Are You Watching These Penny Shares On Robinhood
Final week was an attention-grabbing one for penny shares and higher-priced shares as properly. Fears of inflation and uncertainty over the vitality trade captivated headlines. Friday gave a short little bit of respite from the promoting strain. Nevertheless, proper up till the final half hour of the Might 14th session, quantity ranges had been a few of the lowest in weeks. As soon as the closing bell rang, shares had regained a little bit of what that they had misplaced earlier within the week.
So what’s in retailer proper now? With one other busy week of earnings, we’ll seemingly get a more in-depth take a look at the state of “the patron.” Retail earnings will seemingly captivate headlines initially. Barring any unexpected financial glitches, the market may have loads of Q1 information to digest. What’s extra, there’s additionally going to be loads to debate after steerage, and company convention calls are concluded.
An necessary factor to recollect is that penny stocks usually beat to the tune of their very own music. Early final week, when inflationary fears roiled markets, we noticed loads of low-cost shares making huge strikes increased. Actually, for these of you who traded on Monday or Tuesday, you’ll seemingly keep in mind shares like Protagenic Therapeutics Inc. (NASDAQ: PTIX), Obalon Therapeutics Inc. (NASDAQ: OBLN), and even Ambev (NYSE: ABEV), which all surged increased. This has been a excessive level for merchants, particularly throughout risky intervals for the broader markets.
Penny Shares On Robinhood
Given the power on Friday, it will likely be necessary to notice the momentum early on. Will we see this bullishness proceed? Social sentiment has performed its position in shares lately. Whether or not we’re speaking about penny stocks on Reddit or the newest Tweet from Elon Musk, retail buying and selling motion has turn into closely influenced by social developments.
The final 12 months has seen huge progress within the variety of new merchants coming into the market following the pandemic. In the event you take a look at a few of the penny stock brokerage growth stats from final 12 months, you possibly can see the place most of those “noobs” have gone: Robinhood.
The applying’s simple person interface and total simplicity of the app have turn into an attraction. Regardless of numerous issues and technical points its customers have had, retail merchants have remained loyal due to the power Robinhood has introduced for accessing markets from seemingly wherever.
The draw back is that not all penny stocks might be traded on the app. With few exceptions, OTC penny stocks aren’t accessible by Robinhood and different apps like Webull. Citing elevated ranges of danger, the purposes enable entry to penny shares buying and selling on the Nasdaq and NYSE. So, on condition that there are thousands and thousands of merchants searching for low-cost shares so as to add to their record, listed here are a couple of corporations to observe in the course of the second half of Might.
Robinhood Penny Shares To Purchase [or avoid]
- Salarius Prescribed drugs Inc. (NASDAQ: SLRX)
- MindMed Inc. (NASDAQ: MNMD)
- Ideanomics Inc. (NASDAQ: IDEX)
Salarius Prescribed drugs Inc. (NASDAQ: SLRX)
One of many examples of penny shares going in opposition to the broader developments is Salarius Prescribed drugs. For the reason that begin of the 12 months, SLRX inventory has been an lively one to observe. It started in January buying and selling below $1 and finally rallied to highs of $3.50 following a couple of key milestones. The corporate develops therapies for several types of cancers.
Clearly, this area of interest of the biotech trade stays a hotbed for development. However, so far as the overal biotech house is worried available in the market, issues have been chilly. Check out the Nasdaq Biotech ETF (NASDAQ: IBB) or the S&P Biotech ETF (NYSE: XBI). Each started the 12 months robust however are actually detrimental for 2021. In distinction to this, shares of SLRX inventory are increased by greater than 40% year-to-date.
[Read More] How to Buy Penny Stocks In 2021
Final week completed robust for Salarius, which noticed a surge late within the Friday session and continued buying and selling after the closing bell. This was an extension of the development that started after the corporate reported its newest quarterly outcomes earlier within the week. One of many key highlights from these outcomes got here when David Arthur, President, and CEO of Salarius, mentioned that “Salarius is working from a place of power as we work to advance our scientific trials exploring seclidemstat as a possible therapy for Ewing sarcoma, choose FET-rearranged sarcomas, superior stable tumors, and hematologic cancers. By mid-year 2021, we anticipate as much as three complete lively scientific trials in as much as 5 affected person populations evaluating single-agent seclidemstat and as much as three mixture therapies.”
With 2021’s halfway level rapidly approaching, this could possibly be one thing to bear in mind.
MindMed Inc. (NASDAQ: MNMD)
One other development that has begun gaining steam is in using psychedelic therapies. Whereas it’s nonetheless considerably on the perimeter of the medical world, extra buyers have gotten some publicity to associated shares. Firms like Peter Thiel’s Compass Pathways (NASDAQ: CMPS) have introduced some legitimacy to the trade.
Whereas there aren’t many main-listed names in psychedelics, Compass rapidly took a number one position. You’ve additionally obtained different corporations like Seelos Therapeutics (NASDAQ: SEEL), which gained consideration this 12 months following new developments with its ketamine therapy candidate.
MindMed has turn into the newest identify to affix the main-listing ranks within the inventory market. The corporate has targeted on a multi-pronged method to psychedelic-assisted therapy, together with using know-how for a few of its processes. It’s additionally trying to construct upon its portfolio utilizing psychedelics for extra than simply cognitive ailments. Earlier this month, MindMed introduced the launch of “Undertaking Angie.” The corporate goals to advance the event of psychedelics, together with LSD, to deal with ache circumstances. MindMed is at present exploring two major scientific indications for the therapy of ache.
With the rising physique of merchants searching for new industries in 2021, magic mushroom shares have come into the highlight. Consequently, corporations like MindMed are gaining some consideration and could possibly be on the list of penny stocks to observe proper now.
Ideanomics Inc. (NASDAQ: IDEX)
This text has mentioned developments. Within the case of Ideanomics, the newest uptick in renewed curiosity in electrical automobiles has performed a job. The corporate had a giant first quarter of the 12 months after getting wrapped up within the EV hype. Nevertheless, like most electrical automobile shares in 2021, shares fell and have executed so for the previous few months. Its product portfolio contains every part from automobiles and e-tractors to electrical bikes and, now, hybrid automobiles.
Earlier this month, Ideanomics introduced the acquisition of US Hybrid. Based on the corporate, “The acquisition of US Hybrid brings to Ideanomics the appliance of US-built know-how, to be used in its personal automobiles, and considerably extends the corporate’s capabilities in zero-emission transportation. US Hybrid will proceed to service its present buyer base, and Ideanomics will help them in scaling their enterprise operations inside the Ideanomics Mobility enterprise division. US Hybrid operates from places in California, Connecticut, and Massachusetts.”
With the closing of this acquisition, momentum appears to have come into the market. On Friday afternoon, following the market shut, IDEX inventory shot to highs of $2.56. Contemplating it closed the common session at $2.46, this could possibly be one thing to observe at first of the week and see if the development continues.
Penny Shares To Purchase This Week
Whether or not you’re shopping for penny stocks on Robinhood, Webull, TD, or others, the purpose is all the time the identical: earn a living and repeat. It’s necessary to determine developments and decide how sustainable they’re. Moreover, listening to extra than simply company headlines will help too. I’m not saying to solely following chatter on social media however to make use of it to your benefit, if something in any respect. Keep in mind that these shares carry loads of dangers, so if you’re searching for penny stocks to buy this week, have a transparent technique outlined earlier than diving straight in.