Robinhood Stocks That Can Be Bought For Pennies
Whether you call them “penny stocks” or “cheap stocks,” there’s something exciting about some of the lowest-priced names in the stock market today. They come with plenty of risks, and brokers know this. Due to things like manipulation, which the OTC is known for, many brokers, like Robinhood, restrict access to companies that aren’t listed on a major exchange.
While this might cut off some of the cheapest stocks, like those trading at $0.0001, it doesn’t shut the faucet off on all low-priced stocks. You can find some that can be bought for pennies. In this article, we look at a list of stocks under $1 that released big news & are turning heads in the stock market this week.
Cheap Robinhood Stocks To Watch
Now, whether you trade stocks on Robinhood or another platform, the theme of this list is stocks listed on major exchanges. These exchanges include the NASDAQ and NYSE, so technically, these stocks can be traded using any broker. It just so happens that Robinhood, specifically (along with Webull in most cases), limits access to its users, especially regarding some of the cheapest stocks in the market.
Ontrak Inc. (OTRK)
Shares of Ontrak have been on the move since the beginning of the year, which news catalysts have helped greatly. The telehealthcare technology company updated an agreement with Optima Health to focus more on its commercial members who need care and treatment the most. The deal equates to an estimated 10%-15% jump in Ontrak’s outreach pool once it launches this month.
OTRK Stock News
This week continued the trend of new milestones being released. The company announced new data that showed a reduction in depression and anxiety symptoms for Ontrak’s Wholehealth+ Program members. Through its platform, Ontrak has been able to institute formal PHQ-9 and GAD-7 assessments to gain insights into mental health treatment progress and care.
“The inclusion of PHQ-9 and GAD-7 assessments in the Ontrak Wholehealth+ program is an important step in measuring mental health improvements for our members…Providing enrollees with access to and interpretation of their assessment scores over time helps members better identify targeted mental health concerns, leading to greater involvement in their treatment outcomes,” explained Chief Medical Officer Judith Feld, MD, MPH, MMM.
Volta Inc. (VLTA)
If Volta seems familiar, you probably read some recent articles on PennyStocks.com. It was a company discussed this week in the article “5 Penny Stocks Under $1 With High Short Interest This Week,” focused on short interest. The company’s PredictEV infrastructure planning tool uses behavioral sciences to help plan EV infrastructure efficiently.
It also manages a network of charging stations that also double as digital advertising via their large-format screens. Besides bullish sentiment in the EV space and high speculation stemming from the latest surge in short squeezes, news this week has prompted a substantial jump in VLTA stock.
VLTA Stock News
This week Volta announced big acquisition news. The company and Shell USA signed a merger deal in which Shell buys VLTA for roughly $169 million. The company will bring Volta’s dual charging and media network to Shell’s brand. The transaction is expected to close in the first half of 2023.
Party City Holdco (PRTY)
Another one of the cheap Robinhood stocks that might seem familiar is Party City Holdco, which was mentioned in the same article as VLTA stock. Party City may need no introduction as it has become a well-known name for party supplies, costumes, and related products. The company has fallen on hard times thanks to a shakey retail market; however, daily action continues to keep interest of traders.
Restructuring discussions have been ongoing with its advisers as reports surface that the company may have been planning for bankruptcy protection “within weeks,” according to Wall Street Journal sources. Regardless, it hasn’t stopped traders from taking a closer look at other factors of the stock. That upbeat sentiment remains in place even after this week’s headlines.
PRTY Stock News
Party City announced an agreement with its noteholders to help with restructuring processes. The company also said it filed for voluntary Chapter 11 relief to execute pre-negotiated restructuring with its bondholders. Party City’s noteholders have committed $150 million in debtor-in-possession financing, and restructuring is expected to be completed next quarter.
UPDATED: shortly after the stock market opened, the NYSE suspended trading in PRTY stock. What’s happening for current holders? According to Dow Jones Newswires, delisting proceedings have commenced. As this is a developing story, we will give updates, and new information is released.
Vistagen Therapeutics Inc. (VTGN)
Biotech penny stocks have seen no shortage of interest in the stock market in 2023. Vistagen may be one of the cheapest on this list of penny stocks to have attempted to reclaim some of what it lost over the last year. The company specializes in developing treatments for central nervous system disorders, depression, and anxiety.
VistaGen recently expanded its patent protection for its PH94B platform via national applications at the US Patent and Trademark Office. This aims to further protect the candidate in treating adjustment disorder. This is the same approach VistaGen took to protect its other central nervous system disorders with anxiety. This month, PH94BB remains in focus after Vistagen’s latest update.
VTGN Stock News
Vistagen’s latest update includes the completion of its last patient and last visit in its Phase 2 clinical trial of PH94B. Topline results are now expected by the end of this quarter.
Commenting on the milestone, CEO Shawn Singh said, “Along with many other mental health challenges, the prevalence of adjustment disorder is alarming due to increasing levels of health, safety, economic and social stressors that adversely impact mental health and wellbeing. Vistagen is dedicated to developing treatments to address the escalating mental health crisis. We look forward to completing data analysis for this important study over the coming months.”
Cybin Inc. (CYBN)
Mushroom stocks are now a thing, and it doesn’t seem like they’re going anywhere anytime soon. Despite the breakdown in stocks with exposure to that market niche, companies remain focused on progressing their treatment pipelines. Cybin is one of these companies, and recent headlines in 2023 have helped propel shares significantly higher.
Earlier this month, the company gained attention. This came after news that Missouri lawmakers revised a therapeutic psilocybin legalization bill for the 2023 session. The headlines also triggered a move across the psychedelic stock industry. Cybin also outlined upcoming priorities and milestones for its clinical development programs in a separate update. One of these priorities was advancing its CYB004 platform for anxiety disorders. There’s an update on the program, which is expected by the end of next month. In addition to near-term potential catalysts, this week’s Cybin headlines have also played a part in the latest uptrend for the stock.
CYBN Stock News
Cybin released highlights from a feasibility study by Kernel, which evaluated Kernel’s Flow wearable technology. It aimed to measure the psychedelic effects of ketamine on cerebral cortex hemodynamics. Commenting on the highlights, CEO Doug Drysdale explained, “The possibility of using this technology to develop a predictive tool to aid in identifying appropriate candidates for psychedelic-based therapy is also quite exciting, as is the convenience of a portable device, which could lend itself to more widespread use in clinical settings.”