Making a penny stocks watchlist is the best way to get ahead in the market. It offers a game plan, and a way to keep the top penny stocks for your list in an organized and concise fashion. However, many investors fail to take this simple step, and rather turn to social media to find penny stocks to buy.
This is not a bad strategy, but rather, finding penny stocks on Reddit or Robinhood should only be one stage of your process. When making a penny stocks watchlist, the best course of action is to first determine your strategy. Additionally, in 2021, the trading application Robinhood is one of the most popular ways to trade penny stocks.
You might be thinking, wait, I thought penny stocks were only tradable on OTC markets? But, the answer to this lies in the definition of penny stocks. These are any security trading under $5, which means that there are hundreds of options to choose from. Penny stocks are listed on the NASDAQ, NYSE, OTC, and almost any exchange you can think of. For this reason, many investors have taken to Robinhood to find the best penny stocks to buy.
Robinhood offers no-fee trading, ease of use, and a fully accessible platform. While transactions can be slow and it has been known to halt trading of high volume stocks, it is for the most part, a great place to have a portfolio. Considering this, let’s take a look at some of the best penny stocks to watch on Robinhood right now.3 Penny Stocks on Robinhood to Watch Right Now
- Adamis Pharmaceuticals Corp. (NASDAQ: ADMP)
- Predictive Oncology Inc. (NASDAQ: POAI)
- Electrameccanica Vehicles Corp. (NASDAQ: SOLO)
Adamis Pharmaceuticals Corporation is a biotech penny stock that develops and commercializes allergy and respiratory disease therapeutics. Its Symjepi Injection pre-filled syringe product is in use in the emergency treatment of acute allergic reactions such as anaphylaxis.
It is also developing APC410, which is for treating respiratory diseases such as asthma, influenza, and COVID-19. Over the past year or so, biotech companies involved in a Covid treatment or vaccine have understandably increased in value. And while Covid may be almost over, it appears as though Adamis has a lot to offer.
So what is causing ADMP stock to go up at the current moment? Adamis provided an update on its clinical trial start-up progress for Tempol in the treatment of COVID-19. The goal of Tempol is to examine the safety and activity in patients with early COVID-19. This is something that not many companies are working on, as most treatments are for later-stage coronavirus infections.
“We believe that additional treatment modalities are sorely needed for COVID-19 due to the surge of virus variants. Because of Tempol’s mechanism of action, it may inhibit viral replication of all current and future variants of the virus.
The results of the NIH studies further support the importance of our clinical trial. The addition of a well-respected data safety monitoring board to the well-designed trial should further increase the likelihood of meaningful clinical data.”The CEO of Adamis, Dennis Carlo
With biotech, it’s always an encouraging sign to see a product in the various stages of approval. While Tempol is still in early development, having large amounts of clinical data will help to move it along. Considering this, will it be on your penny stocks watchlist?Predictive Oncology Inc. (NASDAQ: POAI)
Predictive Oncology Inc. is another biotech penny stock that works through three segments that contain four wholly-owned subsidiaries. These subsidiaries include Helomics, TumorGenesis, Skyline Medical, and Soluble Biotech. Through this, it creates healthcare products, studies new methods of cancer treatment, and offers services for the medical industry in the United States.
Skyline Medical produces an environmentally conscious system for the collection and disposal of infectious fluids the come from surgery and post-operative care. Its STREAMWAY product is a wall-mounted system that disposes of suction fluid providing uninterrupted performance for physicians.
On June 14th the company as a whole announced a $21.34 million registered direct offering priced at the market. These 15,520,911 shares of common stocks and warrants were sold at $1.375 per share. The net proceeds will be used for working capital purposes and corporate needs. Predictive Oncology also recently attended BIO DIGITAL, which is the world’s largest biotech partnering experience, to its roster.
On June 16th, POAI stock rose more than 8.6% in the market. One of the most exciting parts of POAI is how diverse its operations are. With several subsidiaries, Predictive Oncology can capture certain unique market shares. Many biotech companies tend to focus on only one area of the industry. However, we see that POAI is quite broad in its operations. With all of this in mind, will POAI make your list of penny stocks to watch?Electrameccanica Vehicles Corp. (NASDAQ: SOLO)
Electrameccanica Vehicles Corp. is an electric vehicle penny stock that is growing in popularity. This company develops, manufactures, and sells electric vehicles in Canada. Its flagship product is a single-seat EV known as the SOLO. It is also developing Tofino, which is an all-electric two-seater roadster. Its vehicles sell via retail locations and its e-commerce website.
While the EV market is certainly saturated, SOLO is working to capture a different area of the industry. It claims that its single-seater EV could revolutionize commuter transport. This is not a luxury EV with the goal of beating out gas-powered cars. Rather, it is a new alternative for short-distance, economical travel. While it may take some time for this product to be fully recognized by the public for its value, it is an exciting prospect.
Last month the company reported its first-quarter financial results. Its cash and cash equivalents grew year over year, as well as its net cash on hand. Its operating loss rose due to increases in G&A expenses, R&D, and lower sales. While these results may seem disheartening, with EVs, the focus tends to be on the long term. Right now, the public still prefers gas-powered cars to EVs. But, with Biden pushing for renewables and the world moving toward clean energy, this notion could change. In 2021, it is all about the adoption of this technology, and how widespread it can become.
“In the first quarter of 2021 we continued making progress on several major initiatives, including finalizing customer-ready designs, increasing production throughput, optimizing logistics and supply chain management, and taking additional steps towards realizing our U.S. assembly facility and engineering technical center.”CEO of SOLO, Paul Rivera
It looks as though SOLO is gearing up for major market demand in the coming months and years. Because of this, it could be an interesting long-term play if all goes according to plan. While this may take some time, SOLO stock could be worth keeping an eye on.Which Robinhood Penny Stocks Are You watching?
Buying penny stocks on Robinhood is one of the most popular methods of trading in 2021. However, keep in mind that research and information will always be your best friend. With the power of the internet at all of our fingertips, any trader can be as informed as the most experienced investors out there.
In addition, it is more than beneficial to get a trading education. This will teach you how to buy and sell penny stocks, how to find penny stocks to watch and other strategies. With all of this in mind, which Robinhood penny stocks are you watching?