4 Cheap Penny Stocks To Buy For Under $ 1 On Robinhood & Webull

Are Those Cheap Penny Stocks Worth the Risk?
If you are wondering how to get started in the stock market, penny stocks are one of the things that interests you. While you won’t find the major news organizations reporting on these cheap stocks, you will find a lot of discussion online. Most notably, Reddit has taken center stage when it comes to discussions about penny stocks. It has also become a source of speculation, even for some of the more expensive names in the stock market today. While companies like AMC (NYSE: AMC) and GameStop (NYSE: GME) take the crown among meme stocks, there are still plenty of other stocks to watch out for.
With the hype now becoming a driving force for many actions, it’s also important to understand your risk tolerance. If you are new to trading or have some experience to develop your skills, trading psychology is important. Knowing when it’s time to cut losses in a losing trade or start taking profits in winning trades is key. In addition to this, understanding what drives market dynamics should also play a role.
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In addition to these trading topics, you should also be aware of the price of the penny stocks you are watching. It’s easy to get carried away by the hustle and bustle of the market. But when that excitement shines a spotlight on cheaper stocks like those under $ 1, the volatility is much more pronounced. For example, if you have two penny stocks on your list and 1 is trading at $ 1 while the others are trading at $ 4.50, a few cents could make a big difference to the cheapness of the two. Let’s say the $ 4.50 share drops 10 cents. This is only a change of about 2%. However, if that 1 penny stock drops 10 cents, you are looking at a much larger loss on your position.
Penny Stock Trading Apps Gaining Popularity
This brings me to the topic of today’s article: Penny stocks under $ 1. While most of these will be traded “Over The Counter” or “OTC”, there are still many listed on the major exchanges. When it comes to trading apps that have grown in popularity like Robinhood & Webull, the choices are limited when it comes to stocks under $ 1. This is because both apps (for the most part) only allow access to names listed by NYSE and Nasdaq.
In this article, we’ll take a look at some of the Webull & Robinhood Penny Stocks Under $ 1 at present. Whether or not these are big names to buy is up to you. In any event, most saw a ramp-up around June and could be on the right track. penny stocks list a watch for some high volatility traders right now.
- Producers of sundials (NASDAQ: SNDL)
- Zomedica (NYSE: ZOM)
- Farmmi Inc. (NASDAQ: FAMI)
- Evofem Biosciences (NASDAQ: EVFM)
Popular penny stocks to buy [or avoid] # 1: producers of sundials (NASDAQ: SNDL)
One of the most notorious marijuana penny stocks traders continue to watch is Sundial Growers. The company has raised millions of dollars in the market resulting in great dilutions. In February, Sundial even filed for pre-registration with the Securities and Exchange Commission to issue up to $ 1 billion in securities. However, events like this do not seem to have deterred avid traders from buying shares of the pot stock.
Despite being more than 70% lower from its 2021 high, the year has not been that bad overall. If you look at where SNDL stock was trading at the start of 2021, you’ll see what I mean. Over the past 6 months, stocks have risen more than 100% since the start of the year. Last week was also active for SNDL. Volume surged as stock prices continued to recover from May lows.
From June, there is growing interest in marijuana stocks as mergers and acquisitions intensify. Last week, Hexo Corp. (NYSE: HEXO) announced a C $ 925 million purchase from Redecan, creating a major Canadian recreational cannabis company. You also can’t forget Tilray (NASDAQ: TLRY) acquisition of Aphria or Trulieve (OTC: TCNNF) Harvest Health & Recreation buyout earlier this year.
While only rumors have circulated around SNDL’s actions on this matter, the company has made headlines in recent weeks. In early May, Sundial announced a $ 131 million acquisition of Inner Spirit. The combined company will remain focused on providing quality cannabis to consumers. He takes a âresponsible and disciplined approach,â and with the deal expected to close early in the third quarter, timing played a role. In particular, the agreement gives Sundial access to the Spiritleaf retail network. It became the largest single-brand retailer in Canada with 86 stores and serving 2.3 million customers in 2020.
2. Zomedica (NYSE: ZOM)
The Zomedica share continues to be one of the most Popular penny stocks on Robinhood. On Robinhood’s Top 100 list, ZOM is one of 3 penny stocks under $ 1. While the recent stock market trend has not been as bullish as its âpopularity of Robinhood,â traders remain focused on a few things as summer approaches. Most importantly, Zomedica’s marketing strategy for its recently launched TRUFORMA diagnostic device for animals.
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In his recent first quarter business update, Robert Cohen, CEO of Zomedica, explained that TRUFORMA (R) is ânow in the market and we are expanding our direct sales organization to reach our customers; we are working hard with Qorvo Biotechnologies, our technology partner, to perform additional tests to complement the first three which are currently available to customers; and we have over $ 250 million in cash and cash equivalents to support our marketing efforts and our product and business growth plans. well positioned to succeed. “
The company also hired a vice president of business development to lead its acquisition and licensing efforts. While the company has made efforts to increase its leadership to drive future sales, momentum appears to have recently returned to ZOM’s stock. Plus, despite falling from their 2021 high, stocks are still up over 230% year-to-date. The bigger question now is, how will the company’s marketing strategy perform before the end of the year?

