August 2, 2021

6 minutes to read

This story originally appeared on PennyStocks

3 Robinhood Penny Stocks For Your August Watch List

Today, penny stocks and blue chips soared as a new month set in and fears of the new wave of Covid subsided. While the Delta variant is still booming, investors seem confident in the direction of the economy at this time. Today’s moves with penny stocks have been overshadowed by a larger technological gain.

Big names like TSLA stocks and AAPL stocks, pushed higher on market positivity while penny stocks also made decent gains across the board. But as it has been for the past year and a half, a lot depends on what happens with the pandemic in the weeks to come. With cases related to the Delta variant resulting in daily case records in some states, some investors remain cautious about the future.

[Read More] 4 Hot Penny Stocks To Watch As August Turns Bullish

On top of that, the penny stocks on Robinhood are getting a boost following HOOD’s IPO which took place just a few days ago. As always, traders need to keep up to date with all the latest news. This will help you stay ahead of any unexpected price fluctuations in your wallet. With all of that in mind, let’s take a look at three Robinhood penny stocks to watch out for right now.

3 Robinhood Penny Stocks To Watch Right Now

1. Bit Digital Inc. (NASDAQ: BTBT)
2. Cinedigm Corp. (NASDAQ: CIDM)
3. Infinity Pharmaceuticals Inc. (NASDAQ: INFI)

Bit Digital Inc. (NASDAQ: BTBT)

The cryptocurrency has been in the news several times over the past six months or so. Its impressive gains and integration into established financial markets have increased investor confidence in crypto as an asset. Moreover, it paved the way for the success of penny stocks such as Bit Digital.

[Read More] Former biotech Penny Stocks see explosive moves in 2021

For some contexts, BTBT is a New York-based crypto mining company that specializes in Bitcoin mining. Although there are thousands of cryptocurrencies, Bitcoin remains the largest, oldest, and most valuable. Right now, he currently has one of the largest bitcoin miner fleets in the United States, which helps bring attention to BTBT. Recently, BTBT was chosen to be a speaker at Sequire’s Blockchain conference.

“There aren’t many miners listed in the US with our scale, so I appreciated the opportunity to engage with a respected peer. Fred and I had an interesting discussion, which also highlighted some of Bit Digital’s strengths, especially our leadership in sustainability. We would like to thank Ibrahim Al-Husseini, a leading figure in environmental stewardship, for his moderation and for asking thoughtful questions. ”

CEO of Bit Digital, Bryan Bullett

Conferences like these are important for investors because they provide insight into the present and future of the business. It should be noted that BTBT shares are around $ 10, making it more of a penny stock at over $ 5 per share. Over the past month, stocks have climbed about 84%. And what’s even more intriguing is that since July 23, stocks have climbed over 150%, which is pretty big. With the crypto mining industry continuing to gain popularity, BTBT stock might be worth watching.

Cinedigm Corp. (NASDAQ: CIDM)

Another area of ​​the stock market that is currently seeing a lot of potential is the entertainment industry. Due to the impact of Covid, the value of the digital entertainment industry has skyrocketed over the past year and a half. And because of its broad reach, Cinedigm is a big player in the entertainment industry and one that might be worth watching. The company says it has become one of the leaders in transforming the digital entertainment industry in recent years.

His work entertains hundreds of millions of users around the world and focuses on the premium content market. CIDM not only operates in the streaming market, but also provides its technology services to some of the largest technology, media and retail companies in the world.

One of the interesting aspects for investors to consider is its proprietary software, which manages and serves over-the-top (OTT) channels. This platform, known as The Matchpoint Platform Suite, is made up of three components that together provide high value to Cinedigm customers. Working hand in hand, it can provide complete solutions for OTT as well as scaling for video distribution.

As previously reported, due to the pandemic, demand for entertainment has skyrocketed in recent months, which could help explain CIDM’s over 40% gain since early July. Considering all of this and Cinedigm’s role in the industry, is CIDM stock worth adding to your watchlist right now?

Infinity Pharmaceuticals Inc. (NASDAQ: INFI)

One of the biggest winners of the day so far is the INFI stock, which rose around 40% at noon. Over the past five days, that number has climbed to over 80%, which is a pretty big gain. Today’s spike comes after analysts at JP Morgan announced an upward revision to their price target for INFI stock.

Analysts also added an overweight and a price target of $ 6 for Infinity Pharmaceuticals stock. While analyst ratings are important, they will often lead to short-term spikes like the one we saw today. And to better understand what INFI does, let’s take a closer look at the company.

Infinity Pharmaceuticals is a biopharmaceutical company that works on a variety of cancer treatments. Its flagship compound, eganelisib, is currently a top candidate in several studies. In addition to this, he is evaluating a new combination regimen without a checkpoint inhibitor of organelisib in combination with etrumadenant in patients with triple negative breast cancer (TNBC).

[Read More] Are These Penny Stocks Worth Buying? 3 to watch out for after big spikes

Last week, the company announced updated data from Phase 2 of its MARIO-275 trial in the TNBC. In the study, over 86% of patients achieved tumor reduction and over 84% achieved disease control rate. This is very promising and could be another factor contributing to the recent bullish momentum of INFI. So, with all of that in mind, is the INFI action worth adding to your watchlist in August?

What Robinhood Penny stocks are you watching?

Robinhood continuing to gain popularity, many investors are turning to the platform to buy penny stocks. And while not all penny stocks are worth it, with the right research in hand, investors can find the ones that are. Given all of this, which Robinhood penny stocks are you looking at in August 2021?