Traders on Robinhood have always been interested in penny stocks. Knowing what they’re looking for may help you make sense of a bad stock. That’s why we’ve compiled this list of the best Robinhood penny stocks. Let’s take a look.
Mogu Inc (MOGU)
MOGU Inc. is a Chinese company that allows people to purchase fashion apparel, beauty products, accessories, and more through its online platform. The range of merchants that MOGU works with provides customers with different options to choose from for personal care, food, and medical items as well as standard fashion apparel.
The company offers its products on mobile apps including the Mogujie app, mini programs on Weixin, and Weixin pay and QQ Wallet entryways; as well as websites comprising Mogu.com, Mogujie.com, and Meilishuo.com. It is currently trading at $2.26 at Robinhood with a market cap of $18.456M. It must be closely watched as it is expected to grow significantly in the coming years as more and more Chinese consumers shift their spending from traditional brick-and-mortar stores to online retailers.
PaxMedica (PXMD)
PaxMedica Inc. (PXMD) is engaged in the business of developing, manufacturing, and commercializing pharmaceutical products primarily for the U.S. market. Its product pipeline includes PAXMIRA, which is in Phase III clinical trial for the treatment of inflammatory bowel disease; and PAXINFANTUM, which is in Phase I/II clinical trial for the treatment of infantile sepsis. Currently, it is trading at $2.51 at Robinhood with a market cap of $ 28.15M.
There are several reasons you might want to consider getting shares in PaxMedica (PXMD). Their treatments are based on cutting-edge stem cell and gene therapy technologies, which could make them a leading player in the $300 billion global healthcare market. Also, their stock is still relatively undervalued compared to some of their peers, making it a good investment opportunity.
Nikola Corp. (NKLA)
Nikola Corp is currently trading at $3.75 at Robinhood, with a market cap of $ 1.356B. The company was once a popular meme stock and focuses on designing and manufacturing zero-emission vehicles and vehicle components. Nikola has two electric semi-trucks, the Nikola One and the Nikola Two, which are currently being tested by major trucking fleets across the United States.
Nikola Corp. (NKLA) is a great investment because it is a leading manufacturer of electric vehicles and components. The company’s products are high quality and have a low environmental impact. Nikola Corp.’s growth potential makes it an attractive investment for the long term. With a strong focus on sustainable transportation solutions, Nikola is well-positioned to capitalize on the growing demand for electric vehicles.
Forza X1, Inc. (FRZA)
The company strives to increase the adoption of sustainable recreational boating through the production of stylish electric sports boats. It creates, implements and sells electric vehicles that use cutting-edge technology to control and power the boat, as well as a proprietary outboard electric motor.
FRZA skyrocketed on its debut day, it rose to $15. It’s already been ripped twice in its ten-day slide. Is it possible that it’s basing? We added FRZA to our watchlist. And as long as it maintains an average of two float rotations per day in daily volume, it will stay on our list.