3 Penny Stocks on Robinhood For Your June Watchlist
Robinhood penny stocks are some of the most popular in the industry for good reason. The main answer for this is that Robinhood is arguably one of the easiest ways to invest in the stock market. Because of its ease of use and accessibility, millions of retail traders now have the opportunity to invest in penny stocks. Combine that with penny stocks which are by nature, under $5, and we see just how popular they have become.
One thing to note is that a large chunk of penny stocks are traded on the OTC exchange. This is due to both the high cost of listing on either the NASDAQ or NYSE, and the required financials to do so as well. But again, a penny stock is by definition, any stock trading under $5. And, there are hundreds of these on Robinhood to choose from. Because of this, finding the best penny stocks to buy solely comes down to research, and seeing if it is on Robinhood if you use that platform to trade.
Additionally, we have to consider that the effect of Robinhood being so accessible to all is billions of dollars in capital coming from retail traders. This means that volume is higher than ever before and volatility is also extremely high. While this is not a bad thing, it is something to consider with penny stocks on Robinhood. Considering all of these factors, 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 in June 2021
- Antelope Enterprise Holdings Ltd. (NASDAQ: AEHL)
- Transocean Ltd. (NYSE: RIG)
- Camber Energy Inc. (NYSE: CEI)
Antelope Enterprise Holdings Limited (NASDAQ: AEHL)
Up by a staggering 42% in early morning trading following a 38% gain yesterday, is AEHL stock. For those unfamiliar, Antelope Enterprise manufactures ceramic tiles for a myriad of uses in China. Amid falling Covid cases and vaccine rates at all-time highs, people are beginning to work on their homes, and large companies are continuing major infrastructure projects. While this has been going on for the past few months, it is pickling up intensely right now.
Antelope supplies all types of tiles through its various subsidiaries, vastly increasing its market reach and consumer demand.These tiles are used for interior flooring, design, and exterior siding in residential and commercial buildings. Its brands include HD, Hengda, HEDL, Hengdeli, TOERTO, and many more in China.
Back in April, the company released its financial results for the second half of 2020. Revenue for the company came in at around $21 million, down by around $300,000 over the same quarter of the previous year. While it did pull in a substantial loss of $3.67 per share, this is much less than the $13.08 loss per share it took in during the same period of 2019.
"Our average selling price subsequently decreased for the second half of 2020 as compared to the same period of 2019, where the price decrease was in effect for only two months, but this mitigated what we believe would have been a greater decline in sales as compared to the modest decrease in sales volume that occurred in the second half of the year as business conditions due to the COVID-19 pandemic began to normalize."The CEO of Antelope, Ms. Meishuang Huang
While there is no company-specific news driving this massive price spike, it could be the result of high speculation and future hopes on the end of the pandemic. It's hard to pinpoint one reason, but we do see moves like this occasionally with penny stocks. Considering this, will it be on your list of stocks to watch in June?
Transocean Ltd. (NYSE: RIG)
Oil and gas penny stocks like Transocean Ltd. have also seen increased demand as a result of the pandemic coming to a close. For those unfamiliar, Transocean provides offshore contract drilling services for wells around the world. It contracts drilling rigs, work crews, and related items to help with the process of offshore oil extraction.
As of February 2021, it has partial interest in or fully owns 37 mobile offshore drilling units. This includes 27 ultra-deepwater and 10 harsh environment floaters. This is quite a large amount and shows that RIG has a great deal of exposure to the energy sector. With its stock price increasing substantially in the past few days, what reasons can we find for this bullish interest?
On June 7th, Transocean announced an agreement with Jurong Shipyard Pte Ltd. on the delayed delivery of ultra-deepwater drillships. JSPL has agreed to accept deferred payment for the rigs due to the delays. While the time frame of this delivery is important, it is more important that Transocean gets these rigs.
This will result in an ability to begin meeting increased demand. Because of the pandemic slowing down in severity, many believe that the demand for oil and gas will shoot up dramatically in the coming months. While this may not have an immediate effect on RIG stock, it could show up in the company's financials.
"These agreements clearly represent a monumental achievement for Transocean. As the result, we will take delivery of the two highest specification ultra-deepwater drillships in the world, and the only two assets capable of drilling and completing 20,000 psi wells."CEO of Transocean, Jeremy Thigpen
While RIG stock had been up by as much as 5% on June 8th it managed to finish the day relatively flat. Despite this, many believe in the long-term future of RIG stock. Whether it's worth watching, however, is up to you.
Camber Energy Inc. (NYSE: CEI)
Another energy penny stock that is performing well at the moment is Camber Energy Inc. Camber Energy acquires, develops, and sells crude oil, natural gas, and natural gas liquids. The Texas-based company had total estimated proven reserves of 133,442 million barrels of oil equivalent as of last March. Camber also has 207,823 million cubic feet of natural gas reserves. This is a very substantial reserve amount, and it's worth noting that it still has quite a lot of oil in the ground at its oil fields.
Again, many believe that the demand for oil and gas could rise in the coming months with more people traveling than during the pandemic. But for now, this remains mostly as speculation. Camber's majority-owned subsidiary, Viking Energy Group Inc., announced its first-quarter results on May 25th. While its revenue was lower than the previous year's same quarter, this makes sense given the effects of Covid on the energy industry during that time.
The President and CEO James Doris said, "We are pleased with Viking's Q1 results, especially following the unprecedented conditions experienced in 2020. We are extremely encouraged with the foundation we have established, and are intensely focused on pursuing growth opportunities."
Many energy companies are sharing this sentiment right now. The results from the latest quarter have been relatively disappointing for most similar businesses. However, investors are hopeful about the long-term future of oil and gas.
CEI stock is up about 3% with more than two times its average trading volume on June 8th. Those financial results were Camber's most recent updates. It seems like this oil and gas company is recovering from the pandemic amid lower cases and reopening in the United States. It's worth noting that with little to no restrictions surrounding the pandemic in Texas, Camber could have an easier time getting back to pre-covid production levels. With all of this in mind, will it make your watchlist in June?
Robinhood Penny Stocks Remain Popular
While finding penny stocks to buy on Robinhood can at times be challenging, there is plenty of value. Locating the highest value is the task that all investors both retail and institutional have to deal with.
[Read More] 4 Robinhood Penny Stocks to Watch in Summer 2021
But, with the right research and information at hand, it can be much easier than previously imagined. Considering all of this, there are plenty of reasons as to why Robinhood penny stocks remain wildly popular. This seems to be true with investors of all types. With this in mind, which penny stocks are you watching in June 2021?
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