7 Cheap Penny Stocks To Buy On Robinhood For Under $1 Right Now | News
Are These Cheap Penny Stocks To Buy Or Avoid?
Making money with penny stocks is something that has influenced millions of traders around the world. Thanks to big breakouts in stocks like AMC, GME, and, most recently, CEI, traders are getting a taste of just what penny stocks are capable of. The important thing to understand is that when you’re talking about cheap stocks like these, they don’t need to jump hundreds of dollars to offer massive returns.
Sure, were the epic rallies of GME and AMC stock impressive? Of course, and whenever stocks run from $4 to over $400 within a matter of months, people notice. That’s where stocks like GME have completely changed the day trading landscape.
But then you can also look at companies like Camber Energy (NYSE:CEI). Shares of CEI stock were trading at just 33 cents a few weeks ago. This week it has reached highs of $1.80. Sure, it was a move of only $1.47 (not even enough to buy a coffee). However, the percentage change was nearly 450%. Thanks to this, retail traders are fixating on a new trend in the stock market today.
This new trend involves penny stocks that can be bought for under $1. Some may qualify these as “true” penny stocks because they’re trading for pennies. Whatever you want to define them as is up to you. Today, we’re looking at 3 more penny stocks to add to the list we started here: 4 Cheap Penny Stocks To Buy On Robinhood For Under $1 Right Now.
Robinhood Penny Stocks To Buy For Under $1
What’s so “special” about “Robinhood penny stocks” right now? In reality, these are simply shares of companies listed on the Nasdaq and NYSE. The idea came about when mobile-first platforms like Robinhood and Webull restricted access to OTC penny stocks (with few exceptions). Furthermore, the instance of finding stocks under $1 on these platforms is unique.
Both Nasdaq and NYSE require companies to maintain minimum bid prices of $1. Trading below that threshold for too long runs the risk of getting delisted. This is why stocks fitting this interesting mold remain some of the more heavily sought after right now; CEI was one of them. Here are 3 more that have started gaining attention right now.
Penny Stocks To Buy [or avoid] 7. Sesen Bio Inc. (NASDAQ:SESN)
Sesen Bio was one of the darlings of the small-cap space for months. Since the beginning of 2021, SESN stock had managed to climb consistently higher from under $2 to over $6 at one point. The anticipation leading up to August’s FDA decision date was the core focus for traders. This is when the company’s Vicineum Biologics License Application for the drug in treating bladder cancer would have its day in the sun, or so some thought. Last month the FDA determined that it couldn’t approve the Applications its present form providing recommendations specific to additional clinical data. This ultimately triggered a mass exit in the stock, with SESN dropping below $1 for the first time since 2020.
Despite this being the case, in the short term, the company remains focused on the next steps with the FDA needed for this application to be approved. In the meantime, Sesen continues advancing other pipeline treatments.
Read more: 4 Penny Stocks To Buy According To Analysts & price Targets Up To 507%
This week an 8K was filed showing an update related to a research agreement entered into back in 2017. Specifically, this was a Cooperative Research and Development Agreement with the National Cancer Institute for Vicineum combined with AstraZeneca’s (NASDAQ:(AZN)) durvalumab for treating bladder cancer. Preliminary data was released from an interim analysis of 12 patients. The combo was well-tolerated, with no new safety signals seen. While this was seen as a smaller win, SESN stock continues trading below $1 as the market awaits further guidance from the FDA for
Vicineum and the status of this BLA.
6. Evolve Transition (NYSE:SNMP)
Another one of the penny stocks on Robinhood under $1 right now is Evolve Transition. The company specializes in transitional infrastructure important to the shift to lower-carbon energy sources. Evolve has been going through the final steps of solidifying a joint venture with Nuvve Holdings Corp. (NASDAQ: NVVE) and Stonepeak Partners over the last few months. This join-venture, Levo Mobility, will use Nuvve’s V2G (vehicle-to-grid) technology, money from Stonepeak, and Evolve to speed up the development of electric fleets.
This coincides with Nuvve’s zero-emission school buses through V2G hubs and a newly evolving space considered Transportation-as-a-Service. Stonepeak and Evolve plan to deploy up to an aggregate $750 million capital commitment to Levo. This month the Levo JV continued to move forward with the formal completion of Levo Mobility LLC.
Considering the jump in attention on renewable, electric vehicles, and the like, the Levo deal could be an important one to follow. A lot may hinge on the success and deployment speed of Nuvve’s V2G hubs. However, now things have been finalized, the market will look at how the companies roll out the next growth phase for this new JV.
5. Isoray Inc. (NYSE:ISR)
The last few months have been tougher ones for Isoray in the stock market. However, since the final weeks of August, ISR stock seems to have turned things around for now. Shares have bounced back as much as 29% during that time.
Read more: Are These Penny Stocks On Your Watchlist? Here’s Why They Should Be
The company specializes in seed brachytherapy. Isoray’s subsidiary, Isoray Medical, produces Cesium-131 brachytherapy seeds. This treatment platform, also known as Cesium Blu, is designed for treating cancer. Earlier this year, ISR stock rallied following news that it received FDA 510(k) clearance for the use of C4 Imaging’s Sirius® positive-signal MRI Markers with Isoray’s Cesium-131.
While there haven’t been many major headlines from the company, there are a few things to point to regarding ISR stock. First, the company’s upcoming earnings for the fiscal fourth quarter and year-end of 2021. Isoray reports these results on September 21st after the close. The last quarterly report showed that the company managed to beat sales estimates, with earnings per share coming in line with analysts.
So, if ISR stock is on your list, we’ll have to see how the market reacts to this next round of financial data next week. In addition to that, analysts at Northland Capital picked up coverage on the company this week. The firm gave an Outperform rating along with a $1.25 price target.
Should You Buy Cheap Penny Stocks On Robinhood?
This is a good question to ask yourself, especially if you’re using a platform like Robinhood or Webull. Since they are mobile brokerages, they can lack the speed necessary to execute trades when things are quickly moving. When it comes to cheap stocks under $1, every penny counts. Aside from that aspect, many of these companies are trading at these low levels for a reason, and it usually doesn’t have to do with them being “the next Apple.”
However, for those who still look to ride the wave of momentum or find early opportunities to take chances on stocks like CEI recently, make sure you’ve got a strategy in mind first. To read the rest of this list of penny stocks, check out: 4 Cheap Penny Stocks To Buy On Robinhood For Under $1 Right Now.