3 high-volume Robinhood Penny stocks to watch right now

Penny stocks with high volume can be a great indicator of where the most popular small caps are located. For those unfamiliar with it, volume is the number of shares bought or sold on a given trading day. Often, investors will use this metric as a way to find trending penny stocks, however, there are other uses for this as well.

In addition to seeing how popular a stock is, volume is a direct indicator of a stock’s liquidity. It is basically the speed at which an investor can buy or sell a stock. If the volume is high, trades will proceed quickly and prices will change in small increments. On the other hand, if the volume is low, the transaction may take a while and in the meantime the prices may rise or fall significantly. This is not to say that high volume penny stocks will not be volatile, but rather that price increases will generally be smaller.

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When Robinhood kicks in, we often see even higher volume than usual. This is due to the large number of traders on the platform who tend to buy penny stocks. So, with all of that in mind, let’s take a look at three high volume penny stocks to watch out for on Robinhood right now.

3 Robinhood Penny Stocks To Watch Right Now

1. Chembio Diagnostics Inc. (NASDAQ: CEMI)

2. 1847 Goedeker Inc. (NYSE: GOED)

3. OPKO Health Inc. (NASDAQ: OPK)

Chembio Diagnostics Inc. (NASDAQ: CEMI)

Chembio Diagnostics Inc. is a biotechnology company that creates diagnostic tests used to detect diseases. The company has recently gained attention as it offers test kits for COVID-19. Chembio is also developing diagnostic tests for HIV, Syphilis, Zika and more. Throughout the pandemic, companies working on products for Covid have attracted increased attention from investors. It does make sense, however, there is still interest in these companies as cases continue to rise globally.

Much like many other biotech companies right now, Chembio released its second quarter financial results this month. The company’s total second quarter revenue increased 26% during this period. Total sales of its products reached $ 3.9 million, an increase of 4% year-over-year. Chembio also received a purchase order for HIV tests in Ethiopia for $ 4 million in the second quarter. This is great news for the company and shows that CEMI is working hard to continue to grow at this time. While her Covid testing business is large right now, the orders she has for her other disease tests are also increasing.

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Based on all of these positive results, is CEMI a candidate for your penny stocks to watch list?

1847 Goedeker Inc. (NYSE: GOED)

1847 Goedeker is an e-commerce company that sells home appliances and furniture in the United States. On top of that, the company also sells fitness equipment that has been in high demand throughout the pandemic. Some of its other product offerings include televisions, plumbing fixtures, outdoor appliances, and patio furniture. Over the past six months or so, many consumers have taken extra time at home to start completing home improvement projects. This led to increased demand for home appliances, furniture, and a long list of products offered by 1847.

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On August 12, 1847, Goedeker announced its second quarter results for 2021. During the quarter, the company’s combined proforma revenue increased 43.1% to $ 140.1 million. Its combined pro forma adjusted net income and EBITDA were $ 17.3 million and $ 15.2 million, respectively. These figures are interesting for investors to consider as they illustrate both the growth of 1847 Goedeker as well as the industry in which he works. Additionally, investors can keep an eye on nationwide retail numbers as this could be a solid indicator of where GOED is heading.

With substantial revenue growth, Goedeker benefits from the current state of retail sales in the United States. While it may take a while to reach his annual income goal of $ 1 billion, it looks like he’s on the right track. Based on this new information, will 1847 Goedeker make your list of penny stocks to watch this month?

OPKO Health Inc. (NASDAQ: OPK)

OPK shares are up over 6% as of noon today. OPKO Health is a company that we have discussed frequently over the past year for their sharp price swings despite losing YTD. If you are not familiar, OPKO is a company that produces both diagnostics and pharmaceuticals. Its services are used to diagnose, monitor and treat various diseases. OPKO Health’s main subsidiary, BioReference Laboratories, has been a major achievement for the company since its acquisition.

On August 16, BioReference Laboratories acquired the centralized laboratory prenatal testing business of US Ariosa in Roshe. Ariosa’s Harmony Prenatal Test is one of the most studied tests used in prenatal screening. This test has been performed in over 1.5 million patients to date. With that, BioReference could have another point of value that investors could take a closer look at. And while it may take some time for the revenue from this product to be reflected in BioReferences’ results, it is undoubtedly an exciting prospect.

In view of this exciting news, the progress made by OPK and its subsidiary, the BioReference laboratories, is a major asset for investors. With that in mind, is OPK a competitor for your penny stock watch list?

What Robinhood Penny stocks are you watching right now?

Finding the best Robinhood penny stocks for your watch list can be difficult. However, with the right search tools at your disposal, it can be much easier than previously imagined.

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Since there are hundreds of penny stocks on Robinhood, making this choice will involve a thorough understanding of your own investing style. So, with all of that in mind, what Robinhood actions are you watching right now?