5 Penny Shares On Robinhood To Watch In The Market Subsequent Week

robinhood penny stocks to watch right now

Are These On Your Listing Of Penny Shares To Purchase Or Keep away from Proper Now?

Prior to now six months, we have now seen a number of sectors and penny shares shoot up in worth. This contains biotech penny shares, mining penny shares, tech penny shares, and extra. Whereas these three areas of the inventory market have worth, there are many industries & sectors to select from. Now, whereas investing in penny shares is just like different shares, there are a number of key variations to contemplate.

For one, as a result of penny shares are low-cost (underneath $5 a share) they’re usually extra risky than different securities. Which means costs of some penny shares to look at might aggressively fluctuate within the double & even triple digits. This shouldn’t scare traders away from investing in penny shares. However, reasonably, to supply an in-depth have a look at what a legitimate buying and selling technique will be.

With this heightened volatility, oftentimes those that commerce penny shares make the most of the swing buying and selling methodology. This implies transferring out and in of positions on a brief time period foundation. That foundation could possibly be wherever from one hour to at least one week. Ideally, swing merchants are searching for a multi-day transfer. This could profit these buying and selling penny shares on a much less frequent foundation.

This isn’t to say you need to solely maintain onto a penny inventory for an extended time frame. If the revenue is there to take, no person ever went broke by doing so. Somewhat, traders ought to at all times have a technique earlier than getting into right into a place. Contemplating the truth that there are actually thousands and thousands of latest merchants on platforms like Robinhood, it might appear becoming to search out some trending penny shares accessible on apps like that. I say this as a result of sure shares, like OTC penny shares, for essentially the most half, aren’t accessible to customers of Robinhood, Webull, and others. With all of this in thoughts, let’s check out 5 penny shares on Robinhood to look at at the beginning of the ultimate, full week of November.

Robinhood Penny Shares to Watch

  1. MicroVision, Inc. (MVIS Inventory Report)
  2. Orbital Power Group, Inc. (OEG Inventory Report)
  3. Canaan Inc. (CAN Inventory Report)
  4. Waitr Holdings Inc. (WTRH Inventory Report)
  5. Marathon Patent Group, Inc. (MARA Inventory Report)

Robinhood Penny Shares to Watch #1: Microvision Inc.

MicroVision, Inc. (NASDAQ:MVIS) is among the steadily mentioned names when it comes LiDAR techniques, which have change into a bit extra fashionable with the rise in pleasure about electrical automobile shares. Additionally of word is that its merchandise are getting used for IoT platforms.

This month, Microvision reported on progress within the growth of its first-generation MEMS Dynamic Scanning Lengthy Vary Lidar (LRL) sensor module. The objective is assembly key automotive trade necessities, with {hardware} for demonstration and benchmarking by subsequent April.

“These first product assessments confirmed sure options together with a capability to realize a variety of 200 meters and continued performance when uncovered to daylight, lidar sensors of different autos and different rogue alerts. The Firm believes continued progress on growing these options might be essential in supporting its pursuit of potential strategic options, which may embrace a sale or merger of the Firm.”

The corporate additionally has defined that it has contracts to license its merchandise to big-name firms. This contains STMicroelectronics and extra. In its most up-to-date monetary outcomes for Q3 2020, the corporate posted $0.6 million in income with a web lack of $0.02 per share. Sumit Sharma, CEO of the corporate acknowledged that “Microvision is concentrated on pursuing a strategic transaction on the proper worth for our shareholders. Our focus is to drive to an settlement at a valuation that displays the sustainable strategic benefit, we consider, our know-how gives now and into the long run.”

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All issues thought-about, MVIS inventory has been on the rise for months. Even after the latest pullback in October, shares have since re-engaged the bullish pattern. Moreover, since we first began reporting on MVIS inventory in 2020, shares have rallied in a giant means.

robinhood penny stocks to watch right now MicroVision Inc (MVIS stock chart)robinhood penny stocks to watch right now MicroVision Inc (MVIS stock chart)

Robinhood Penny Shares to Watch #2: Orbital Power Group Inc.

Orbital Power Group, Inc. (NASDAQ:OEG) is an organization growing and buying vitality and fuel options. These embrace industrial fuel sampling, measurement, and supply techniques. One of many points that makes OEG a penny inventory to look at is that it’s working within the renewable vitality market. With president-elect Joe Biden, America may put a broader focus towards renewable vitality inside the subsequent a number of a long time.

Due to this, many traders have begun to take a look at renewable vitality penny shares. Not too long ago, the corporate reported its Q3 2020 outcomes for the interval ending on September thirtieth. Within the outcomes, the corporate was in a position to double its income over the earlier 12 months to $13.6 million for Q3. As well as, gross revenue got here in at $2.4 million, which is once more greater than double the $1.4 million it introduced in in Q3 2019.

Jim O’Neil, CEO of Orbital Power acknowledged that “within the third quarter, we continued our evolution right into a diversified infrastructure companies supplier. Our lately acquired photo voltaic engineering, procurement and building companies firm, Attain Building Group, is engaged for a number of, utility scale photo voltaic applications beginning within the fourth quarter.”

