On the Robinhood mobile trading platform, penny stocks trade for $4 or less. Since penny stocks are cheap, day traders should expect to make money. Penny stocks are becoming increasingly popular among day traders; nonetheless, regular childcare is required.
Traders on the Robinhood platform benefit from having no commissions, and they can trade 100% free of charge. The aforementioned penny stocks are illiquid since they are rarely traded, and as a result, are vulnerable to volatility.
Best Robinhood Penny Stocks to Trade (NASDAQ:GPRO)
GoPro stock has increased 60% since mid-March. The corporation made a financial guidance pull following the COVID-19 epidemic. In addition, the company is decreasing its personnel by 20% and transforming to a direct-to-consumer business model it hopes will help it succeed. COVID-19’s restriction has left many people across the globe at home, where they are unable to move.
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According to Q1 projections, the business sold approximately 700,000 cameras short of its predicted 850,000 to 900,000 shipment goal. Projected revenue is projected to fall short of the projection range of $140 million to $160 million. Adjusted EPS loss will be $0.30.
Best Robinhood Penny Stocks to Trade: Vislink Technologies Inc. (NASDAQ:VISL)
Vislink Technologies shares have risen by 75% over the previous week. The firm is responsible for product and solution development and distribution. The company has been dominating the business for over 50 years, bringing out the best goods and providing on-demand access to a number of remote locations across the globe.
Vislink recently reported that it had secured an order for $180,000 to deploy satellite communication equipment in Asia. Satcom solutions Vislink has developed have gained significant popularity in many international markets. The Satcom system enables reliable, quick, and secure communications to clients in difficult locations where no infrastructure is present. The company’s product portfolio encompasses a variety of mobile solutions that increase performance and provide more bandwidth.
Best Robinhood Penny Stocks to Trade: Verastem Inc. (NASDAQ:VSTM)
Verastem’s shares plummeted 40% on Monday after it disclosed findings from its trial about an RAF/MEK inhibitor in combination with FAK inhibitor. Data on the ongoing Phase 1 investigation for VS-6766, an RAF/MEK inhibitor paired with defactinib, on patients with KRAS-mutated solid tumours, was announced by the company.
Four out of six patients with low-grade serous ovarian cancer saw a response rate of 67% in total. When it comes to lung cancer, however, only one patient had a partial response and eight others had disease control. About 70% maintained receiving the medication for 12 weeks, whereas about 30% continued for 24 weeks. VS-6766 monotherapy with defactinib achieved an ORR of 57% in KRAS non-small cell lung cancer.
CONCLUSION
Penny stocks can bring in an impressive amount of money for day traders. Nonetheless, keep in mind that these stocks are prone to turbulent markets, and you may lose your investment.