Penny Stocks, believe it or not, are defined as stocks trading below $5. But there are many stocks that trade well-below $1
Over the course of the year, some penny stocks have managed to generate excellent returns for investors. The millennial generation has found a home using Robinhood to buy penny stocks. The attraction comes as the platform allows users to sell and buy penny stocks without the larger fees other brokers charge.
However, in order to make money with penny stocks, an investor needs to do research diligently. It’s not just about finding random penny stocks on Robinhood and hitting the “buy” button. You need to be aware of the latest news and sector activities surrounding such stocks.
[Read More] 10 Penny Stocks To Buy For Under $3.50
Considering the fact that penny stocks can be highly volatile, there are risks. Just as quickly as stocks go up, they can also rapidly decline. So not doing research and not sticking to a trading strategy may get you lucky but will likely not be consistent. On that note, here is a look at three penny stocks you can buy for under $1 on Robinhood and any other trading platform you might be using right now.
Penny Stocks To Buy Under $1 #3 J. C. Penney (JCP)
The first penny stock on this list is the J C Penney Company Inc (JCP Stock Report). This has been a company that has been discussed in recent articles. JCP stock experienced a notable surge on Wednesday. The department store giant has been weighed down by its massive debt burden. This has seen the stock has tank over the course of the past few quarters.
In 2019, JCP stock performed poorly and experienced a considerable slump. Last week it emerged that the current Chief Executive Officer of the company Jill Soltau bought half a million shares in the company at $0.56. More insider trading activity (FORM 4s) has been recognized this week as well. This has helped trigger some positivity around the company. On Wednesday and Thursday, the stock rose to levels it hasn’t seen since the beginning of August.
Penny Stocks To Buy Under $1 #2 Chico’s (CHS)
The next penny stock to consider is that of Chico’s (CHS Stock Report). CHS stock jumped by as much as 21% on Wednesday on the back of the announcement of the company’s Q2 2019 results. Although revenues dropped year on year from $545 million to $508 million, investors appeared impressed at the fact that sales of the company’s Soma brand rose.
The sales in the Soma brand grew by 10.9%. That’s a considerable jump. There is currently a lot of optimism around the stock. But after seeing the activity to follow on Thursday, will it continue to be a penny stock to watch or avoid?
Penny Stocks To Buy Under $1 #1 Kitov Pharma (KTOV)
Last but not least, Kitov Pharma (KTOV Stock Report) is a biotech penny stock that has booked considerable gains this week. The latest move comes as KTOV stock was nearing new lows for the year. To the surprise of the market, Kitov’s latest news has sparked a rally.
The company announced that its subsidiary, TyrNovo will present new data next month at the American Associate for Cancer Research Pancreatic Cancer: Advances in Science and Clinical Care. Essentially, the company will be showing off data on its NT-19 to treat metastatic squamous cell carcinoma of head and neck cancer.
They’re also exploring indications for pancreatic cancer. Needless to say, the penny stock has been on the move ever since, reaching highs of $0.90 within the first half-hour of trading on Thursday.