Penny Stocks On Robinhood That Could Be Worth A Look
One of the most popular trading platforms for penny stocks is Robinhood. Whether you like it or hate it, millions of new traders flocked to the broker in 2020 and 2021. The biggest points of concern have been on the app's trade execution and how the company itself makes money. If you remember, a few months back, Robinhood came under fire as the Securities & Exchange Commission charged the firm with misleading customers.
Documents showed that Robinhood Financial was cited for repeated misstatements that they didn't disclose their own receipt of payment from trading firms. These payments were made for moving customer orders to certain trading firms.
Yet, while the legal battles have raged on, it hasn't stopped new traders from downloading the app and trading penny stocks. One thing that Robinhood traders know is that their access to certain stocks is limited. This mainly entails shares of OTC penny stocks. Due to looser reporting requirements and lower liquidity, these companies tend to carry a bit more risk. Despite this as the case, traders have found plenty of penny stocks on Robinhood under $5 that can be traded. These are typically companies listed on the NYSE and Nasdaq exchanges.
Penny Stocks On Robinhood
Building your list of penny stocks isn't as hard as you might think. But it shouldn't be a situation where you pick the top 10 most active penny stocks and call it a day. Analyze market and stock trends, look for potential catalysts, see if any news was recently released. Also, be on the lookout for filings like 8-Ks, Form 4s, 13Gs, 13Fs, and other types of filings that would suggest a company event. When you're talking about penny stocks on Robinhood, for example, many of these items are readily and easily accessible. In the stock market today, there are several trending names to add to the March 2021 watch list.
- Camber Energy Inc. (NYSE: CEI)
- Torchlight Energy Resources Inc. (NASDAQ: TRCH)
- ENDRA Life Sciences Inc. (NASDAQ: NDRA)
Robinhood Penny Stocks To Buy [or avoid]: Camber Energy Inc.
Energy stocks have been red hot this year and Camber is no different. Since the start of 2021, CEI stock is up over 50% to date and has climbed as much as 219% with February's $3.10 high. Much of the speculative trading has stemmed from the pending combination between Camber and Viking Energy Group Inc (OTC: VKIND). The definitive agreement was announced last month. Camber already owns over 60% of Viking's issued and outstanding common stock.
While no further details have emerged this month, CEI stock appears to have reversed course from its prior multi-week slide. James Doris, CEO of the two companies, stated that "this transaction further strengthens the relationship between Camber and Viking and moves us one step closer toward a full combination of the two entities. Moreover, extinguishing the $18.9 million of debt improves the equity position of both companies. This is a great start to 2021."
So as the market awaits the final details, CEI could be one of the energy penny stocks to watch this month.
Torchlight Energy Resources Inc.
Another one of the energy penny stocks on Robinhood to watch has been Torchlight Energy Resources. It also had gone through a similar trend as Camber in that there was a big move through mid-February, then consolidation to follow. This week, shares of TRCH stock continued the 4-day bounce that started late last week. The energy stock had been pulling back ever since, reaching a high of $4.83. Thanks to the news that its senior secured lender converted its remaining debt, investors got behind the company in kind. However, with the conversion of debt can come dilution. Whether or not this is what we saw during the last few weeks is to be seen.
Similar to Camber, the market is waiting on the outcome of a proposed merger. In this case, it isn't a merger to continue as an oil and gas stock but to a company focused on clean energy. A combination with Metamaterial Inc. (CSE: MMAT) will effectively turn the company "green," so to speak. Metamaterial is a smart materials and photonics company. Its product includes nanoweb, metaAIR, and Glucowise. Green energy technology is one of the segments that the company focuses on. This is another instance where the market awaits an outcome to a proposed merger. This will likely remain a source of speculation and something to keep in mind if TRCH is on your list of penny stocks.
ENDRA Life Sciences Inc.
Another novel biotech penny stock on the scene is ENDRA Life Sciences Inc. The company products Thermo Acoustic Enhanced Ultrasound (TAEUS) based products. This new technology serves to change the way that medical imaging is done. The company reports that its system can produce images at 1/50 the cost of traditional MRIs. Also, its TAEUS product can be used in tandem with the existing 1 million ultrasound systems worldwide. Initially, ENDRA is focused on pushing this system for the measurement of fat in the liver.
Eventually, the company aims to broaden the use of this product. Over the past year, ENDRA has been racking up new U.S. patents for its products. A few weeks ago, it announced its 14th patent, titled "Systems and Methods for Imaging Biological Tissue Structures." All of this seems to be wrapped up in the broader desire to commercialize the TAEUS system. But, to do so, a vast amount of clinical research and approvals are needed.
In December of last year, ENDRA renewed its collaboration agreement with the Healthcare Unit of the General Electric Company. Because GE is a leader in ultrasound imaging, this partnership makes sense for the two. Additionally, ENDRA recently announced a new clinical study partnership with Inselspital University Hospital in Bern, Switzerland. If we use this information, we see that ENDRA is taking two paths to align itself for the future. On the one hand, clinical partnerships are helping to prove its technology to the medical world. On the other hand, patents should help secure its independence in this field as it continues to grow. With this transparent business model in mind, is NDRA a penny stock to watch?
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