Are These Under $2 Penny Stocks Worth Buying on Robinhood?
Finding penny stocks to buy on Robinhood is one of the most popular choices for small-caps investors right now. And with hundreds to choose from, it can seem like a daunting task to find just a handful of penny stocks for your watchlist.
However, with a thorough understanding of the current market conditions, and an even more thorough understanding of how to trade penny stocks, it can be much easier than previously imagined.
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Right now, the largest impacting factor on the stock market is Covid. And with the Delta variant still in play, investors are looking toward potentially stable penny stocks to buy. However, the Delta variant has also resulted in large momentum that investors can take advantage of.
So, if all of this is considered, investors can have an easier time making a strategy that fits the current state of the market. With all of that in mind, let’s take a look at four penny stocks to watch that are under $2 right now.
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4 Penny Stocks Under $2 to Watch on Robinhood in September
- Salarius Pharmaceuticals Inc. (NASDAQ: SLRX)
- Progenity Inc. (NASDAQ: PROG)
- Document Security Systems Inc. (NYSE: DSS)
- Phunware Inc. (NASDAQ: PHUN)
Salarius Pharmaceuticals Inc. (NASDAQ: SLRX)
In the past five days, shares of Salarius Pharmaceuticals Inc. have climbed by around 10%. And, in the past month, that number jumps to over 20%. For some context, SLRX is a biotech penny stock that has seen heightened popularity in the past few months. This company develops products for cancer treatment. Currently, Salarius’s lead candidate is Seclidemstat also known as SP-2577 which is in Phase 1 / 2 clinical trial to treat tumors and different types of cancer.
On August 17th, the company presented at the Diamond Equity Research Emerging Growth Invitational Conference. The CEO of the company, David Arthur, provided an overview of the company’s business and its recent corporate and clinical achievements. This includes milestones in its clinical achievements.
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Updates like these are always exciting and important for investors to consider. They allow for unique insight into what a company is doing, and what it could do in the near future. So, with higher than average volume with SLRX stock right now and an overall emphasis on biotech, Salarius remains an interesting choice. Keeping this in mind, will you add SLRX stock to your penny stocks watchlist this month?
Progenity Inc. (NASDAQ: PROG)
Progenity Inc. is another biotech penny stock that has seen heightened investor interest in the past week. Over the last five days, shares of PROG stock have climbed by a more than respectable 32% or so. Despite being down substantially for the year, some investors believe that PROG’s luck could be turning around.
If you’re not familiar, Progenity is developing, providing, and commercializing molecular testing products. It offers Innatal which is a noninvasive prenatal screening test given to women in early pregnancy. And, with heightened rates of pregnancy during the pandemic, PROG could see an increased demand for its products.
In the near future, Progenity will be participating in two upcoming virtual investor conferences. The company will be releasing a pre-recorded presentation at the H.C. Wainwright 23rd Annual Global Investment Conference on September 13th. The company will also be presenting at the Baird’s 2021 Global Healthcare Conference on September 15th. Similar to SLRX’s recent announcement, this event should be on your calendar if you’re interested in PROG stock.
Given that the upcoming presentations are the only recent catalysts for PROG, it’s difficult to deduce why shares increased so much in the past week. However, it could be due to the overall hype right now in the biotech industry. And with Covid cases still raging as a result of the Delta variant, many investors are turning toward biotech penny stocks to make potential profits. So, whether this makes PROG stock worth adding to your list of penny stocks to watch, is up to you.
Document Security Systems Inc. (NYSE: DSS)
Although cryptocurrencies are down today following recent news, many believe in its long-term future. And as a result, many traders have invested heavily in either crypto or penny stocks that work in the cryptocurrency/blockchain industry. And, Document Security Systems is a perfect example of a non-pure play crypto stock. DSS specializes in cyber-protection technology, blockchain securities, marketing, consumer packaging, healthcare, renewable energy, securitized digital assets, and real estate.
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Because of its broad-based business model, DSS has exposure to crypto as well as several other burgeoning markets. One of its subsidiaries, Impact BioMedical Inc. recently announced the first synthesis of a Quantum-based compound. This is an adjuvant that allows the body’s immune response to be enhanced in fighting foreign materials.
“We’re very proud of this accomplishment. We’ve learned that in general, ‘bionics’ are creating something mechanical that is inspired by nature. In this case, we created biological molecules that are inspired by mechanical aspects such as quantum physics. That’s why we use the term ‘bionics.”
Daryl Thompson, the Director of Scientific Initiatives at Global Research and Discovery Group
This is big news for the company and Document Security Systems as well. Considering the need for new medicines as a result of Covid and the emphasis on biotech, DSS stock could be worth giving a first or second look.
Phunware Inc. (NASDAQ: PHUN)
Another penny stock with big ties to cryptocurrency is Phunware Inc. We’ve been covering PHUN stock for quite some time, as it is constantly trending among investors. After hitting a high of over $3 in February, shares quickly corrected, falling by around a third up until last month. In August, we began to see a bullish turnaround for PHUN stock, bringing it back up to over $1.
For some context, Phunware is a tech penny stock working in the multiscreen-as-a-service or MaaS industry. With this, it produces software that allows companies to monetize, engage, and manage mobile applications. In addition, it provides software development kits, location-based services, and more. And, it also offers PhunCoin and PhunToken, which are where cryptocurrency comes in. The company states that roughly one billion active devices touch its platform every month, which is quite a large feat.
Recently, Phunware announced that it would be presenting at the 10th Annual Gateway Conference on September 8th. This conference will be held virtually and will take place via one on one meetings.
In addition to this, the company stated that it has announced the appointment of two new board members that will help to grow its long-term strategy. One of whom is a former United States Congressman that spent time in the IoT, and digital commerce realm. So, with all of this exciting progress in the works, is PHUN stock worth watching?
Which Robinhood Penny Stocks Are You Watching in September?
If you’re looking for penny stocks to buy on Robinhood, there are hundreds of choices. But, knowing where to look and which ones to pick are where the tough part comes in.
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So, have a complete understanding of what’s going on in the market, and make sure that you know what your risk profile is. Considering all of this, which Robinhood penny stocks are you watching in September?
