Over the years, penny stocks have proven to be one of the most exciting modes of investment for thousands of investors. The simple reason is the fact that an investor can buy these cheap stocks in bulk. They can then make a handsome profit if the stock moves even by a small margin. As one of the popular outlets for penny stocks, Robinhood has become the go-to broker for many millennial traders
Because of its no-fee platform, penny stocks on Robinhood are even more appealing. Though other platforms like Schwab and TDAmeritrade are following the trend, Robinhood has built a stronger foothold. For this reason, penny stock traders typically head to that platform firs.
With that said, it’s also important to note that it’s not easy to pick the right penny stocks to buy. An investor needs to conduct diligent research in order to make the right picks. On that note, here is a look at three penny stocks to watch on Friday.
Robinhood Penny Stocks To Watch #1: Hepion Pharmaceuticals (HEPA)
The first on this list of penny stocks is biotech company Hepion Pharmaceuticals Inc (HEPA Stock Report). On Wednesday it emerged that the company’s paper on its liver treatment product, CRV431 was published in a highly influential and peer-reviewed journal. The Journal of Pharmacology and Experimental Therapeutics featured the paper. It noted that CRV431 could treat chronic liver diseases.
This was a significant development and, no surprise, investors soon piled on. Since the announcement, Hepion stock broke out big. From Wednesday’s close to Thursday’s high, HEPA jumped over 120%.
However, it’s important to note that shares fell back aggressively to $3.13 before the open on Friday. Despite this case, HEPA shares were trending up after the open. Can they continue this trend for the rest of the day?
Robinhood Penny Stocks To Watch #2: Atlas Financial Holdings (AFH)
The other penny stock that enjoyed a significant rally was Atlas Financial Holdings Inc (AFH Stock Report). On Thursday, the company announced an opportunity to appeal the delisting notice served by NASDAQ.
It is a significant development for the company since it means that it’s going to continue listing on NASDAQ for the time being. Once the news broke, the stock rallied impressively. It has gained as much as 45%. Atlas Financial stock’s definitely one to keep an eye on over the next few days.
Read More | 5 Penny Stocks To Buy Or Sell Next Week?
Similar to Hepion, AFH shares pulled back on Friday. However, it’s important to note that the financial sector has realized a wider bullish move. Friday saw bigger firms like Bank of America, JP Morgan, and Goldman Sachs Group pushing higher. Could this be a good sign or smaller stocks in the sector?
Robinhood Penny Stocks To Watch #3 Limelight Networks (LLNW)
Last but not least, Limelight Networks, Inc. (LLNW Stock Report) went on a tear. This came after the company published its third-quarter results. After these were published, the cloud service provider’s stock rose by as much as 13%.
This was a continuation of a larger bull trend for the stock. Since October 3’s low of $2.78, LLNW stock has rebounded by as much as 44%.
These favorable results also saw shares hold their levels above $3.75 on Friday. Revenues rose by 4% year on year but the earning per share after adjustments dropped by 80%.
However, the company did manage to recover from the depths of its performance in the second quarter. It remains to be seen how the stock performs over the next few weeks.
