3 Penny Stocks on Robinhood to Watch As August Ends
Robinhood is one of the most popular platforms to find penny stocks right now. But before we go any further, it’s worth discussing what penny stocks are. A penny stock is any stock trading under $5 per share.
And as a result, there are hundreds to choose from. But, not every penny stock will be a winner, and investors need to be able to tell the difference. When it comes to penny stocks on Robinhood, we also tend to see heightened volatility. This is due to the sheer number of traders that utilize Robinhood as a brokerage.
While Robinhood has been very popular for years now, its real notoriety has come in the past year and a half. This could be the result of Covid and more people having time on their hands to start investing. But, the fact remains that there are billions of dollars in capital that were not in the market only two years ago.
The next aspect to consider is that investors need to do all the research they can to support their watchlists. This means understanding the financials of a company, what makes its price move, and what factors could affect it in either the short or long term. This will help to ensure that your portfolio aligns with your investing goals. Considering all of this, let’s take a look at three penny stocks to watch for your end of August list.
3 Robinhood Penny Stocks to Watch As August Ends
9F Inc. (NASDAQ: JFU)
One of the bigger gainers of the day so far is 9F Inc., pushing up by as much as 15% during intraday trading. If you’re unfamiliar with 9F, it is an internet tech company focused on fintech and online wealth management. It works with high-net-worth individuals, primarily in China and certain Southeast Asian countries.
At the end of last year, 9F reported having more than 113 million registered users on its platform, which is no small feat. And while no news was announced today sparking its sizable rally, we did see a large amount of bullish sentiment from many China-based penny stocks.
In the past five days, shares of JFU stock have shot up by a solid 17.5% bringing its YTD gain to over 64%. It’s worth noting that JFU can be quite volatile. And when it comes to stocks based in China, investors should try to stay up to date with any domestic legislation changes.
However, it is clear that there is a sizable emphasis on tech penny stocks right now. And, it doesn’t look like this positivity is going anywhere anytime soon. So, if you’re looking for an interesting fintech penny stock to watch, JFU stock could be worth keeping an eye on.
CytoDyn Inc. (OTC: CYDY)
CytoDyn Inc. is a biotech company that is developing treatments for multiple therapeutic indications. The majority of its drugs are based on leronlimab, a novel humanized monoclonal antibody targeting the CCR5 receptor.
Its leronlimab product addresses unmet medical needs for patients with HIV, cancer, immunology, and COVID-19. Because of its relation to Covid, CYDY stock has seen heightened attention in the past few months. And as a result, many investors continuing to show interest in the company as cases continue rising.
On August 25th, CytoDyn released preliminary results from its Phase 1b/2 trials and compassionate use with leronlimab to treat breast cancer mTNBC patients. The company’s final mTNBC report indicated as much as a 980% increase in 12-month overall survival. It also indicated up to a 660% increase in 12-month modified progression-free survival. These numbers are substantial and show that this product works very well.
“We anticipate the demand for new therapeutic options with limited toxicity and enhanced convenience for the patient to grow exponentially over the next decade. We believe this is further evidence that leronlimab has a promising role in the future of oncology to help alleviate the burden of cancer on patients and their loved ones.”Scott Kelly, the Chief Medical Officer and Chairman of the Board at CytoDyn
CYDY stock has gone up by about 2.29% on the day of this announcement. In addition, the company’s volume is also much higher than its average on August 25th. Keeping this information in mind, will CYDY stock be on your penny stocks watchlist?
Castor Maritime Inc. (NASDAQ: CTRM)
Castor Maritime Inc. is an industrial penny stock that is going up in the market right now. This company’s primary goal is in the transport of dry bulk cargo by sea. This dry bulk cargo includes iron ore, coal, grains, steel, cement, scrap metals, and more. It currently operates three Panamax vessels that can carry about 76,122 deadweight tons. In the past six months, the demand for products and subsequent increased retail sales, have both been a major benefit to CTRM stock.
On August 11th, the company announced the deliveries of the M/W Magic Pluto and the M/V Magic Perseus. The M/V Magic Pluto is a 2013-built Panamax dry bulk carrier, and the M/V Magic Perseus is a 2013-built Kamsarmax dry bulk carrier.
In other recent news, Castor just reported its second-quarter results. The company’s revenue came in at $21.8 million for the quarter, compared to $2.6 million the year before. Its net income was $6.5 million compared to a net loss of $0.1 million in 2020.
“The first six months of 2021 was a transformational period for our Company, as we were able to raise $262.5 million of equity and $33.3 million of debt and grow our fleet from 6 vessels at the end of 2020 to 26 vessels on a fully delivered basis.”The CEO of Castor, Mr. Petros Panagiotidis
Considering these positive results, will CTRM make your list of penny stocks to watch?
Are Robinhood Penny Stocks Worth Buying?
Finding the best penny stocks on Robinhood all comes down to knowing where to look. With so many options to choose from, it can be difficult to pick the best ones for your list.
But, with careful research and a commitment to sticking with your trading strategy, investing in penny stocks can be a profitable endeavor. With all of this in mind, are Robinhood penny stocks worth buying or not?