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 5 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.
Neurometrix Inc. (NURO)
Neurometrix is a healthcare company that combines bioelectrical and digital medicine to address chronic health conditions, including chronic pain, sleep disorders, and diabetes. The company focuses on the sale of medical equipment, consumables, and accessories.
The company reported an update regarding clinical studies into its DPNCheck product in March. DPNcheck is a point-of-care test that provides accurate screening, diagnosis, and monitoring of peripheral neuropathies. The cost-effective test primarily detects diabetic peripheral neuropathy (DPN). If the product catches on, it could help Neurometrix could grow its revenues over the next few months.
MEI Pharma Inc. (MEIP)
This oncology-focused biotech firm focuses on the clinical development of drugs and therapies for the treatment of cancer. Their portfolio of clinical drug candidates comprised of Pracinostat, ME-344, and ME-401.
On April 14, MEI announced that it had entered an agreement with Kyowa Kirin Co., Ltd. The partnership between MEI and Kyowa is regarding the global license, development, and commercialization agreement surrounding ME-401, an oral, once-daily, investigational drug for the treatment of B-cell malignancies. Under the terms of the partnership, MEI and Kyowa will work together to co-develop and co-promote ME-401 in the United States.
MEI has also made some additions to its board to help boost its marketing and commercialization efforts. In April, the company appointed a 25-year pharma industry veteran, Cheryl L. Cohen, to the board of directors.
Second Sight Medical Products Inc. (EYES)
Second Sight Medical Products Inc. is a California-based firm that develops neuromodulation devices to treat blindness. Second Sight has the most advanced technology platform for delivering the groundbreaking artificial vision.
In an effort to cut costs, Second Sight recently laid off approximately 84 of its 108 employees on March 31, 2020. Second Sight is undergoing some structural and managerial changes at the moment. The company announced that its board appointed Matthew Pfeffer as acting CEO. Pfeffer is a member of the Board and Chairman of the Audit Committee of the Board.
The changes in management in the company could lead to a new beginning for Second Sight. Thus, it could be an exciting penny stock to keep an eye on over the next few weeks.
RigNet Inc. (RNET)
The Texas-based company is the first and only non-health stock on this list. RigNet is a tech company that provides customized communication services and cybersecurity solutions. RigNet operates via three sectors: Managed Communications Services, Applications and Internet-of-Things (Apps & IoT), and Systems Integration.
In March, RigNet announced that it won a five-year Information Technology Professional Services contract with the U.S. General Services Administration (GSA) Multiple Award Schedule (MAS). The contract includes 3 5-year renewal options, so it can be extended for up to 20 years.
Artelo Biosciences Inc. (ARTL)
Artelo Biosciences Inc. is a biopharmaceutical company that develops and commercializes clinical-phase therapies. The firm has a diverse portfolio of therapies that modulate the body’s endocannabinoid system.
On April 14, Artelo reported its financial results for the second quarter of its 2020 fiscal year. In the report, the company reported favorable early-phase data for several drugs in its pipeline. Artelo also announced that it recently secured a $4.2 million grant from the National Cancer Institute.
More Robinhood Penny Stocks You Can Buy Now
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