What Are The Best Penny Stocks On Robinhood To Watch? 4 To Know

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Biotech Penny Stocks On Robinhood Catching Attention This Week

One of the fastest-growing platforms for buying penny stocks right now is Robinhood. I’m no advocate for the mobile broker. But there is something to be said about the design of the user interface that has made it the broker of choice for millions. Aside from giving free stock and invite bonuses, buying penny stocks on Robinhood is as simple as tapping a few buttons.

In comparison to others like TD Ameritrade or ETrade’s mobile platform, Robinhood is pretty simplistic. Where it lacks in technical trading tools, it gains in a straight forward means of buying and selling. Is it the best penny stock broker? You can decide for yourself but even with its technical issues, millions of users are jumping on the Robinhood Bandwagon.

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JMP Securities analyst Devin Ryan expects that the start-up’s account growth remains in an uptrend this year. He said Robinhood “likely added 5 million accounts” from the beginning of 2020 until the end of the third quarter. Now, does this mean that all penny stocks on Robinhood are different from, say penny stocks on Webull or TD Ameritrade?

Not necessarily, but there are a few differences, namely the fact that not all penny stocks (including OTC names) are available to trade on the platform. Needless to say, we’ve found a few penny stocks on Robinhood that’ve begun catching some attention heading into Election week.

Penny Stocks On Robinhood To Watch #1: Marathon Patent Group Inc.

If you talk about Election stocks, you can’t neglect cryptocurrency and blockchain penny stocks. Traders have begun regarding digital currencies as almost a hedge in the same sense that gold has been. While this isn’t quite a mainstream ideology at the moment, it is a niche we’ve seen gain ground during times of uncertainty in the market. Obviously, major elections could present uncertainty in the market.

Marathon Patent Group, Inc. (NASDAQ: MARA Stock Report) has become the poster-child for crypto penny stocks recently. The company itself focuses on mining digital coins. The company recently signed a contract with Bitmain to purchase an additional 10,000 Antminer S-19 Pro ASIC Miners. This is supposed to secure the network and process every Bitcoin transaction. With delivery not expected until January, there’s still a lot of time before these are officially deployed. But assuming that COVID-19 and fiscal stimulus are still key tailwinds for the crypto space, does a few months matter in the long run?

The company also has earnings coming up next week. On Monday, Marathon delivers its next round of results.

best penny stocks on robinhood to watch now Marathon Patent Group Inc. (MARA stock chart)

Penny Stocks On Robinhood To Watch #2: Lipocine Inc.

Lipocine Inc. (NASDAQ: LPCN Stock Report) is a penny stock we’ve followed off and on. However, it hasn’t been much of a company to discuss since dropping at the end of the third quarter. One of the biggest reasons for the drop was uncertainty. Yes, individual stocks also drop when investors are uncertain of a company’ss future. What’s there to be uncertain about with Lipocine? The company has other pipeline treatments like its LPCN 1144 for steatohepatitis. But the main thing are focusing on is Lipocine’s TLANDO. Back in August, the FDA said it needed more time to review the company’s New Drug Application for the treatment. This NDA was a big point of focus earlier this year.

“Although the FDA did not provide a timeline on a new action date, the FDA informed the company that the review is expected to be completed in the coming weeks,” Lipocine said in an August 28th PR. It’s now been more than a few weeks and going on months for this long-overdue information. Needless to say, this doesn’t mean LPCN stock isn’t one to watch this month and here’s why.

[Read More] 3 Penny Stocks To Watch Ahead Of This Week’s Presidential Election

Next week, the company is set to present results from studies that suggest low testosterone levels could actually play a role in clinical outcomes of COVID-19 in men. Furthermore, the company will discuss the safety and efficacy of TLANDO. Lipocine outlines all of this next Monday at the Fall Scientific Meeting of the Sexual Medicine Society of North America.

best penny stocks on robinhood to watch now Lipocine Inc. (LPCN stock chart)

Penny Stocks On Robinhood To Watch #3: OrganiGram Holdings Inc.

While there are plenty of marijuana penny stocks to watch, very few are accessible via Robinhood. In fact, one of the hottest groups of pot stocks right now are MSOs or “multi-state operators” and there’s a problem. The biggest problem with finding MSOs is that most are dually listed with the main exchange being a foreign one.

So, this is where you’ll find a list of marijuana stocks with 5 letters and the 5th letter being an “F”. So how to you buy marijuana stocks on Robinhood? Well, you could first look at any of the pot stock ETFs. One of the newer ones to hit the market is AdvisoShares Trust Pure US Cannabis ETF (NYSE: MSOS ETF Report). The main goal of the ETF is to invest in, well, multi-state operators.

Other pot stock ETFs include Alternative Harvest ETF (NYSE: MJ ETF Report), AdvisorShares Pure Cannabis ETF (NYSE: YOLO ETF Report), The Amplify Seymour Cannabis ETF (NYSE: CNBS ETF Report), as well as Spinnaker Cannabis ETF (NYSE: THCX ETF Report). But what about individual stocks? Unfortunately, those looking for marijuana penny stocks on Robinhood are limited to NYSE and NASDAQ listings for now. We discussed several of these pot stocks earlier this week. One we didn’t talk about was OrganiGram Holdings Inc. ( NASDAQ:OGI Stock Report). Shares have followed a similar 2-day trend as other cannabis names heading into Election day.

For this Election stock, it’s important to understand that speculation is a big driver right now. The outcome of the election could decide that this trend looks like by the end of the year. Either way, Organigram is pushing higher during the first half of the week so far and might be worth a closer look.

best penny stocks on robinhood to watch now OrganiGram Holdings Inc. (OGI stock chart)

Penny Stocks On Robinhood To Watch #4: AquBounty Technologies Inc.

As obscure as some companies might appear to be, AquaBounty Technologies Inc. (NASDAQ: AQB Stock Report) was one we had a few eyebrows raised on. The company is listed among biotech penny stocks. However, its business model centers around sustainable fish farming. Dubbed a “land-based aquaculture company,” AquaBounty has set its sites on expansion this year. A few days ago, the company announced Mayfield Kentucky as a potential location for its new salmon facility.

[Read More] Top 5 Penny Stocks On Robinhood For November 2020

This 10,000 metric ton facility will be the company’s first, large-scale commercial operation. Sylvia Wulf, Chief Executive Officer of AquaBounty explained that negotiations are in process and that the company is, “conducting due diligence, and are moving forward as quickly as possible to finalize the transaction.”

This was one of the top penny stocks to watch earlier this year. AQB jumped from around $2.40 in August to highs of more than $5 in August and September. After consolidating for a few weeks, AQB stock has started gaining ground this week. The company is set to hold a special shareholder meeting later this month to vote on approving an increase in authorized shares from 50 million to 80 million.

best penny stocks on robinhood to watch now AquaBounty Technologies Inc. (AQB stock chart)

The post What Are The Best Penny Stocks On Robinhood To Watch? 4 To Know appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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