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3 Robinhood Penny Stocks To Watch In October $NIO $GPRO $CFMS

When investing in penny stocks, keep in mind that while these cheap stocks can generate handsome gains, they are extremely volatile. The volatility can often result in large falls within a short period of time as they can gains. So, be aware of the sort of penny stocks that you put on your watch list.
If you hadn’t heard the news, it may be getting easier to buy penny stocks without huge fees. Penny stocks on Robinhood was one of the only ways to buy cheap stocks without trading fees. But this week, that changed once again. Now, Charles Schwab and TD Ameritrade join Robinhood offering feeless trading on some or all of their products.

buy penny stocks on robinhood
Regardless, this push from Robinhood, in the beginning, has penny stock investors paying close attention to perks of using each platform. Just like equities themselves, an investor needs to do a lot of research on the best brokers too. By doing so, it can help factor in which platform has the penny stocks to buy. Here is a look at three penny stocks to watch.

Robinhood Penny Stocks To Watch #1 Nio Inc. (NIO)

The first on this list of penny stocks to watch on Robinhood, Chinese electric vehicle manufacturer Nio Inc (NIO Stock Report). NIO stock has completely collapsed over the past two weeks. That’s in addition to the steady decline from earlier in the quarter. Much of the decline is due to NIO’s second-quarter results. During that period, NIO stock has nosedived by as much as 55%. Earlier this week, a research note suggested that the pain might not be over for the company.

Read More
Top 10 Penny Stocks On Robinhood To Watch For September
Penny Stocks To Buy Or Sell: Nio Inc. (NIO)

As a matter of fact, the stock is currently down by as much as 85% from its IPO price. The cash burn of $630 million in Q2 2019 has depleted the cash pile significantly and as of June 30, the company has $503.4 million in hand. So, there are now genuine fears that the NIO might find itself out of cash very soon. Needless to say, shares of Nio have recovered strong on Wednesday. Whether this is a relief rally or just a technical reversal is still yet to be seen.

penny stocks to watch NIO October 2019

Robinhood Penny Stocks To Watch #2 GoPro (GPRO)

On the other hand, action camera manufacturer GoPro Inc (GPRO Stock Report) has had a resurgence of sorts over the course of the last month and the stock is up by as much as 40% during the period in question. After having gone through a prolonged slump, the stocked enjoyed a sustained rally after it announced the launch of two new cameras camera and they are going to go on sale during the festive season.

[Read More] Penny Stocks To Buy Or Sell: GoPro Inc (GPRO)

The two cameras are HERO Max priced at $499 and Hero 8 Black priced at $399. The market expects these products to do well and the stock is surging. On Monday, it went up by 11%. However, over the last 24 hours, temperatures cooled a bit as GPRO stock retreated back below $5 at one point. Can this penny stock continue its rally or will shareholders take a picture of these highs as a memory to look back on?

penny stocks to watch GPRO October 2019

Robinhood Penny Stocks To Watch #3 ConforMIS (CFMS)

Medical technology company ConforMIS Inc (CFMS Stock Report) enjoyed a surge of as much as 19% on Tuesday. It emerged that the company entered into a lucrative agreement with Stryker Corporation. Stryker is one of the world’s foremost medical technology companies.
According to the terms of the deal, Conformis is going to both sell and license its products to Stryker. Conformis is going to be paid $14 million by Stryker straightaway and stands to be paid $16 million more if certain targets are met. It is a significant deal and one that could be a key focus for the market.

penny stocks to watch CFMS October 2019


* This article was originally published here

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