With this transfer towards photo voltaic, it appears like Orbital Power Group is shifting its enterprise mannequin for the long run. Because of this, traders can determine if OEG inventory is the precise penny inventory to look at.

robinhood penny stocks to watch right now Orbital Energy Group Inc (OEG stock chart)robinhood penny stocks to watch right now Orbital Energy Group Inc (OEG stock chart)

Robinhood Penny Shares to Watch #3: Canaan Inc.

Canaan Inc. (NASDAQ:CAN) is a penny inventory that has seen some main bullish motion up to now few weeks. Prior to now 5 days alone, CAN inventory has shot up by over 56% to its November twentieth worth of $4.35. Prior to now month, that quantity jumps as much as over 90% in positive aspects.

Based mostly out of China, the corporate has been engaged on the manufacturing of ASIC purposes and bitcoin particular mining chips to do exactly that. In 2019, the corporate was rated because the second-largest producer of bitcoin mining {hardware} in the entire world. As well as, in line with a report from Frost and Sullivan, final 12 months the corporate accounted for roughly 21% of the computing energy of all bitcoin machines.

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A report carried out in 2018 by Technavio, acknowledged that the cryptocurrency {hardware} trade could possibly be value $2.2 billion by the 12 months 2022. That represents a CAGR of 10% for yearly transferring ahead. Along with its massive bitcoin sector, the corporate additionally produces AI chips to be used in present techniques. Equally, the AI chip market is topic to see a CAGR of 62% inside the subsequent three years. With all of this in thoughts, we are able to start to see simply how a lot potential bitcoin and blockchain shares may have. Not too long ago, the buying and selling of CAN inventory appears to be fairly risky. Nevertheless, that is merely one thing that penny inventory traders ought to remember.

robinhood penny stocks to watch right now Canaan Inc. (CAN stock chart)robinhood penny stocks to watch right now Canaan Inc. (CAN stock chart)

Robinhood Penny Shares to Watch #4: Waitr Holdings Inc.

Waitr Holdings Inc. (NASDAQ:WTRH) is a singular penny inventory to look at given the market that it’s in. For many who don’t know, Waitr Holdings Inc. is an organization that gives on-line meals supply companies. The corporate has a number of platforms together with the Waitr Platform in addition to the Chunk Squad Platform. Each of those work by providing shoppers a solution to order meals on-line and have it delivered. Whereas we’ve reported on WTRH inventory since final 12 months, the Covid pandemic acted as a springboard in 2020. Meals supply companies have change into extraordinarily fashionable, and Waitr Holdings is working to capitalize upon this. The corporate acknowledged that on the finish of 2019, it had as many as 18,000 eating places on its software throughout 640 cities. On November ninth, the corporate reported its Q3 2020 monetary outcomes.

Within the outcomes, it posted $52.7 million in income which represents a $3 million achieve over the identical quarter of the earlier 12 months. As well as, the corporate introduced in a web revenue of $4.6 million. This will likely not seem to be a lot, but when we evaluate it to the earlier years quarter revenue lack of $220 million, it’s fairly good. Lastly, the corporate introduced in additional than $13 million in adjusted EBITDA for Q3 2020.

Carl Grimstad, CEO of the corporate acknowledged that “we achieved a second consecutive quarter of continued profitability and working money move, which we consider is the results of our elementary strategic initiatives and deal with working a worthwhile enterprise.”

With the meals supply trade persevering with to develop exponentially and new curfews put in place by the likes of New York Metropolis and California, WTRH inventory appears prefer it could possibly be one of many high penny shares to look at proper now.

robinhood penny stocks to watch right now Waitr Holdings (WTRH stock chart)robinhood penny stocks to watch right now Waitr Holdings (WTRH stock chart)

Robinhood Penny Shares To Watch #5: Marathon Patent Group

Marathon Patent Group, Inc. (NASDAQ:MARA) isn’t any stranger to large strikes this 12 months. Since March, MARA inventory has climbed from $0.35 to highs of $5.25. Following a pullback on the finish of the third quarter, bitcoin mania has helped give the penny inventory one other increase of momentum.

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Because the starting of October, shares are up practically 70%. Moreover, Friday’s post-market exercise took shares even larger. By the top of the prolonged hours session, MARA had reached highs of $3.54. Just like CAN inventory, Marathon has benefited from the renewed pleasure surrounding bitcoin. The corporate mines cryptocurrency and over the previous couple of months, has targeted on infrastructure for 2021.

By the second quarter, the corporate is anticipating to have over 23,500 miners deployed equating to a 1,100% increase in mining capability. What’s extra, Marathon sees potential to generate $8.8 million in income per thirty days and $6.7 million gross revenue per thirty days. The corporate additionally estimates that it has the potential to provide 15 to twenty Bitcoins per day. This is able to be at a median manufacturing price of $3,863 per Bitcoin. I believe lots of this potential hinges on what occurs with crypto transferring ahead. As we noticed in 2018 and 2019, the bubble burst and lower bitcoin costs by a large margin. For now, nonetheless, crypto is sizzling and so are a number of bitcoin shares like MARA.

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

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | information@pennystocks.com

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