Why These Robinhood Penny Stocks Might Be Worth Watching
If you’ve invested in penny stocks or blue chips in the past few months, you’ve probably seen how volatile things are. And today is no different from this timeframe. On Tuesday, July 13th, stocks fell, with the S&P 500 correcting from its recent all-time high.
At the moment, sentiment seems mixed with rising Covid cases and inflation data showing the highest consumer prices since mid-2008. This inflation was expected and continues to be the backbone of stock market uncertainty.
But as always, penny stocks don’t like to play by the rules. And that means that even in days of overall declining trading, many on the list of penny stocks will rise significantly due to one factor or another.
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It is always difficult to predict which these will be, but with a little careful research it can be much easier to deduce the winners from the losers. And when we consider that so many traders are buying and selling penny stocks on Robinhood, we add another level of market volatility.
In addition, with another profitable season coming up, we could continue to see both large gains and corrections in the stock market. With that in mind, let’s take a look at four penny stocks that are currently trending at Robinhood.
4 Robinhood Penny Stocks To Watch For Now
- Oxbridge Re Holdings Ltd. (NASDAQ: OXBR)
- Farmmi Inc. (NASDAQ: FAMI)
- B2 Gold Corp. (NYSE: BTG)
- Ault Global Holdings Inc. (NYSE: DPW)
Oxbridge Re Holdings Ltd. (NASDAQ: OXBR)
On July 13th, stocks in OXBR stock rose roughly 6% before shooting a massive 60% in after-hours trading. This puts Oxbridge just above the $ 5 mark, almost pushing it out of the penny stocks range. So why has OXBR stock shot up so much today?
Well, the reason is pretty clear and came with an announcement a few minutes after the market closed. On July 13, Custodian Ventures LLC filed a Schedule 13D announcing the acquisition of nearly 10% of the outstanding common stock of OXBR stock.
“We have made a significant investment in Oxbridge Re because we believe the company offers shareholders an exciting opportunity for significant value creation. I look forward to continuing to work constructively with management and the Board of Directors to actively identify potential strategic options Maximizing Value for “All Oxbridge Re Shareholders.”
The CEO of Custodian Ventures, David Lazar
It’s always big news when an institution has a significant impact on a company. However, given that that stake is close to 10%, it makes sense that OXBR stock skyrocketed that much outside of business hours. While this is primarily a speculative gain, it suggests an institutional move higher in Oxbridge stock at the moment. So it’s up to you whether OXBR deserves a place on your watchlist.
Farmmi Inc. (NASDAQ: FAMI)
This next penny stock, Farmmi Inc., is a company we’ve discussed a lot over the past few months. In some contexts, Farmmi processes and sells edible mushroom products such as shiitake and mushrooms. Other products include bamboo mushrooms, Hericium erinaceus, and many others. In addition, it exports dried shiitake mushrooms and dried black mushrooms, which have become a huge market in the last year. These products are then sold to stores, restaurants and distributors around the world.
At the end of June, the company received a new product export order from Vancouver. This Farmmi dried black mushroom order is expected to bring both a new market for Farmmi and a significant source of income. CEO Yefang Zhang said: “Our customer engagement continues to grow as we create further added value with our leading packaging and logistics to minimize product quality, taste and costly waste.”
This announcement has been added to the list of product orders Farmmi has received in recent months. On July 13th, the FAMI share rose by around 2.5% in the market. Despite some turbulent price movements, many investors are watching the FAMI share closely. With that in mind, will FAMI be on your list of penny stocks to watch out for?
B2 Gold Corp. (NYSE: BTG)
Mining penny stocks like B2Gold Corp. have had an interesting year and a half behind them. Many mining stocks hit new record highs in 2020 after the pandemic hit. Gold and silver hit new price records, which in turn caused many related stocks to do the same. B2 Gold Corp. is one of the companies that has learned a lot from this dynamic. So, for some context, let’s talk about what B2Gold Corp. in the mining industry does.
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B2 Gold Corp. is, as the name suggests, a gold producer who operates a variety of mines. These include mining operations in the Philippines, Namibia and Mali. It also has additional stakes in evaluation and exploration facilities in other countries.
In the past few weeks B2Gold Corp. no company-specific news published. It’s worth noting, however, that BTG stock often moves up or down with the price of gold itself. On July 13, the BTG share rose 1.27%. On the same day, the price of gold rose 0.04%. Now investors are either waiting for the next big announcement from B2Gold Corp. or a big move in the price of gold itself. With that in mind, are you going to add BTG to your list of mining penny stocks to keep an eye on?
Ault Global Holdings Inc. (NYSE: DPW)
Ault Global Holdings Inc. is an industrial penny stock that designs, develops and manufactures energy system solutions. The company then sells these products to the medical and military sectors. Products include power products, current converters, distribution equipment, and more. These products are sold both independently and through distributors.
On July 13, Ault released its preliminary financial results for the second quarter of 2021. The company reported sales of $ 62 million, a staggering 1048% year-over-year increase. Income before tax was $ 44 million compared to a loss of $ 1.4 million a year ago. $ 300,000 of Ault’s revenue has come from cryptocurrency mining since the company resumed operations in March 2021. This massive spike in sales is the main reason stocks are rising right now, and understandably so.
“Our preliminary financial results for the second quarter of 2021 reflect the strength of our lending and trading activities at DP Lending, our financial services subsidiary.
We believe our current credit and investment pipeline is strong and if market conditions for investing in small cap stocks remain good, the future outlook for the company is extremely promising. We see strength in all of our subsidiaries and expect to provide additional capital for our credit and investment platform in the third quarter. ”
Ault’s Founder and Executive Chairman Milton “Todd” Ault, III
At the end of the day, DPW shares soared around 5% and then on July 13th by another 2.5%. Given the information above, are you going to add DPW to your list of penny stocks to watch?
Which penny stocks are currently on your watchlist?
Finding the best penny stocks to buy is about understanding where the market is going. With Robinhood penny stocks, this can be a lot easier given the constant flow of news.
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The best investor will always be the one with the most information, and in the digital age every trader has access to all the information in the world. With this in mind, which penny stocks are currently on your watchlist?
COMTEX_389755566 / 2685 / 2021-07-13T17: 26: 11
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source https://thedailytradingnews.com/4-penny-stocks-that-are-trending-on-robinhood-right-now/
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