Bitcoin price – Can You Purchase Penny Stocks On Robinhood? 5 To Watch This Week
5 Penny Stocks On Robinhood To Watch This Week
Are you on the lookout for penny stocks to purchase? You’re not alone and the previous couple of weeks have been huge for small cap stocks. When the market goes right into a funk because it did round election time, it may be exhausting to seek out your rhythm. That’s primarily because of the truth that a substantial variety of merchants will sit on the sidelines to keep away from volatility. I feel that’s what we noticed just a few weeks again.
However heading into this subsequent week, it seems to be like buying and selling volumes are coming again and stocks are on the transfer. This yr has seen an enormous spike in new buying and selling accounts. We did a examine on Penny Stocks Brokerage Development Statistics For 2020 and located a giant leap in new buying and selling accounts. One of many corporations to expertise the most important development was Robinhood. Although it’s a personal firm, analysts estimate that through the first 9 months of the yr, some 5 million new accounts had been opened on the app.
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Now, I do know what a lot of you’ll say, “Robinhood might not be the best brokerage for traders.” However all opinions apart, the actual fact stays, apart from the TDAmeritrade/Charles Schwab merger figures, Robinhood is on the high of the heap on the subject of consumer development. So clearly, with a resurgence in buying and selling momentum, riskier asset lessons develop into a spotlight. Enter penny stocks and million seeking to learn to earn money with them.
Robinhood Penny Stocks To Watch
- 22nd Century Group Inc. (XXII Stock Report)
- Coty Inc. (COTY Stock Report)
- Chembio Diagnostics Inc. (CEMI Stock Report)
- Ayro Inc. (AYRO Stock Report)
- Marathon Patent Group Inc. (MARA Stock Report)
The entire new merchants on the market asking, “Can you purchase penny stocks on Robinhood?” the reply is sure, however there’s a catch. Whereas brokers like TD/Schwab, Etrade, Interactive Brokers, and others permit you entry to all penny stocks, Robinhood and Webull, for that matter, don’t. With just a few exceptions, these mobile-friendly brokers solely permit entry to NYSE and NASDAQ listed penny stocks.
This may appear to be a “big deal” however, for essentially the most half, the general variety of penny stocks on Robinhood and Webull is within the hundreds. So your decisions are fairly open. With that in thoughts, right here’s a listing of penny stocks in your record this week. Will they be on the purchase or sell-side proper now?
Robinhood Penny Stocks To Purchase [or sell] #1: 22nd Century Group Inc.
22nd Century Group Inc. has been one of many penny stocks to look at for the previous couple of months. Ever since hitting a 52-week low of $0.55 in September, XXII stock has been on the rally-path. If you speak about vice stocks to look at, 22nd Century is normally a part of the dialog that includes penny stocks. The corporate has been engaged on the event of a low nicotine tobacco product. In truth, one of many foremost initiatives for the corporate is acquiring FDA authorization for its VLN modified threat tobacco.
Final month 22nd Century was granted a brand new U.S. patent associated to the discount of nicotine within the tobacco plant. This gave the corporate a path ahead in bringing very low nicotine traits into practically any kind of tobacco. This month the corporate reported earnings, beating analyst estimates on each EPS and gross sales. 22nd Century posted a Three cent loss per share which got here in higher than the Four cent loss per share estimate. Moreover, its $7.Three million in gross sales was 32% larger than what Wall Street anticipated.
One thing else to notice is that 22nd Century continues evolving its hashish arm as effectively. In its earnings replace, the corporate expressed the objective to type operational partnerships that may allow it to supply complete business breeding, cultivation, and extract purification providers using its proprietary hemp/hashish crops in improvement. So we’ll need to see how that a part of 22nd Century’s plan unfolds shifting ahead.
Robinhood Penny Stocks To Purchase [or sell] #2: Coty Inc.
One other one of many penny stocks to look at for the previous couple of weeks has been Coty Inc. We’ve mentioned the corporate fairly incessantly these days amid the latest surge in client stocks. Coty is a luxurious model builder. The corporate sells fragrances, cosmetics, and pores and skin/physique care merchandise. Coty licenses manufacturers like Calvin Klein, Hugo Boss, Gucci, Davidoff, CoverGirl, Rimmel, and Sally Hansen. Mst notably, Coty has licensed the rights to Kylie. With the namesake being Kylie Jenner, it’s changing into one of many fastest-growing and most-engaged magnificence manufacturers on social media.
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This has helped lead some development for the corporate and lately translated into robust, fiscal Q1, 2021 outcomes. The corporate introduced internet income of $1.69 billion, which beat estimates of $1.08 billion. Moreover, earnings per share got here in at 11 cents. In comparison with the 5 cent loss-per-share, these blew out Wall Street’s expectations for the quarter. Sue Nabi, CEO of Coty said that “our first-quarter results are a testament that a stronger, more focused and more flexible Coty is emerging in the middle of the Covid-19 pandemic and better prepared to face any future market disruptions.”
