Robinhood Penny Shares To Purchase For Underneath $4, Are They Value The Danger?
On this article about penny shares, we’re going to try a handful of names buying and selling beneath $2 proper now. However as you’ll be able to see from the title, they’re not simply any low cost shares. They’re penny stocks on Robinhood. The platform has turn out to be one of the standard used amongst retail merchants. Regardless of the various technology-based shortcomings of the app, merchants proceed utilizing it for its quick access to public markets.
Why is Robinhood so standard? It was one of many first to supply fee-free buying and selling to retail traders. Whereas loads of different brokerages have adopted this low or no-fee method, the lots of retail merchants have spoken. The short technique of putting purchase and promote orders with minimal technical “clunkiness” has turn out to be an enchantment for brand new merchants. Moreover, the app has now prolonged entry to Pre-IPO alternatives.
The primary to launch on Robinhood was the Figs Inc (NYSE: FIGS) IPO. The app provided choose accounts the chance to purchase shares of FIGS inventory on the predetermined IPO worth of $22. Contemplating that the NYSE itemizing began buying and selling round $28, it appeared to have been a profitable first-go for these fortunate sufficient to buy shares.
Penny Shares On Robinhood
Earlier than you begin searching for penny shares on Robinhood, there are some issues to grasp. First, it’s a much less superior utility on the subject of technical evaluation. There are charts however only a few instruments to make use of in comparison with different platforms. You’ve additionally bought to grasp that not all penny stocks are accessible on Robinhood. With just a few exceptions, the platform limits entry to NYSE and Nasdaq-listed shares solely.
Meaning the hyped-up sub-penny inventory you examine on a social media discussion board isn’t prone to be accessible when you’re utilizing Robinhood. For sure, there are nonetheless loads of different penny stocks to buy. Right now’s article can have a more in-depth take a look at 4 that may be purchased for beneath $2 proper now.
Robinhood Penny Shares To Purchase For Underneath $4: Uranium Vitality Corp (NYSE: UEC)
A latest pattern we’ve seen emerge facilities round uranium stocks. Due to all of this deal with infrastructure and clear vitality, nuclear energy has gotten recharged. With cash to assist the event of superior nuclear vitality, it is sensible that traders can be searching for some publicity. Uranium Vitality Corp has been one of many beneficiaries of the upbeat market sentiment.
[Read More] Biotech Penny Stocks To Watch For June 2021
Since election day, the uranium inventory has climbed from beneath $1 to a excessive of $3.40 in the course of the June 4th after-hours session. Whereas buying and selling has been comparatively range-bound for the previous few weeks, UEC inventory, total, has maintained its uptrend alongside its 50-day transferring common. The truth is, every time it has examined this technical degree, shares have managed to bounce and make increased lows. In gentle of the present dialogue round President Biden’s infrastructure plan, issues have began gaining steam just lately.
Towards the tip of Could, Uranium Vitality introduced that it raised its uranium holdings. The corporate acquired an extra 200,000 kilos of U.S. warehoused uranium. UEC’s bodily uranium initiative is totally funded with money readily available and now consists of 2.305 million kilos of U.S. warehoused uranium. That is at a volume-weighted common worth of $30 per pound with various supply dates via June 2023. The corporate additionally acquired an extra 1 million shares of Uranium Royalty Corp (NASDAQ: UROY) to take care of current strategic possession of Uranium Royalty.
In gentle of the most recent infrastructure hype, there may very well be one thing to observe for on the subject of uranium shares this week.
Evofem Biosciences Inc. (NASDAQ: EVFM)
Merchants have had a love/hate relationship with Evofem Biosciences over the previous few months. All the things from insider promoting to fairness choices has despatched share costs decrease. Nonetheless, final week, issues appear to have perked up a bit, and also you seemingly gained’t discover a information catalyst to pin it to. If you perform a little bit of sunshine digging into the corporate’s filings, you’ll discover just a few issues.
First, you’ll see Evofem printed a brand new investor deck by way of 8-Ok. Whereas this isn’t a significant groundbreaking occasion, it’s one thing to think about in gentle of its newest presentation on the Jefferies Healthcare Convention. The corporate gave an outline final Friday beginning at 10:30 AM EST. There have been just a few intermittent spikes of momentum all through the day, however nothing as huge because the after-market session had in retailer.
Whereas EVFM inventory closed the day at $0.8654, post-market buying and selling noticed the penny inventory buying and selling a lot increased. At one level, shares reached highs of $0.9863. By the tip of the session, the biotech penny inventory was sitting at $0.94. What was a catalyst? In a Schedule 13, G Morgan Stanley reported a 5.1% stake within the firm. With this institutional consideration changing into a spotlight for retail merchants, will probably be attention-grabbing to see how EVFM inventory begins the week on Monday morning.
Trying additional out, the corporate has been elevating cash to broaden on its commercialization technique. This consists of full commercialization actions associated to Phexxi®, the corporate’s lead feminine contraceptive product. Evofem additionally plans to deploy capital to assist its ongoing EVOGUARD Part 3 medical trial evaluating EVO100 to stop chlamydia and gonorrhea in ladies.
Acasti Pharma Inc. (NASDAQ: ACST)
One other one of many biotech penny stocks that may very well be on the radar this week is Acasti Pharma. The truth is, the previous few weeks of motion have seen a lot increased day by day buying and selling volumes in comparison with the start of Q2.
One thing that has helped drive that is the corporate’s acquisition information. Final month Acasti introduced that it signed a definitive settlement to accumulate Grace Therapeutics. This can present Acasti with a pipeline of uncommon and orphan illness packages. Some packages, particularly, embody Grace’s 3 clinical-stage belongings which have all obtained Orphan Drug Designations from the FDA.
“On account of the merger, we anticipate the mixed firm can have the monetary sources to fund our lead packages to vital worth inflection factors. Our board of administrators have permitted the proposed transaction with Acasti, which can also be supported by Grace’s shareholders,” defined Vimal Kavuru, co-founder and chairman of Grace.
After a powerful transfer during the last week, ACST inventory is coming into the brand new week stronger than it did the final. With retail merchants following the progress of this deal, will probably be attention-grabbing to see if this bullish pattern continues.
What Penny Shares Are On Your Record Proper Now?
These are just a few penny shares on Robinhood gaining consideration proper now. With one other huge week forward, I’m certain there will probably be a lot extra that we’ll focus on. With a resurgence in small-caps because of meme shares like BlackBerry, AMC, & GameStop inventory, summer season may very well be an thrilling time for affordable shares.