Top 10 Penny Stocks On Robinhood To Watch For October 2019
What Are The Top 10 Robinhood Penny Stocks For October?
This has been a mainstay feature on PennyStocks.com since going live earlier this year. The Top 10 Penny Stocks On Robinhood for the month continue to shift. However, if you’ve been a long-time reader, you have come to know the top 3 have held strong. This is especially true for the #1 penny stock on Robinhood since June: FitBit (FIT). But that actually changed this month as you’ll see.A Brief History Of “Penny Stocks On Robinhood” Articles:
The Top 10 Penny Stocks On Robinhood To Watch For August
Top 10 Penny Stocks On Robinhood To Watch For September
When it comes to the Robinhood trading app itself, it’s a popular penny stock trading app among millennials. In fact, it’s actually changing the landscape for trading and investing in a MAJOR way.
10 Most Popular Penny Stocks On Robinhood This Month
Look at the news lately and you’ll see that some of the top penny stock brokers are switching things up to a no-fee model. Some are nixing fees across the board, others are solely focusing on stocks (vs options or other investment vehicles).Could this pose a risk for Robinhood? Quite possibly, yes. But with a strong userbase, I don’t think the Top Penny Stocks On Robinhood article is going to come to an end anytime soon. Anyway, if you’re new to penny stocks, let’s give you a quick refresh.
Keep in mind that this list of penny stocks covers the most popular penny stocks on Robinhood heading into October. These aren’t necessarily the best penny stocks on Robinhood. Popularity is defined on Robinhood as stocks that are held by most users on the platform as you see in the image above. So, without further ado, let’s dive into the top Robinhood penny stocks heading into October:
Penny Stocks On Robinhood #10 Nokia (NOK)
This penny stock comes and goes off this top ten list. Nokia (NOK – Stock Report) generally trades in a range between $5 and $5.50. But recently NOK stock has found itself well-within penny stock territory. At one point in time this year Nokia was trading north of $6.60.Needless to say, Nokia has been waiting in the shadows. But reading a bit further, the company has been ramping up efforts to take on the “5G wave.” Later in September, the company opened a new 5G Future X Lab at Finland headquarters.
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It’s offering a new customer showcase for the technology’s rollout. Furthermore, Nokia also completed the “world’s first single-carrier terabit-per-second field trial,” and set an optical transmission capacity record over Etisalat’s fiber network in UAE. If anything, NOK stock may be one to watch if 5G is of interest. And with earnings slated for later this month, speculation may play a role.
Penny Stocks On Robinhood #9 Corbus Pharmaceuticals (CRBP)
This is a newcomer to the list of popular penny stocks on Robinhood. Corbus Pharmaceuticals (CRBP – Stock Report) is known for being one of the pot stocks to watch in 2019. However, the last few months haven’t been a “high” for this penny stock.Even so, Corbus has persevered with its business model. In fact, the company will be presenting three abstracts at the American College of Rheumatology 2019 Annual Meeting being held November 8-13, 2019.
Though that is several weeks away, it gives something to look forward to in terms of the market. The poster presentations focus on Lenabasum. This is the company’s cannabinoid receptor therapy targeting inflammation and fibrosis.
Penny Stocks On Robinhood #8 Groupon (GRPN)
One of the long-standing penny stocks on this list for Robinhood, Groupon (GRPN – Stock Report) is sitting at #8 this month. The company hit a snag in late July/early August after reporting less than stellar earnings for the quarter. But recent speculation has shares of GRPN stock trading a bit higher. First, the company is exploring options for making hotel booking easier. It’s doing this with companies like DerbySoft which connects travel suppliers and distributors.“Partnering with DerbySoft furthers our goal of making experiential travel more accessible and bookable for consumers.”
Louisa Balach, North America general manager of Groupon Getaways
However, Arounian expects that a deal could “generate revenue and cost synergies and create a combined entity that is in a better position to compete against digital advertising giants like Google.”
Penny Stocks On Robinhood #7 Nio (NIO)
Oh what a storied year Nio (NIO – Stock Report) had so far in 2019. This penny stock once traded at highs of $10.64. But as soon as things started looking shaky, we actually posed the question, “Will Nio Become A Penny Stock?” Well, we got our answer and (unfortunately) so did NIO stock longs. A far cry from $10, NIO now trades below $2. As of October 4, the stock closed at $1.62.Read More On Penny Stocks
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On every other fundamental, NIO dramatically disappointed. Despite this, NIO stock remains a heavy holding for Robinhood users. At last glance, more than 90,000 users have it as part of a portfolio. Is there hope? With the company looking to clip nonperforming factors including workforce, we’ll see what happens in 2020:
“We target to reduce our global headcount to be around 7,800 by the end of the third quarter from over 9,900 in January 2019, and aim to further pursue a leaner operation through additional restructuring and spinning off some non-core businesses by year end.”
Penny Stocks On Robinhood #6 Chesapeake Energy (CHK)
One of the penny stocks we’ve watched over the years has been more “range-bound” than bullish in my opinion. Chesapeake Energy (CHK – Stock Report) hasn’t been the best performing stock of 2019 for investors.What also hasn’t helped Chesapeake has been the new financing that the company conducted. just a few weeks ago the company issued new senior notes and convertible preferred stock.
