Are you interested in making money in stock markets by investing in this year’s top penny stocks but afraid of losing your hard-earned money? Yes, like you, I have also been checking is Robinhood a scam? Is it legit to invest in penny stocks? I’ve decided to create this article to share the Top Ten Cheapest Penny Stocks on Robinhood that can make you a lot of money. The penny stocks that I invest in are all cheap penny stocks at their IPO so there is a very high chance that they will skyrocket with time and make me even richer!
Robinhood will be the best digital trading platform for people who want to trade in the cheapest penny stocks. However, do you know Robinhood is famous for picking the right stock? Over decades of experience, it has built up a sense of what to look for when assessing which stocks are worth buying today. In this article, we’re going to be looking at this list of the top ten cheapest penny stocks on Robinhood in 2022. Penny Stocks, or low-priced stocks, have a long history in the world of investing. However, many investors have been burned by trying to profit off of penny stocks over the years. There are many different reasons for this, but ill get into that later.
The bottom line is: penny stocks carry significant risk when you trade them directly. Even more so than the general stock market. With that said there are a few companies that provide a Penny Stock trading alternative that has a long history of success. So if you’re interested in saving money and earning potentially huge profits from these cheap penny stocks (which can be sold/traded for $0.50-$5 easily sometimes) then keep reading below where I’ll cover the top ten cheapest penny stocks for 2022 on Robinhood.
Penny Stocks on Robinhood
Penny stocks are defined as securities issued by small companies that trade for less than $5 per share. Although some of these stocks trade on large exchanges such as the New York Stock Exchange (NYSE), most penny stocks trade via the Over The Counter Bulletin Board (OTCBB) or on the Pink Sheets. Penny stocks are risky because it is difficult to find reliable information about the company in question. If you are looking for big returns, it is important to know that a majority of penny stock companies go out of business without ever paying out a dividend or having an initial public offering (IPO). Therefore, they are not good long-term investments.
If you want to invest in penny stocks, Robinhood is one of the best brokers around to do it with because it doesn’t charge any commissions or trading fees. You can buy shares of stock with as little as $1 using a feature called fractional share investing.
Robinhood Financial LLC
Robinhood Financial LLC is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. Cryptocurrency trading is offered through an account with Robinhood Crypto. Robinhood Crypto is not a member of FINRA or SIPC. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC insurance. Penny stocks are the cheapest stocks on the stock market.
Penny stocks or micro-cap stocks, nano-cap stocks, small-cap stocks, or OTC stocks, are common shares of small public companies that trade at low prices per share. Robinhood is a trading app that offers free trades of stocks and options. You can buy penny stocks with Robinhood through a cash account or on margin through a Robinhood Gold account. If you’re new to penny stocks, it’s important to understand that they aren’t like regular blue-chip or even small-cap stocks. They can be more easily manipulated by company insiders and promoters and can have less transparency than larger companies. Below we will talk about the new penny stocks that can be purchased on Robinhood in 2022
How to Buy Penny Stocks on Robinhood
Robinhood is a platform that makes it easy for anyone to start investing. It’s perfect if you don’t have much money saved up and want to put away a little bit each month. You don’t need any knowledge about the stock market. It’s a great way to get started learning about how stocks work. Buying penny stocks on Robinhood is very simple and requires no minimum balance, unlike most brokerage accounts. You can buy fractional shares of stocks, which means you can get started with as little as $1 or $5 in your account. If a stock is currently trading at $1.00 and you only have $5 in your Robinhood account, you can buy five shares of that stock. Here are some steps on how to buy penny stocks:
- Open an account with Robinhood, which is free and requires no minimum balance
- Learn about the stock market and how it works.
- Sign up for Robinhood and make sure your phone number is verified for two-factor authentication
- Fund your account with at least $5 so you can invest in fractional shares of penny stocks
- Find penny stocks on Robinhood by searching for the names.
Top Ten Cheapest Penny Stocks on Robinhood in 2022
However, let’s just dive into the top 10 cheapest stocks on Robinhood in 2022. The penny stocks on Robinhood can be quite lucrative investments if you are willing to take the risk. They are extremely volatile, and it’s not uncommon to see a stock lose 50% of its value in a matter of days. Here is a list of the top ten cheapest penny stocks on Robinhood in 2022.
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Agenus Inc. (AGENUS)
Market Cap: $1.624 B
Agenus Inc., a biotechnology company, focuses on the discovery and development of therapies that engage the body’s immune system for patients suffering from cancer and other diseases in the United States and internationally. The company operates through two segments, Oncology and Non-oncology. It offers Retrocyte Display and SECANT yeast display technologies to discover fully human monoclonal antibodies; AGENUS ANTIBODY LIBRARY, a collection of human antibodies; and PhosPhoElute, a phospho-peptide enrichment technology to identify tyrosine phosphorylation sites on proteins. The company also develops a checkpoint modulator (CPM), autologous cell therapy for the treatment of cancer; IOMab-B3, radioimmunotherapy (RIT) for use in hematologic malignancies; and Balstilimab that is in Phase I/II clinical trial for solid tumors. In addition, it is involved in developing Sacituzumab Govitecan, a Phase II clinical trial for solid tumors, Teprotumumab.
