Robinhood has become a go-to for new traders in the stock market today. The easily accessible platform requires little information to begin your trading journey. While it doesn’t have as many bells and whistles as other platforms like TDAmeritrade, Etrade, or even Webull, it offers a simplistic way to buy and sell stocks, options, and cryptocurrencies like Bitcoin and Ethereum.
If Robinhood Markets (NASDAQ: HOOD) is so retail-focused, where do they stand in cheap stocks? You won’t find OTC penny stocks on Robinhood. The platform restricts access due to higher risk. However, you can buy Shiba Inu, so it’s tough to say why OTC penny stocks might be higher risk than Shib.
Nevertheless, just because OTC penny stocks are restricted doesn’t mean all stocks under $5 are inaccessible. As long as a company is listed on the NASDAQ or NYSE, users can access stocks under $5 on Robinhood.
Stocks Under $5 To Watch On Robinhood
This brings us to today and a list of stocks under $5 Robinhood traders are paying closer attention to. Something to keep in mind that tends to coincide with cheap stocks is higher risk. Whether you consider these stocks under $5 as “penny stocks” or simply cheap Nasdaq & NYSE stocks, lower prices tend to lend themselves to higher volatility in the market.
- Selecta Biosciences (NASDAQ: SELB)
- Ginkgo Bioworks (NYSE: DNA)
- SaverOne 2014 (NASDAQ: SVRE)
- Bed Bath & Beyond (NASDAQ: BBBY)
Selecta Biosciences (NASDAQ: SELB)
For anyone who trades cheap stocks or has been looking for Reddit stocks to watch, Selecta is one of the long-time names on the watch list. But like many stocks this year, SELB has slipped from its prior highs and tested new 52-week lows.
This quarter, however, it has been a much different case for Selecta. Over the past few weeks, SELB stock has bounced back more than 100% as the company puts some of the previous capital raised to work. Selecta is in the middle of developing a treatment pipeline using its ImmTOR platform to treat autoimmune diseases and enhance gene therapies.
New partnerships and trial progress has helped push SELB stock higher and include an extension of its research license with Sarepta (NASDAQ: SRPT) for use in Duchenne Muscular Dystrophy and Limb-Girdle Muscular Dystrophies.
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What To Watch With SELB Stock
This week Selecta presents at the Guggenheim I&I Spotlight Series. Management will host one-on-one meetings and fireside chats discussing its therapy pipeline.
Ginkgo Bioworks (NYSE: DNA)
Another one of the Robinhood stocks under $5 to watch this week is Ginkgo Bioworks. Believe it or not, the company has a connection with the first companies on this list of stocks to watch. Earlier this year, Ginkgo and Selecta announced a collaboration to create gene therapy capsids. Ginkgo was tasked with designing and engineering them, while Selecta is responsible for all pre-clinical and clinical studies afterward.
Gingko specializes in cell reprogramming. Its platform has been utilized by or in collaboration with multiple companies. Novo Nordisk is one of the more recent to link up with Ginkgo. The two are working on creating novel expression hosts for pharmaceutical products. In response to the June update, Brian Vandahl, SVP of Global Research Technologies at Novo Nordisk, said, “Using synthetic biology and the reprogramming of expression system genomes, we have the potential to engineer biological systems that will expand the chemical space of biological medicines.”
What To Watch With DNA Stock
There haven’t been any significant headlines for the company so far this month. However, big money bets have helped bring some added excitement to DNA stock. Earlier in July, Viking Global reported a 9.7% stake in the company with over 115 million shares. Other notable names investing in DNA stock include Cathie Wood, most notable for her Ark Invest fund.
SaverOne 2014 (NASDAQ: SVRE)
A recent IPO joins this list of cheap Robinhood stocks. SaverOne recently bounced back from its post-IPO lows of $1.81. The company was one of the names in our article: Penny Stocks To Watch: Why GRAB, BHAT, SVRE & GOEV Stock Are Moving earlier this week. We discussed how the transportation safety solutions company was turning heads based on some of it more recent updates.
SaverOne has designed a technology to identify and monitor mobile phones in a driver’s vicinity and blocks the use of specific applications. This week the company expanded its leadership team, eyeing growth in the future. SaverOne announced a new Chief Marketing Officer, Israel Eybi. CEO Ori Gilboa explained, “We are confident that he will be instrumental in building our network of global partners for SaverOne, expanding our sales into European and US markets, as well as others globally, substantiating SaverOne as an innovative and significant factor in the global automotive safety arena.”
What To Watch With SVRE Stock
When the company went public, it registered just under 3 million units, which puts SVRE stock on the list of low float penny stocks to watch. With a more risk-on environment for stocks under $5, this has been one of the names to watch following news headlines and market momentum.
Bed Bath & Beyond (NASDAQ: BBBY)
One of the classic meme or Reddit stocks, Bed Bath & Beyond continued treading water in the stock market this week. Hovering between lows of $4.38 and highs just over $5, BBBY stock hs trading far off its 2021 highs. Needless to say, the previous risk/reward make-up of the stock has allowed it to remain a focus of retail traders whenever irregularly high volume comes into the picture.
The last few weeks have seen BBBY stock trading much higher daily average volumes than before. One of the catalysts helping (or hurting, depending on how you look at it) is the recent earnings performance and a CEO exit. Even with a sell-off that ensued shortly after the home good retailer reported, BBBY stock has seen a bit of new life on a daily basis.
In fact, last week shares exploded thanks to news that insiders were scooping up the stock. Interim CEO Sue Gove was of particular note when she reported the purchase of 50,000 shares of BBBY stock.
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What To Watch With BBBY Stock
Downtrodden earnings, a lack of a permanent CEO, and weak analyst ratings haven’t helped the meme stock. However, its place with retail traders could be the primary catalyst to pay attention to. Along with the likes of GameStop (NYSE: GME), AMC Entertainment (NYSE: AMC), and others, the “Ape movement” has placed BBBY stock on a short list of ones to watch.
Robinhood Stocks Under $5 To Watch
All stocks carry risk. Whether you’re talking about penny stocks or stocks over $50, there aren’t any guarantees of making money. However, those who take the time to research have a clear shot at finding opportunities to make money in the stock market. Today we took a look at a few cheap stocks on Robinhood trading on the NASDAQ and NYSE. Based on recent catalysts, are or will any of them be on your watch list before next week?
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