Popular penny stocks to buy [or avoid] # 3: Farmmi Inc. (NASDAQ: FAMI)
Another name on the list of penny stocks under $ 1 on Webull & Robinhood is Farmmi Inc. The mushroom retail company has grown in popularity in recent weeks. Ironically, this came after a huge drop in the share price. In fact, some of the biggest trading volumes came after the FAMI stock fell in April. The crash was credited to Farmmi’s announcement of a $ 42 million bid at a price per share of $ 0.30. Given the massive discount, the market reacted as most expected.
It goes without saying that with new capital on hand, the focus is now on rolling out revenue. Fast forward a few weeks, and Farmmi has already started to close new deals. The company won numerous contracts and also started to set up an agricultural supply chain. According to Farmmi, it plans to invest in companies with storage facilities that could expand its logistics network.
âAt present, the penetration rate of the digital economy in agriculture in China is estimated at only 8%, compared to 36% for industries in China as a whole. The number of rural Internet users exceeded 300 million, while the number of agricultural products sold through the Internet or the supply chain is still low. Compared with other industries, the digitization of agriculture in China is still lagging behind, âthe company said earlier in May.

4. Evofem Biosciences (NASDAQ: EVFM)
Evofem’s shares reflected a similar trend as most of the names on this penny stock list. The biotech company’s price has slid in recent months, but the latest volume trend has shown increased momentum. As a precursor, the shares of Evofem were victims of a negative sentiment linked to the raising of capital.
The company announced a $ 50 million offer at $ 1 as the stock traded above $ 1.20. It came just a few months after EVFM stock took a big hit, following another discounted offer in March. Needless to say, the company’s described use of the products could bring it back to the center of attention right now. Evofem intends to use the net proceeds of the offering for all marketing activities related to Phexxi (R) (lactic acid, citric acid and potassium bitartrate). It is the company’s flagship product as a female contraceptive. Evofem also plans to deploy capital to support its ongoing EVOGUARD Phase 3 clinical trial evaluating EVO100 to prevent chlamydia and gonorrhea in women.
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So, after raising nearly $ 100 million in the past few months, marketing is now in the spotlight. Starting in June, the company will be making a presentation at an upcoming conference which could be of interest to retail traders. Next week, the 8th, Saundra Pelletier, CEO of Evofem, provides an update on the commercialization of Phexxi (R), the phase 3 clinical trial EVO100 and other initiatives underway. Keep this in mind if EVFM stock is on your list right now.

Penny Stocks This Week
This is the first week of the last month of Q2. Given the mixed market trends in May, it will be important to focus on sentiment in general. While I’m sure there will be penny stocks to watch on a daily basis, tracking is essential. If you are a day trader this might not be a goal for you, but anyone is swing trading or even invest in penny stocks should focus on how the stock trades after an initial jump.
Volume is important, just like what companies advertise. Also, don’t forget to make a profit along the way. The last thing you want is to get caught in a collapsing trade thanks to a discounted stock offering or unexpected industry news. Either way, plan accordingly and have a clear strategy before jumping into any trade.
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COMTEX_387611768 / 2685 / 2021-05-31T12: 49: 18
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