Market cap: $16.8 million
Atossa Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel therapeutics and delivery methods for breast cancer and other breast conditions. The company’s lead product candidate is Endoxifen, an oral Endoxifen hydrochloride capsule that is currently being evaluated in two Phase 2 clinical trials for the treatment of ductal carcinoma in situ (DCIS) and invasive lobular carcinoma (ILC). As of Oct. 20, 2021, ATOS shares are trading at $1.27 a share, up nearly 40% over the past three months. The company last reported positive financial results for the second quarter.
Aceto Corporation is one of the top ten cheapest penny stocks on Robinhood in 2022, with shares trading at around $0.50. It is a global leader in the marketing, sale, and distribution of finished dosages, active pharmaceutical ingredients, pharmaceutical intermediates, and specialty chemicals. The company’s products are used by various industries like agricultural, animal health, dietary supplements, food, industrial/specialty chemicals, nutraceuticals, and pharmaceuticals. It has two operating segments that include Global Pharmaceutical and Global Chemicals.
Market cap: $39.87 million
Hudson Technologies is a refrigerant services company that provides multiple services to the HVAC industry, including reclamation and recycling of used refrigerants, on-site retrofit and leak repair, and parts cleaning and filtration. The company was founded in 1989 and has its headquarters in Pearl River, New York. It is also one of the top ten cheapest penny stocks on Robinhood for 2022. HDSN stock is down about 30% over the past year, which makes it a bargain at just 6 times forward earnings estimates despite a lack of revenue growth over the past several years.
The company has been profitable in four straight years thanks to rising demand for its products and services, but profitability has been weaker than expected lately due to competition from other companies that are providing similar products and services at lower prices than what Hudson can deliver. As such, Hudson’s operating margin fell from 7% in 2017 to just 3% last year. However, Hudson’s net profit margin improved in 2020 as the company focused on cutting costs through various expense reductions.
APP is a high-risk trade. The company has been in bankruptcy court, and one of its largest shareholders has turned on the company. APP is trading at an absurdly low price and it’s not because of fundamentals. It’s because the market hates bankruptcy cases (rightfully so) and doesn’t trust the company to survive another trip to court. The company just reported earnings this week, and they didn’t look too bad from a macro perspective. However, investors aren’t buying it due to the aforementioned reasons.
APP is down nearly 50% since late March when it was at $4.50 for a brief time before collapsing down to current levels of around $2.40. My best guess on APP is that investors will start buying into the stock if it can hold above $3 for an extended period. If you’re looking at buying this stock, I recommend waiting until it’s above $3.80 to minimize your downside risk. If you want to get some upside exposure while risking very little, put in limit buy orders between $2 and $2.50, with a limit price of $3, and just let them sit there for a couple of months until they get executed or expire after 60 days.
BiondVax is a biopharmaceutical company based in Israel. It focuses on developing and commercializing the M-001 universal flu vaccine. The company currently has a market cap of $73.56 million, with 18.1 million shares outstanding and a float of 16.4 million shares. Over the past year, BiondVax has traded between $0.47 and $3.62 per share. At the end of trading on February 19, its stock was trading at $0.75 per share, down 8% from its previous close of $0.82 per share. Its 52-week low is just above where it was trading today, while its 52-week high is well above that mark.
That’s impressive for any penny stock. However, it is even more so for one that has lost nearly 60% of its value over the past year! The reason behind this huge drop in price is that BiondVax reported disappointing results in late September 2020 for its universal flu vaccine candidate M-001. Those results fell short of expectations, leading to a big selloff in the stock that day, as well as over the next few
Ashley Furniture Industries Inc was founded in 1945 in Chicago. They sell home furniture and decor through several retail stores across the world. ASHLEY’s stock price is currently trading at $2.43 per share with a market capitalization of 1 billion USD. You can trade ASHLEY stock on the New York Stock Exchange (NYSE). We found that one of the penny stocks to buy this week was Ashley Furniture Industries Inc (ASHLEY). ASHLEY is an international home furnishings manufacturer and retailer based in Arcadia, Wisconsin, with revenues of $4.7 billion in 2017.
ASHLEY was Founded in 1945 by Carlyle Weinberger, the company has a reputation for quality and value. Ashley Furniture began its national expansion in 1992 and grew to be the top furniture manufacturer and retailer in the U.S. Today, Ashley Furniture Industries operates more than 600 stores worldwide and employs more than 22,000 people. In addition to its namesake brand, ASHLEY also owns Millennium, Signature Design by Ashley, Benchcraft, Sierra Sleep by Ashley, and other brands. ASHLEY sells its furniture through independent dealers and licensees as well as retail stores located throughout North America, Japan, Taiwan, Hong Kong, and other countries.
