Are These Robinhood Penny Stocks Worth Watching Right Now?
With August speeding by, many investors are searching for the best penny stocks to buy. And right now, there are plenty of factors that are impacting the overall trajectory of the market. With penny stocks, the key to making a profit is understanding how events will shift certain industries or specific stocks. And in 2021, there are quite a few to consider.
The most important of these remains the pandemic. While it initially began as a detriment to the market, quickly, investors found new ways to profit. And a year and a half after it started, those ways have changed slightly, and new methods have been added in.
Many penny stocks investors are focusing on a few industries in specific right now. This includes tech, biotech, EV penny stocks, energy stocks, and more. While this is not a complete list of penny stocks that could benefit from the pandemic, these are a few industries that should remain on your watchlist. And when we add in the volatility that Robinhood offers, we see even more penny stocks that could be worth watching.
In addition to this, investors also have to consider the effects of the over $1 trillion package making its way through the government right now. This could have a large impact on several industries and should be worth keeping an eye on. So, with all of this in mind, let’s take a look at some of the top Robinhood penny stocks to watch as August turns the corner.
3 Hot Penny Stocks to Watch Right Now
- Ebang International Holdings Inc. (NASDAQ: EBON)
- Atossa Therapeutics Inc. (NASDAQ: ATOS)
- Dare Bioscience Inc. (NASDAQ: DARE)
Ebang International Holdings Inc. (NASDAQ: EBON)
Ebang International Holdings Inc. is a tech penny stock that researches, designs, and develops app-specific integrated circuit chips. The company also manufactures Bitcoin mining machines in China, the U.S., and Hong Kong. Its products are sold under the Ebit and EBANG brand names. Over the past year, the popularity of Bitcoin has risen substantially.
And, companies that work in the blockchain or crypto industry respectively, have both seen heightened investor interest. While the recent Chinese regulations surrounding Bitcoin mining did hurt shares of EBON stock, shares seem to have corrected in the right direction since then.
In addition to the popularity of Bitcoin, other crypto-assets such as DogeCoin and Ethereum have also risen in value substantially. And we also have to consider the positivity around blockchain-related assets such as NFTs. All of this serves to benefit Ebang International because of its Bitcoin mining machine manufacturing business.
It’s also worth noting that when Bitcoin performs well, EBON can see correlative momentum as a result. EBON has not released any recent updates, but its volume is strong in recent trading sessions. With all of this in mind, is EBON a contender for your list of penny stocks to watch?
Atossa Therapeutics Inc. (NASDAQ: ATOS)
Atossa Therapeutics Inc. is a biotech company working on the discovery and development of new medicines for oncology and infectious diseases. One of its main products is Endoxifen, which is in Phase II clinical trials to treat and prevent breast cancer. The company is also working on AT-301 drug candidate meant to treat those with COVID-19.
Any company involved in a Covid treatment is one that has seen heightened interest in the past few months. And while Atossa has not yet received approval for this product to be sold commercially, it is working hard to do so. In July, Atossa received approval to open a clinical study of AT-H201 in Australia. AT-H201 is an inhalation therapy for hospitalized COVID-19 patients.
“If the initial parts of the study are successful we will study the efficacy of our proprietary AT-H201 on moderately ill COVID-19 patients who can be treated via a nebulizer. Our goal in developing nebulized AT-H201 is to improve lung function in patients with active disease, which may reduce the number of patients requiring ventilators and in “long-haul” patients who have residual pulmonary function damage.”The CEO and President of Atossa, Steven Quay
While this product is still in the testing stages, it could be a breakthrough for an otherwise unmet area of treating Covid. Keeping this in mind, is ATOS stock making your list of penny stocks to watch?
Dare Bioscience Inc. (NASDAQ: DARE)
Another biotech penny stock that is trending right now is Dare Bioscience Inc. This is a company that develops therapies for contraception, fertility, sexual, and personal health. The company’s DARE-HRT1 product is for treating vasomotor symptoms in hormone therapy. Dare has a wide variety of other products in trials for women’s health as well.
On July 12th, the company announced a collaborative research agreement for the Phase 3 study of Ovaprene. Ovaprene is a hormone-free monthly contraceptive that is in an investigational state right now. While this may seem like a niche area of the biotech industry, there is a lot of unmet needs in the women’s health industry.
“We are thrilled to continue our work with NICHD to advance Ovaprene® through this pivotal study. Grant funding previously provided by NICHD supported the conduct of our pre-pivotal clinical study of Ovaprene. With this CRADA, we have the opportunity to leverage NICHD’s experience in the design and execution of contraceptive studies, as well as continued funding to support the development of Ovaprene.”President and CEO of Dare, Sabrina Martucci Johnson
Collaborative research agreements in the biotech industry are one of the most popular ways that companies grow. And because of this, we could see Dare move forward with Ovaprene in the near future. Considering all of this, will DARE stock be on your list of penny stocks to watch?
Which Robinhood Penny Stocks Are You Watching in August 2021?
Finding the best penny stocks to buy on Robinhood in August is all about understanding where the market is moving. With so many factors occurring simultaneously, it can be difficult to keep up with everything at once.
However, with a commitment to research and gaining a trading education, finding the best penny stocks to buy for your watchlist can be easy. Considering all of this, which penny stocks are you watching in August 2021?