4 Penny Stocks to Watch on Robinhood
Robinhood, the simple, commission-free software, has become extremely popular with millennials specifically and with those who keep their day jobs in general. Here are 4 penny stocks to watch out for if you are using the app.
Robinhood has made investing easy. It does not charge commissions on trades and allows investing with little in upfront capital. With this tool, you can benefit from the trading of penny stocks which usually yield big gains because of their high volatility.
Here is a close look at 4 penny stocks that should be on your watch if you use the Robinhood trading tool.
VivoPower International Plc (Nasdaq: VVPR)
A couple of weeks ago, VivoPower International PLC, the solar power company, announced its financial reports for the year ended March 31, 2019. The company showed advances in its critical power services businesses, which have strongly outperformed, delivering 28% year-over-year growth in revenue.
©TradingView. July 19, 2019.
It also posted an increase in gross profit and unrestricted cash resources and a reduction in corporate and solar overheads. At market close on July 19, VivoPower was trading at 1.38 USD.
Obalon Therapeutics, Inc. (Nasdaq: OBLN)
On June 4, Obalon clinched the first US patent for obesity treatment placement system. Earlier, the stock had spiked above $1 hitting a high of $1.92 mark based on unfounded rumors of a possible takeover by Johnson and Johnson.
Nevertheless, on July 16, the company announced that it had obtained two new U.S. patents covering its proprietary intragastric balloon system. The filings brought Obalon’s issued patents in the U.S to 22 and 31 issued patents internationally.
©TradingView. July 19, 2019.
At market close on July 19, Obalon was trading at just 0.6050 USD, having shed most of its value over the previous weeks.
Neptune Wellness (Nasdaq: NEPT)
Neptune Wellness (Nasdaq: NEPT) has been popular with investors in recent months. On June 1, it was trading at $4.14. At market close on July 17, the stock was well above the $5 mark. By the end of the 2019 H1, Neptune Wellness (Nasdaq: NEPT) had already soared by 71%.
The rise in the value of the company’s shares can be attributed to its phenomenal success so far. On June 7, the company announced that it had signed a three-year deal with Tilray (NASDAQ: TLRY) to provide extraction and related services for at least 120,000 kilograms total of cannabis and hemp biomass.
©TradingView. July, 19, 2019.
Same month, Neptune signed its largest extraction deal ever, the “largest cannabis extraction deal publicly announced to date in Canada”: a three-year agreement with The Green Organic Dutchman for processing a minimum of 230,000 kilos of cannabis and hemp biomass.
J.C. Penny (NYSE: JCP)
For this July and beyond, J.C. Penny is a stock you should include in your watch list. The stock just saw a reversal after a recent drawdown, with its price moving up to as high as $1.25 in June from a two-month low of $0.85. The major factor responsible for this was the purchase of its shares by members of the board.
Also, the company has been going through some major restructuring. It has been streamlining its processes and closing down underperforming businesses to cut costs.
©TradingView. July 19, 2019.J.C Penny recently made a list of stocks that fell from grace. However, being currently traded at an all-time low, this might be a good time to profit from its intraday movement at a low price.