Market cap: $1.5 million
Beads and Things is a Colorado-based retailer that sells beads, jewelry, handbags, tools, and other accessories. The company’s products are sold primarily through its website. As a result of the COVID-19 pandemic, Beads and Things has seen its sales decline sharply. For 2020, the company reported that it generated $2.8 million in revenue, which represents a drop of nearly 50% from 2019. Despite this decline in sales, the company has managed to turn a profit in two consecutive years. In 2019, Beads and Things recorded earnings per share of $0.66, before posting EPS of $0.37 for 2020. The company was started by CEO Regina Kamerling Hamel in 1975 as Beads and More in Ft. Collins, Colorado. She has been the company’s CEO since 2004 and owns approximately 38% of the outstanding shares of stock.
Priceline is an up-and-coming blockchain company that focuses on cryptocurrency exchange and trading services. The company is based in New York City and was founded in early 2017. Since then, it has become one of the most popular cryptocurrency exchanges in the world. On average, Priceline sees over 15 million trades each week. One of the most attractive features of Priceline is its low fees. The company does not charge any fees for deposits or withdrawals from your account. It also does not charge any fees for trading cryptocurrency with other users on its platform. This allows you to save money by using Priceline instead of other exchanges that do have fees associated with them.
Black Diamond Group Ltd (BDIMF) is a Canadian-based workforce accommodation solutions company that operates across Canada, the United States, and Australia. The Company’s core service offerings include accommodations solutions, industrial services, and remote workforce logistical support. Its customers are primarily in oil and gas, construction, mining, and power. The Company operates two reportable segments: Accommodations Solutions and Workforce Logistics. Generally, as oil prices drop, the demand for the Company’s services decreases as well.
The stock has been on a downtrend since February 2018 when it was trading around $2 per share. It has since dropped to its current price of $0.85 per share which is down more than 60% from its 52-week high of $2.25 per share in August 2019. The stock has struggled to recover since then despite crude prices rising over the past year or so. The stock has seen some interest in recent days with over 1 million shares traded over the past three days compared to an average daily volume of around 200K shares showing that Robinhood investors have started to take notice of this cheap penny stock.
Conclusion
In conclusion, these ten penny stocks are great for beginners and experienced stock traders alike. These are long-term investments so you do not have to worry about any short-term problems with the market crashing on you. These companies will not just be around in 2022, but years beyond 2022 along with your portfolios from their massive investing potential. Pennystockpicks.com shares the best penny stock investments for 2018 out of all financial review sites that provide advice on stocks to buy under $2 per share. We recommend Robinhood in particular due to its discounted low-cost trading and its easy-to-use interface.
I used to care about finding cheap penny stocks that were under $1, but I started to realize that many of them were just frauds that would go bust. Now, I believe the smarter strategy is: to find a good company that is not very well known yet but is poised for growth in the future. That way you can avoid the scams and still reap the rewards by selling your stocks before they skyrocket in price.
Frequently Asked Questions FAQ
What are Penny Stocks?
Penny stocks are commonly defined as low-priced (below $5), speculative securities trading outside of the major market exchanges. The lack of liquidity in these stocks often leads to large price moves in either direction, which is why so many investors are attracted to the idea of buying penny stocks. With a large price move in a single day, an investor could make a significant return on their investment.
What is Robinhood?
Robinhood is an investing app for people who want to trade stocks and options for free. Robinhood also lets you trade cryptocurrencies like Bitcoin and Ethereum as well as U.S.-listed foreign stocks.
How to Buy Penny Stocks on Robinhood?
Buying penny stocks on Robinhood is just like buying any other stock, except that you have access to all the penny stocks that may not be available on other brokers’ platforms. You can search for any stock by name or ticker symbol – just make sure the ticker ends in. OTC or. PK (these are the symbols used for over-the-counter traded stocks).
Are Penny Stocks a Good Investment?
Penny stocks are sometimes seen as a way for investors to make big profits, but they can also lead to big losses. It’s important to remember that not all penny stocks will be winners.
Why invest in penny stocks?
Many investors buy penny stocks believing they have the potential to earn big returns quickly. Penny stocks are generally considered speculative investments because of their lack of liquidity, large bid-ask spreads and limited following and disclosure.
Is Robinhood good for penny stocks?
Robinhood is a good platform for beginners who want to trade stocks and other securities. The commission-free trading app allows users to trade individual stocks, ETFs, and options without paying commissions or fees per trade. In contrast, its competitors like Webull and M1 Finance charge no commission fees but do require a minimum balance or funding level to get started — something that can be off-putting for new investors.
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