Can You Make Money With Penny Stocks On Robinhood? 3 To Know Now

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Investors are Eyeing These Penny Stocks on Robinhood 

Since the start of 2020, penny stocks have been a. hot topic. No matter your investing strategy, there seem to be penny stocks to fit every portfolio. In addition, the rise in popularity of the trading app Robinhood has helped bring penny stocks even further into the spotlight. Now, one thing to keep in mind is that penny stocks are usually quite volatile. This stems from their sub-$5 prices as well as the inherent volatility of smaller market cap companies. But, for many traders volatility is something that is necessary to make daily gains. 

On the other hand, it can also mean quick losses if one is not paying close enough attention. While 2020 has been quite a tumultuous year for all, some penny stocks have managed to make big gains. If we look at the stock market wholly, we see several industries that have solid future potential.

This includes marijuana penny stocks, biotech penny stocks, and mining penny stocks. While there are more industries that have made big gains, these sectors alone have seen heightened popularity. With more and more people using Robinhood to trade, let’s take a look at three interesting penny stocks on Robinhood right now. 

Robinhood Penny Stocks to Watch

  1. Opko Health Inc. (OPK Stock Report
  2. Zosano Pharma Corp. (ZSAN Stock Report
  3. Newage Inc. (NBEV Stock Report

Robinhood Penny Stocks to Watch: Opko Health Inc. 

Opko Health Inc. is a healthcare company that specializes in the pharmaceutical and diagnostics industry. The company reportedly has operations around the world in countries such as Ireland, Spain, Israel, Mexico and Chile. Since the pandemic began, many penny stock investors have been closely watching OPK stock. This is because the company participates in the diagnostic sector which has seen a big boost due to Covid.

Recently, a report was done on Opko’s expected quarterly results. Within the report, the research firm Zacks, expects Opko to announce sales north of $436 million. When compared to last year’s same quarter, Opko could post a year-over-year growth rate of more than 94%. We have to keep in mind that these are only estimates at this point. But, we have seen Opko Health push a lot of growth this year. 

For the full year, analysts have stated that Opko Health could post around $1.37 billion in sales. In its latest quarterly report that was posted on October 29th, the company reported $0.04 earnings per share. In addition, the company posted revenue of $428 million, beating expectations by almost $60 million. Upon announcing these results, several equity firms upgraded shares of OPK stock from a “d” rating to a “c-“.

What’s more is that there’s been a string of big, insider buying of the stock. Aside from the Form 4 filed on November 2, the most recent filed on the 10th shows CEO & Chairman Phillip Frost, M.D. increasing his growing position in the company.

robinhood penny stocks to watch Opko Health Inc. (OPK stock chart)

Robinhood Penny Stocks to Watch: Zosano Pharma Corp. 

Zosano Pharma Corp. is a clinical-stage biopharmaceutical company that is working on the development of several novel drugs. The company states that it is working on a new method for administering drugs. This is done through a titanium micro-needle that is coated with the drug.

The benefit of this is that it can enable rapid absorption of the therapeutic in patients who desperately need it. In addition, its primary drug that it is in production of, Qtrypta, can be delivered via this method to rapidly treat migraines. Recently, the company announced that it had received a complete response letter from the FDA regarding Qtrypta.

Steven Lo, CEO of Zosano stated that “we are working diligently to address the deficiencies identified by the FDA and look forward to the possibility of resubmitting our NDA. We expect that the Type A meeting with the FDA will provide clarity on the next steps for the program, which we will communicate if solidified. There are thousands of people suffering from migraine attacks that are not adequately addressed with available drugs.”

While FDA approval is not yet on the table, the company is taking the steps to move forward with Qtrypta. On Tuesday, November 10th, shares of ZSAN stock shot up by more than 23%. With this, investors continue to keep their eyes on this as one of the penny stocks to watch. 

robinhood penny stocks to watch Zosano Pharma Corp. (ZSAN stock chart)

Robinhood Penny Stocks to Watch: NewAge Inc. 

NewAge Inc. is a producer and distributor of health and wellness beverages. The company is in the production of everything from energy drinks to kombucha and more. In addition to the U.S., Newage Inc. sells its products in 60 countries around the world. On November 9th, Newage announced its third-quarter 2020 results.

In the report, CFO Greg Gould stated that “for the third quarter ended September 30, 2020, net revenue was $62.7 million, slightly ahead of the previous quarter and Q2 2020, and behind the third quarter of ’19, where we did $69.8 million. During the quarter, Covid-19 and the timing of significant qualifying events related to our IPC’s compensation in China most significantly impacted the results.” 

In addition to this, the company announced that in the U.S., revenue grew by 11% during the quarter. NewAge has continued to move into the Japanese beverage market. Japan has since become the company’s largest market. In the announcement, the company stated that gross profit came in at $37.5 million. Well, this quarterly result was not as great as some investors would’ve hoped, we have to take into account the effects of Covid on retail product producers. 

In the quarter, the company also stated that its net loss came in at $0.14 per share. Lastly, the company announced that its liabilities we’re reduced by almost $8 million. Brent Willis, CEO of the company stated that this quarter is a standalone one in terms of its underperformance. The hopes are that in the next quarter, Newage Inc. can begin to pull its financials together to become a penny stock to watch. 

robinhood penny stocks to watch NewAge Inc. (NBEV stock chart)

Robinhood Penny Stocks Continue to Peak Investor Interest 

With the increasing popularity of Robinhood, many investors have begun to focus on penny stocks. The aforementioned penny stocks to watch are only a few of a much larger industry. While these penny stocks do look like they have a lot of potential, it’s up to investors to make their own decisions. As always, research is the cornerstone of making potential gains with penny stocks.

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The post Can You Make Money With Penny Stocks On Robinhood? 3 To Know Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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