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“We had an opportunity to partner with a large, multi-asset investment manager who believes in the long-term value of our common shares and, in doing so, retired a portion of our debt and preferred stock at a significant discount to its par value and reduced our annual interest and preferred dividend payments by approximately $35 million.”That translates into the potential for further market dilution. But how much exactly? The company issued a total of 250.7 million shares of common stock; not a small figure at all.
CEO, Doug Lawler
Penny Stocks On Robinhood #5 Plug Power (PLUG)
One of the more popular penny stocks on the list, Plug Power (PLUG – Stock Report) has been a frequent mention over the last few months. The stock started off the year at $1.24 and now trades above $2.40. Thanks to some fancy footwork and streamlined business opps, PLUG stock has been pushed by a relatively bullish market sentiment for most of 2019.The main driver for Plug has been manufacturing hydrogen fuel cells to power forklifts in warehouses and distribution centers. These fuel cells are an alternative to lead-acid batteries and Plug has shipped more than 28,000 fuel cells to dozens of warehouse customers.
These customers include the likes of Amazon and Walmart. Furthermore, the company has become the world’s biggest user of liquid hydrogen. With 20 tons used daily, that’s even more than NASA and Plug aims to further surpass this figure as its customer base grows.
Penny Stocks On Robinhood #4 Hexo Corp (HEXO)
A favorite among pot stock investors, Hexo Corp (HEXO – Stock Report) joins the list of penny stocks on Robinhood for a 3rd consecutive month. This time at #4, slipping from #3 in August and September, HEXO stock has tried to battle back. It hasn’t helped that most marijuana stocks have slumped over the last few months. However, Hexo continues to push forward with its business model in the meantime.Not only has the company attracted attention from new analysts, but it has also been recognized by top industry leaders. First, MKM Partners initiated coverage on the marijuana stock with a Buy rating issued in late September. Additionally, its very own Master Grower, Agnes Kwasniewska, was named the first-ever Master Grower of the Year at the Grow Up Conference and Expo Awards.
She was previously named to BotaniQ’s Power 10 of the Canadian Cannabis Industry list for the best cultivator. Will this become a top pot stock to watch in the 4th quarter?
Penny Stocks On Robinhood #3 GoPro (GPRO)
Another penny stock on the Robinhood penny stocks list for a 3rd consecutive month, GoPro (GPRO – Stock Report). Though this stock has seen its bullish moves and a bit of promise, GPRO stock is starting October back in penny stock territory. Speculative buying earlier in September helped push this penny stock from $3.62 to $5.79. But that came to a screeching halt last week.[Related] Penny Stocks To Buy Or Sell: GoPro Inc (GPRO)
Well, on the surface, it appears earnings guidance is the main culprit. The camera company cut its revenue and profit forecasts for the rest of the year. The reason for the cut appeared to be based on a delay in the production of its latest Hero8 Black cameras. With every new release, the company has come up a bit short based on no major differences in cameras. But of course, a delay will put up an even bigger hurdle.
Something else to keep in mind is insider trading activity. We discuss this a lot on the site and though there hasn’t been much recently, look at what’s happened so far this year: All selling. Nevertheless, we’ll see what the rest of the year holds for GPRO stock. As of now, more than 200,000 Robinhood users have it in a portfolio.
Penny Stocks On Robinhood #2 Fitbit (FIT)
Well, it finally happened. Fitbit (FIT – Stock Report) has held the top spot on this list for months. Now it has been dethroned. But unlike most months, FIT stock is in a much brighter light. Where most months, FIT has been lagging, heading into October, FIT stock appears more bullish than previous months.On top of this the company further expanded on its dealflow with an agreement with FibriCheck. It is a health screening and monitoring app. Through the partnership, certain users in Europe will be able to monitor heart-related data from the Fitbit smartwatch. This is obviously a direct action at Apple’s (AAPL Stock Report) technology.
“Our partnership with FibriCheck expands on this vision by offering an accessible way for people to detect irregular heart rhythms using their Fitbit smartwatch, helping them to potentially identify and monitor heart conditions like atrial fibrillation,” said Nicola Maxwell, Director of Health Solutions & Services, EMEA for Fitbit.
Penny Stocks On Robinhood #1 Aurora Cannabis (ACB)
Well, the new sheriff in town on this Top 10 Robinhood Stocks list, Aurora Cannabis (ACB – Stock Report). We haven’t seen this pot stock in the penny stock rankings based on price. But it has been hovering within striking distance since August. Thanks to the decline in pot stocks last quarter, we find shares of the most popular marijuana stock on Robinhood trading within penny stock territory.“The Aurora team is working to advance several major strategic initiatives in Canada, the United States and abroad aimed at further strengthening Aurora’s global position. We are laser-focused on delivering on our business plan and prudently managing our investors’ capital.”Despite missing its own expectations, Aurora continues to be a top cannabis industry name. Furthermore, the 4th quarter will see “first-ever” cultivation from projects that were in process during prior quarters. While over 530,000 users have this in Robinhood portfolios, will ACB stock be on your list of pot penny stocks this year?
Terry Booth, CEO of Aurora
Top 10 Robinhood Penny Stocks For October 2019
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