Will These Penny Stocks on Robinhood Continue to Show Potential Next Month?
While this week has been a wild one for trading penny stocks or blue chips, investors are looking forward to a new month. A new month can effectively cause a reset despite it having no significance beyond symbolism. And, with July showing heightened volatility for penny stocks amid a surge in delta-variant related Covid cases, a reset seems to be what many investors are looking for.
While Monday, July 19th was one of the worst trading days of the year, since then, stocks have gone on to a 4-day winning streak. Despite the spread of the Delta variant, it seems as though investors are looking beyond the current state of the pandemic, and into a reopened future.
With so many penny stocks to watch making moves right now, how can we tell which ones are worth buying? Well, consider what’s going on in the world and how that may affect certain penny stocks or industries as a whole. And as always, use your trading strategies as an advantage. Considering this, let’s take a look at three penny stocks on Robinhood for your August watchlist.
3 Robinhood Penny Stocks to Watch in August
Staffing 360 Solutions Inc. (NASDAQ: STAF)
Staffing 360 Solutions Inc. is a penny stock that we’ve discussed frequently in the past few months. This is due to its consistent momentum in the market and potential future demand increase. Staffing 360 Solution’s main focus is providing job placement services around the country. In addition it works to acquire other staffing companies.
The type of companies it acquires are those that hire temporary contractors, permanent placement employees, and more. Its services are offered to engineering, administration, commercial, and many other types of companies. One way to understand what STAF stocks Ould do is to look at the jobs report that comes out quite often. This will indicate the potential market size that STAF could have. On June 30th, the latest update from Staffing 360 was released. The corporation announced a reverse stock split to keep its NASDAQ listing.
“We are effecting this reverse stock split to raise Staffing 360’s common stock price to regain compliance with the NASDAQ Capital Market’s $1.00 per share minimum bid continued listing requirement. We believe the trading of our shares on a national market increases our visibility in the marketplace, improves liquidity, broadens and diversifies our shareholder base, and ultimately enhances long-term shareholder value.”The Chairman and CEO of STAF
A few days after the announced stock split, STAF stock experienced a huge spike. After this spike, its stock price quickly corrected as most do.While shares are down YTD, we have to consider the pandemic and its effects on the job market. But, as more people look for jobs nationwide, this could have an effect on STAFs bottom line. So with this in mind, will you add STAF to your list of penny stocks to watch?
BIOLASE Inc. (NASDAQ: BIOL)
BIOLASE Inc. is a biotech penny stock that is performing well in the market right now. This is a company that sells laser systems for the dental sector. These systems assist with dental procedures such as surgical, cosmetic, and restoration. Its Waterlase systems are one of its main products, and are in use for many common dental procedures. It also offers diode laser systems for pain therapy, teeth whitening, and more.
On June 3rd, it was announced that recent studies showed its Waterlase system is beneficial for peri-implantitis treatment. This is an inflammatory disease, and this technology can help those that are suffering from it. While the pandemic initially led to a decrease in those seeing dentists, the company quickly stated that levels had reached pre-pandemic numbers.
“Although studies can vary, data suggests as much as 56% of people with dental implants may have peri-implantitis. Unfortunately, treatment methods for peri-implantitis can be painful, costly, ineffective and unpredictable.
The findings of these recent studies confirm that Waterlase laser technology can be a more viable treatment option than alternative methods. We look forward to continuing to provide dentists with minimally invasive treatment options through advanced laser technology that benefits their patients.”The CEO of BIOLASE Inc., John Beaver
YTD, shares of BIOL are up by almost 30%, and in the past twelve months, that number jumps to almost 40%. With this in mind, is this biotech penny stock a contender for your August watchlist?
MoSys Inc. (NASDAQ: MOSY)
MoSys Inc. is a tech penny stock that just experienced a large share price increase. This company creates integrated circuits for the U.S. and international markets. These circuits allow for high-speed cloud networking, security, video, and more. It also offers bandwidth engine ICs, programmable hyperspeed engine IC products, SRAM memory devices, and much more.
On June 29th, APS Networks selected MoSys silicon to increase the performance and user connection quality to its advanced programmable switches. The CEO of APS Networks said, “MoSys Accelerator Engines offer advanced capabilities to help enable APS Networks range of OpenBNG switches to accelerate innovate access edge solutions”
In addition to this recent update, MoSys recently closed a $13 million registered direct offering. This should add a great deal of capital into the company’s balance sheet, which could help it to embark on current and future projects. On July 22nd, MOSY stock shot up by around 8.87% in the market. YTD, shares of MOSY stock are up by almost 110%, which is quite substantial. MOSY stock was at $4.51 per share just 5 days ago, and is now at $4.91 per share on July 22nd. With this recent momentum in mind, will you add MOSY to your list of penny stocks to watch?
Why Robinhood Penny Stocks?
The rise of Robinhood has helped to create one of the most democratic stock markets ever. With more people than ever before having access to investing, billions of dollars in capital have flooded into the market in the past few years.
While this has created a rather volatile environment, it has also helped to bring new companies to the forefront. And with so many penny stocks to choose from right now, the choice is ultimately yours. Considering this, the hopes are high that Robinhood penny stocks can continue to stay on top.