robinhood penny stocks to watch

3 High Volume Robinhood Penny Stocks to Watch Now

Penny stocks with high volume can be a great indicator of where the most popular small-caps are. For those unfamiliar, volume is the number of shares bought or sold on a given trading day. Often, investors will use this metric as a way to find trending penny stocks, however, there are other uses for this as well. 

In addition to seeing a stock’s popularity, volume is a direct indicator of how liquid a stock is. This is essentially how fast an investor can buy or sell a stock. If the volume is high, trades will go through quickly, and prices will shift in small increments. On the other hand, if the volume is low, it may take some time for a trade to go through, and in the meantime, prices could jump or fall substantially. This is not to say that high-volume penny stocks won’t be volatile, but rather the price increments will typically be smaller. 

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When Robinhood comes into play, we often see even higher volume than usual. This is due to the sheer amount of traders on the platform that tend to buy penny stocks. So, considering all of this, let’s take a look at three high-volume penny stocks to watch on Robinhood right now. 

3 Robinhood Penny Stocks to Watch Right Now 

  1. Chembio Diagnositcs Inc. (NASDAQ: CEMI)
  2. 1847 Goedeker Inc. (NYSE: GOED
  3. OPKO Health Inc. (NASDAQ: OPK

Chembio Diagnostics Inc. (NASDAQ: CEMI)

Chembio Diagnostics Inc. is a biotech company that creates diagnostic tests used for detecting diseases. The company has caught attention recently as it offers testing kits for COVID-19. Chembio also develops diagnostic tests for HIV, Syphilis, Zika, and much more. Throughout the pandemic, companies working on products for Covid have seen heightened investor attention. This makes sense, however, these companies are still receiving interest as cases continue to rise globally. 

Just like many other biotech companies at the moment, Chembio reported its second-quarter financial results this month. The company’s second-quarter total revenue grew by 26% in this time frame. Its total product revenue reached $3.9 million, a 4% increase year over year. Chembio also received an HIV Test purchase order to Ethiopia for $4 million in the second quarter. This is all big news for the company and shows that CEMI is working hard to continue growing right now. While its Covid testing business is prominent right now, the orders it has for its other disease tests are also increasing. 

“Looking forward, we believe the investments we have made in product development, expanding our commercial infrastructure, and our automated manufacturing operations position us for future success.”

President of Chembio, Richard Eberly

Based on all of these positive results, is CEMI a contender for your list of penny stocks to watch?

Penny_Stocks_to_Watch_Chembio_Diagnostics_Inc_CEMI_Stock_Chart

1847 Goedeker Inc. (NYSE: GOED)

1847 Goedeker is an e-commerce company that sells appliances and furniture in the United States. In addition to this, the company also sells fitness equipment which has been in high demand throughout the pandemic. Some of its other product offerings include televisions, plumbing fixtures, outdoor appliances, and patio furniture. In the past six months or so, many consumers have taken the extra time at home to begin completing renovation projects. This has led to heightened demand for appliances, furniture, and a long list of the products that 1847 offers.

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On August 12th, 1847 Goedeker announced its second-quarter results for 2021. In the quarter, the company’s combined proforma revenue grew by 43.1% to $140.1 million. Its combined proforma adjusted net income and EBITDA were $17.3 million and $15.2 million respectively. These numbers are exciting for investors to consider as they illustrate both the growth of 1847 Goedeker as well as the industry it works in. Additionally, investors can keep an eye on nationwide retail numbers as it could be a solid indicator of where GOED is headed. 

“We believe our strong second-quarter proforma results reinforce the many operational benefits and synergies presented by the Appliances Connection acquisition. Now that the transaction is closed, we are well-positioned to scale and aggressively pursue our intermediate-term goal of achieving $1 billion in annual revenue.”

CEO and Director of 1847 Goedeker, Doug Moore

With its revenue growing substantially, Goedeker is taking advantage of the current state of retail sales in the U.S. While it may take some time to achieve its $1 billion annual revenue goal, it does look like it is well on the way. Based on this new info, will 1847 Goedeker make your list of penny stocks to watch this month?

Penny_Stocks_to_Watch_1847_Goedeker_Inc._(GOED_Stock_Chart)

OPKO Health Inc. (NASDAQ: OPK)

Up by over 6% at midday today are shares of OPK stock. OPKO health is a company that we’ve discussed frequently in the past year for its large price swings despite its YTD loss. If you’re unfamiliar, OPKO is a company that produces both diagnostics and pharmaceuticals. Its services are used to diagnose, monitor, and treat various diseases. OPKO Health’s main subsidiary BioReference Laboratories, has been a major success story for the company since its acquisition. 

On August 16th, BioReference Laboratories acquired U.S. Ariosa’s centralized laboratory prenatal testing business from Roshe. Ariosa’s Harmony Prenatal Test is one of the most widely studied tests used in prenatal screening. This test has been performed in more than 1.5 million patients to date. With this, BioReference could have an alternate value point for investors to take a closer look at. And while it may take some time for the revenue from this product to be reflected in BioReferences’ results, it is undoubtedly an exciting prospect. 

“Acquiring the U.S. Ariosa centralized laboratory prenatal testing business allows us to expand our NIPS offerings and further underscores our commitment to prenatal screening, allowing BioReference and GenPath to advance high quality and accessible testing that positively impacts the medical care and outcomes of patients and their families.”

Executive Chairman of OPKO Health, Jon R. Cohen

Considering this exciting news, the progress that OPK and its subsidiary, BioReference labs are making is a major plus for investors. With this in mind, is OPK a contender for your penny stock watchlist?

Penny_Stocks_to_Watch_OPKO_Health_Inc

Which Robinhood Penny Stocks Are You Watching Right Now?

Finding the best Robinhood penny stocks for your watchlist can be challenging. However, with the right research tools at your disposal, it can be much easier than previously imagined.

[Read More] Top Penny Stocks To Buy Now? 3 For Your Watchlist This Week

Considering that there are hundreds of penny stocks on Robinhood to choose from, making the choice will involve a thorough understanding of your own investing style. So, with all of this in mind, which Robinhood penny stocks are you watching right now?


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