3 Penny Stocks To Buy On Robinhood Under $3 Right Now

Robinhood Penny Stocks To Watch Next Week

In December 2020, there are plenty of options when it comes to penny stocks to watch. While these cheap stocks are quite volatile, there are ways that traders can use this volatility to their advantage. One of the best ways to start finding potentially valuable penny stocks is to know what type of investor you are. There seem to be two schools of thought when it comes to investing. The categories are separated into long term investors and short term traders. Both of these styles can be valuable, but depending on certain stocks, you need to figure out which one you are. 

Within this, there are two ways to go about trading. First, some might trade on speculation. This simply means using news and press releases to determine when a penny stock might move up or down in value. Speculation around penny stocks is typically high, in general. On the other hand, we have those that trade on fundamentals. This is a great strategy to use when looking at potentially more valuable stocks, but with these types of stocks, speculation seems to be key.

More On Robinhood

Now, investors can use a mixture of these two strategies, but they may want to lean more toward a short-term approach at the beginning of a trade. The simple fact is that volatility can play a big role with penny stocks and short term spikes are common. Capitalizing means profiting on bigger moves. With the case of stocks under $5, these moves can come quickly, which is why so many are attracted to day trading these cheap stocks.

Should You Buy Penny Stocks On Robinhood?

This idea of fast-paced trading is one of the biggest contributing factors to the “Robinhood generation” of traders. The pandemic has been a catalyst for new market participants to join in on the action. When someone can make $1000 in less than an hour, that’s saying a lot considering many were making that in a week or more at a full-time job.

Needless to say, when it comes to trading penny stocks on Robinhood, there’s a unique scenario. That is most of the stocks under $5 are only accessible if they trade on a major exchange. In particular, when it comes to finding stocks under $1, the list gets even shorter. Lucky for you, you’ve stumbled upon this article and there are several cheap penny stocks to watch this coming week that Robinhood traders can pull up on their mobile app.

Robinhood Penny Stocks to Buy Under $3: Northwest Biotherapeutics Inc. 

Northwest Biotherapeutics Inc. is as the name suggests, a biotech company. The company is developing immune therapies that can personally target different types of cancer. Its leading product known as DCVax, is used to activate dendritic cells in the body. This results in the body utilizing its own immune system to create an anti-cancer response. Currently, DCVax-L is in a Phase III clinical trial to treat a rare type of brain cancer. In addition, the company states that its drug DCVax-Direct, is in a Phse I/II clinical trial to treat otherwise inoperable tumors in the body. The prior trial has been ongoing for as long as 14 years. For this reason, many investors have a great deal of interest in what happens once this study is concluded. 

What To Watch With NWBO

Back in 2016, the study was supposed to conclude by November. But, a greater than expected death rate occurred in patients from their underlying diseases. This means that the study needed to enroll more participants in order to continue. In the short term, this means that there may be more time for investors to wait.

But in the long term, if NWBO can get this study finished, there’s no telling how useful this drug could be. While this may seem frustrating, studies like these unfortunately take a great deal of time. The reality is that it is currently unknown as to when this study will be completed. But in the meantime, it’s up to investors to decide whether or not NWBO is a penny stock worth watching. 

Penny Stocks to Watch Northwest Biotherapeutics Inc NWBO Stock Chart

Robinhood Penny Stocks to Buy Under $3: Leap Therapeutics Inc. 

Leap Therapeutics Inc. is another biotech company working similarly to Northwest Biotherapeutics. The company states that it has several unique drugs currently in its pipeline. This includes DKN-01, TRX518, and more. These drugs are used to treat everything from hepatobiliary cancers all the way to solid tumors. Last month, Leap Therapeutics announced its Q3 financial results for the period ending on September 30th 2020.

Read More

In the results, the company stated that it offered its first dose to a patient in the Phase 2a study of DKN-01. Douglas Onsi, CEO of the company stated that “data from our ongoing studies continue to demonstrate the potential of DKN-01 as both a single-agent or combination treatment.” In addition to this, the company stated that it brought in a net loss of around $7.1 million.

This is about 900,000 less than the loss of the same period in 2019. In addition, the company ended the quarter with around $58 million in cash and cash equivalents. This is quite common for companies working in the biotech sector. Usually, biotech businesses will show high operating losses until a product is approved for public use.

What To Watch With LPTX

Leap Therapeutics has several drugs that are currently in its pipeline, simply moving through the various approval processes. If it is able to get approval on these treatments, there’s no telling what Leap Therapeutics could do in the long term. But until that time, speculative volatility seems to be driving momentum this month.

Penny Stocks to Watch Leap Therapeutics Inc LPTX Stock Chart

Robinhood Penny Stocks to Buy Under $3: Novan Inc. 

Novan Inc. in sticking with the theme is another biotech company. However, Novan works quite differently than the other two on this list. Novan Inc. is working on producing and commercializing various therapies to treat viral illnesses. This includes drugs made with its proprietary nitric oxide technology platform known as Nitricil. This allows for the treatment of dermatological issues as well as gastroenterology conditions.

What To Watch With NOVN

Currently, the company states that its SB206 treatment is in a Phase 3 clinical study. This is in use in the treatment of molluscum contagiosum and is proving to be effective for those who need it. Novan states that this drug will be in use by caregivers to offer rapid relief for the aforementioned ailment. On Tuesday, December 15th, the company announced that it received 60% enrollment for its Phase 3 study of SB206. 

Paula Stafford, CEO of Novan, stated that “Achieving 60% enrollment amidst the Covid-19 pandemic is a noteworthy accomplishment for our B-Simple4 pivotal program and highlights the unmet needs that exists for patients. We believe that SB206 has the potential to offer a solution to molluscum patients and we are encouraged by the overall enthusiasm we have seen for this study. I would like to take this opportunity to sincerely thank all the investigators and their staff, as well as the molluscum patients for their ongoing support and participation in this study.”

With enrollment moving up, it looks like this study could be one to keep a close eye on. In the meantime, investors can choose if NOVN stock is worth watching in the upcoming week.

Penny Stocks to Watch Novan Inc. (NOVN Stock Chart)

The post 3 Penny Stocks To Buy On Robinhood Under $3 Right Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Leave a Reply

Your email address will not be published. Required fields are marked *