Robinhood exploded onto the trading scene a few years ago, and now it’s one of the most popular stock trading apps, especially among younger adults. If you trade penny stocks on Robinhood, you probably know that there are limited options. OTC stocks aren’t available on Robinhood so users can only trade penny stocks that are listed on major exchanges, like NYSE and NASDAQ.
Even without over the counter stocks, there are plenty of penny stocks available on Robinhood.
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Top Five Robinhood Stocks to Buy Now
These hot penny stocks are available to trade on Robinhood. If you’re interested in opening a Robinhood trading account, sign up with this referral link to get a free share of stock when you join.
Atlantic American Corporation (AAME)
Atlantic American Corporation is a life insurance company based in Atlanta, Georgia. Shares closed last week with a 25% jump, making it one of the best performing penny stocks on Robinhood.
Last month, Atlantic American Corporation reported its third-quarter earnings. The company posted a net loss of $1.4 million, or $0.07 per common share for the quarter ended September 30th. However, premium revenue during that period went up to $45.0 million. This is 5.8% higher than $42.6 million recorded in the same quarter of 2018.
Share prices have been volatile since the earnings release, and there was no obvious catalyst for last week’s drastic move. This is a battleground stock that could go either way.
Matinas BioPharma Holdings Inc. (MTNB)
Matinas BioPharma Holdings Inc. is another Robinhood penny stock you could buy now. The company’s shares posted a gain of 23% to close out last week, and it was up 2% in Monday’s pre-market trading session.
Some Wall Street analysts rate the stock as a ‘BUY’, and their average price targets are much higher than current levels. HC Wainwright and Maxim Group told their clients that the shares of Matinas BioPharma Holdings Inc. is a ‘Buy’ at the moment. Some institutional investors like Vanguard Group Inc., Millennium Management LLC, Bank of New York Mellon Corp, and Wells Fargo & Company MN all increased their stake in the company.
Plug Power Inc. (PLUG)
This hydrogen fuel cell producer is on FIRE! It’s up over 1,000% over the last 12 months, and it’s showing no signs of slowing down. This company is one of the leading producers of hydrogen fuel cells, which are being used to power a new generation of clean vehicles. These machines produce virtually no emissions, and they have a smaller environmental impact than the giant batteries used in electric vehicles. This company has been on an incredible run, but it still looks like a long-term winner.
Chesapeake Energy Corporation (CHK)
Chesapeake Energy Corporation is one of the most popular penny stocks. The oil and gas firm is based in Oklahoma City. Chesapeake had a rough year, along with the rest of the oil stocks, but share prices might have hit a bottom. CHK was up 5% last Friday, and it was trading higher on Monday’s pre-market.
Chesapeake’s stock rebounded sharply after the company announced a plan to secure a four-and-a-half-year term loan of $1.5 billion. Chesapeake will use the money to tender an unsecured note offer. This stock might be ready to pivot towards gains, but this company is in trouble. This stock could eventually go to zero if the company doesn’t recover.
SAFE T GRP LTD/S ADR (SFET)
SAFE T Group is an Israeli software company that provides Trust Access solutions to eliminate attacks on critical services and sensitive data for companies. The shares of the company is up by 3% over the past 24 hours and could move higher over the coming days.
Late last month, SAFE T Group reported its third-quarter earnings. Total sales came in at $1.3 million, growing 444% since Q3 2018. Last week, SAFE T Group became a part of the Fortinet Fabric-Ready Technology Alliance Partner program. The company will use its Software-Defined Perimeter system to develop secure and agile remote access software using the Zero-Trust Concept.
More Robinhood Penny Stocks You Can Buy Now
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