Sure, were the epic rallies of GME and AMC stock impressive? Of course, and whenever stocks run from $4 to over $400 within a matter of months, people notice. The important thing to understand is that when you’re talking about cheap stocks like these, they don’t need to jump hundreds of dollars to offer massive returns. Thanks to big breakouts in stocks like AMC, GME, and, most recently, CEI, traders are getting a taste of just what penny stocks are capable of. Making money with penny stocks is something that has influenced millions of traders around the world. He has been writing for InvestorPlace since 2019.Are These Cheap Penny Stocks To Buy Or Avoid?
The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.Ĭhris Markoch is a freelance financial copywriter who has been covering the market for seven years. On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. And although the stock is lightly covered by analysts, the two analysts give it a buy rating with a consensus price target of $1.75 that would be a gain of over 86% from its current price. This will allow the company to use Google’s WebSearch Service and AdSense For Search on select websites.Īlthough INUV stock didn’t hold that move over $1, it is still up 100% in 2021. In late February, Inuvo announced an agreement between subsidiary Vertro and Alphabet’s Google (NASDAQ: GOOGL). The patented technology provides brands the ability to reach incremental audiences generating more high-quality leads. This company delivers AI-driven commerce solutions through its IntentKey, a programmatic media solution powered by patented AI-generated proprietary audience data. The last of the Robinhood stocks to make my list is Inuvo, a play on the artificial intelligence (AI) sector. If the company is successful in obtaining the necessary permits, the AAU stock price and market cap would likely move significantly higher, which would offset potentially high CAPEX spending. Almaden currently has a market cap of approximately $69 million. And while a negative ruling wouldn’t necessarily be a fatal blow to the project, it would delay development for many years.Īnalysts suggest that Almaden could earn an after-tax net present value (NPV) of 5%, which works out to over $800 million. A decision isn’t expected until late 2022 or even into 2023. And the math of the Ixtaca project is very favorable given the current price of metals.Ĭurrently the project is bogged down in legal issues that are delaying Almaden from receiving a permit. With mining stocks it’s all about the math. The bullish case for AAU stock comes down to its ability to successfully launch its Ixtaca project in Mexico. The first of our Robinhood stocks is a Canadian mining stock, Almaden Minerals. Nevertheless, if you have some room in your portfolio for a little gambling, you can make money in penny stocks that are in line with existing trends. Penny stocks remain one of the most speculative asset classes. Superior Drilling Products (NYSEMKT: SDPI).
With that in mind, here are 7 trend-worthy Robinhood stocks that investors can buy for less than $1.
And while there have been some notable companies that started off as penny stocks, many penny stocks are penny stocks for a reason. These are typically small-cap or even micro-cap companies that are hoping investors will buy into their potential. However, the original meaning of the term was referring to stocks that you could buy for less than a dollar and often for significantly less than that (i.e., for pennies). Nowadays, it generally means stocks that can be purchased for under $5. The definition of a penny stock has changed greatly over the years. But the trading app has also raised the profile of many penny stocks, not just those well-beloved by the Reddit crowd. When it comes to Robinhood stocks, investors are liable to think of those “meme” stocks that remain an ongoing phenomenon. Editor’s note: This article was updated on July 8 to correct the spelling of Oragenics.
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