. is an industrial stock that produces and sells digital video imaging, storage, and disinfectant. These safety products are in use in law enforcement, security, and more. It offers in-car digital video mirror systems for law enforcement, bodycams, and much more.
In the past, Digital Ally has transitioned its business to wherever it is needed. This is a solid strategy and one that is paying off as seen in its most recent announcements. On June 7th the company formed a new business unit to pursue healthcare market opportunities. The company has contributed $13.5 million of capital to this venture. The
“Last year we added the Shield Health Protection Products line to address parts of the health and wellness market. The Shield line includes Shield Cleansers, a highly effective, yet safe, disinfectant and sanitizer for use against SARS-CoV-2, a non-contact thermometer/controlled-entry device, an electrostatic sprayer for fast and efficient disinfecting of large areas, and a variety of personal protective equipment including face masks, gloves, and sanitizer wipes.”CEO of Digital Ally Stan Ross
Because of Digital Ally’s ties to fighting COVID-19, it continues to catch attention from investors. And, with cases increasing again in specific parts of the country, many believe that the need for its products could increase. Whether this makes DGLY worth adding to your watchlist is up to you.
Borr Drilling Limited (NYSE: BORR)
Borr Drilling Limited is an oil and gas penny stock that provides offshore drilling. The company owns, contracts, and operates jack-up rigs for operations in shallow water areas. It serves oil and gas exploration and production companies, such as independent and state-owned oil companies. As of December 31st, 2020 the company had a fleet of 24 jack-up drilling rigs.
And on July 6th the company announced an at-the-market offering of up to $40 million. This should help to fund a large number of future endeavors, as capital is extremely important to the energy industry.
Other than this, there have not been any recent updates from Borr Drilling. Yet on July 6th, the company’s stock price went up by 0.42%. Its volume is also higher than its average at the moment. As many oil and gas penny stocks are performing well, it seems like BORR stock is benefitting from the increased demand for energy right now. The company has gone down in price over the last month but there have been several spikes since then. Considering these exciting factors, will BORR make your penny stock watchlist?
2 More Robinhood Penny Stocks to Watch Right Now
Robinhood Penny Stocks Continue to Show Momentum
There’s a reason that so many investors choose to buy penny stocks on Robinhood. With no commission trading and an intuitive platform, it has become the choice brokerage for all types of retail investors.
Granted, there are plenty of brokerages out there to choose from, but Robinhood is extremely popular. And, it has opened up the world of investing to a new breed of trader; one that usually follows popular trends and one with a disregard for institutional trading. Considering all of this, which penny stocks are on your watchlist right now?