What’s extra is that merchants might need one thing else to trace in November. This pertains to the corporate’s proposed sale of its skilled retail hair enterprise. This would come with Wella, Clairol, OPI and ghd manufacturers. The anticipated cut-off date is November 30th at a price of $2.5 billion. Additionally be mindful, that this can be a sale of 60% of the enterprise and Coty will proceed retaining 40%.
Robinhood Penny Stocks To Purchase [or sell] #3: Chembio Diagnostics Inc.
We’ve mentioned Chembio Diagnostics Inc. just a few instances over the past a number of months. In truth, the final time we checked the corporate out, Chembio introduced that the FDA authorized its Premarket Approval (PMA) software for the DPP HIV-Syphilis System. Nonetheless, the latest focus of the corporate has been on coronavirus testing. Clearly, this stays a giant focal point for the market amid file ranges of COVID circumstances lately.
In October, Chembio submitted an Emergency Use Authorization software for its DPP SARS-CoV-2 Antigen check system. It has been designed to detect SARS-CoV-2 antigens in solely 20 minutes. Final week, extra information was launched by Chembio after the Friday closing bell, which may very well be of curiosity come Monday morning. The corporate introduced that its subsidiary Chembio Diagnostics Brazil Ltda. acquired regulatory approval from Agência Nacional de Vigilância Sanitária to market the DPP SARS-CoV-2 Antigen check system in Brazil.
Javan Esfandiari, Chembio’s Vice President and Chief Science & Know-how Officer stated, “Enabling patients and providers to know this information at the point-of-care in 20 minutes can help further reduce the risk of virus transmission and improve patient outcomes.”
With this information, we’ll need to see how the market reacts come Monday. Nonetheless, what we are able to see already is that aftermarket buying and selling noticed a robust spike. Will it proceed this week?
Robinhood Penny Stocks To Purchase [or sell] #4: Ayro Inc.
Ayro Inc. is not any stranger to our record of penny stocks on Robinhood to look at. It’s been one of many sizzling penny stocks to look at in November. Moreover, for the higher a part of the final 2 quarters, AYRO stock has skilled a substantial degree of consideration and momentum. The corporate’s a part of the booming EV sector. With electrical automobile stocks surging through the second half of this yr, merchants are on the lookout for low cost stocks to purchase. The primary cause I feel is that firms like Nio Inc. (NIO Stock Report) and even Arcimoto Companions (FUV Stock Report) have climbed a lot however had been penny stocks at one level this yr.
With the likes of different firms comparable to Electrameccanica Automobiles Corp. Ltd. (SOLO Stock Report) changing into the latest “penny stock graduate”, AYRO is one among just a few standard EV penny stocks to look at, at the moment. This week may be one other energetic one for the sector as Nio is about to report earnings on Tuesday.
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Whereas merchants ought to pay attention to the sympathy momentum fueling AYRO’s newest rally, there are different basic issues to remember. Particularly, what the corporate has happening with the latest partnership deal between AYRO and Karma Automotive. The partnership features a plan to supply greater than 20,000 light-duty vans over the subsequent three years. It’s additionally reportedly worth as a lot as $300 million. Those that’ve acquired this on their record of penny stocks to look at may wish to take into account that EV stock might expertise some larger volatility this week.
Robinhood Penny Stocks To Purchase [or sell] #5: Marathon Patent Group Inc.
Marathon Patent Group Inc. falls into the bitcoin and blockchain stocks class. The corporate particularly focuses on mining cryptocurrencies and has been one of many standard penny stocks to look at lately. With different firms like Grayscale Bitcoin Belief (GBTC Stock Report) reaching file ranges in 2020, the plain case could be made for a bullish stance on bitcoin proper now. Rightfully in order the cryptocurrency has reached a few of its highest ranges since 2018.
Current earnings outcomes from Marathon didn’t paint the brightest image of EPS development from the final quarter. Nonetheless, the longer term prospects of the corporate, primarily based on administration’s commentary may very well be brilliant primarily based on latest gross sales figures.
Merrick Okamoto, Chief Govt Officer, said, “With only 2,060 miners in operation in September when Bitcoin was trading at $10,000, the company generated $650,000 in Bitcoin revenue, our largest quarterly Bitcoin revenue in history. By the end of the 2nd quarter in 2021, we will have 23,560 miners deployed which equates to a greater than 1100% increase in mining capacity. At current Bitcoin prices, our deployment of new miners has the potential to produce more than an 11 fold increase in our monthly revenue as compared to our September 2020 revenue production.”
With extra uncertainty on the way forward for stimulus towards the backdrop of low rates of interest, will this be one other huge week for bitcoin and blockchain stocks?
Bitcoin price – Can You Purchase Penny Stocks On Robinhood? 5 To Watch This Week
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