If you’ve invested in penny stocks or blue chips in the past few months, you likely have seen just how volatile things are. And, today is no different than that time frame. On Tuesday, July 13th, stocks fell with the S&P 500 correcting from a recent all-time high.
Right now, the sentiment seems to be mixed with increased Covid cases and inflationary data showing the highest consumer prices since mid-2008. This inflation was expected, and continues to be the backbone of uncertainty in the stock market.
But as always, penny stocks don’t like to play by the rules. And this means that even in days of overall bearish trading, many on the list of penny stocks, will climb substantially due to one factor or another.
It’s always difficult to predict which these will be, however, with some careful research, it can be much easier to deduce the winners from the losers. And, if we consider that so many traders are buying and selling penny stocks on Robinhood, we add yet another layer of market volatility.
Additionally, with another earnings season occurring right now, we could continue to see bouts of both high gains and corrections across the stock market. So, with all of this in mind, let’s take a look at four penny stocks that are trending on Robinhood right now.4 Robinhood Penny Stocks to Watch Right Now
- Oxbridge Re Holdings Ltd. (NASDAQ: OXBR)
- Farmmi Inc. (NASDAQ: FAMI)
- B2Gold Corp. (NYSE: BTG)
- Ault Global Holdings Inc. (NYSE: DPW)
On July 13th, shares of OXBR stock surged by around 6%, before shooting up by a massive 60% in after-hours trading. This puts Oxbridge right at over the $5 mark, pushing it almost out of penny stocks territory. So, why exactly did OXBR stock shoot up so much today?
Well, the reason is quite clear and came with an announcement a few minutes after the market close. On July 13th, Custodian Ventures LLC, filed a Schedule 13D, announcing an acquisition of almost 10% of the ordinary outstanding shares of OXBR stock.
“We have made a significant investment in Oxbridge Re because we believe the Company presents shareholders an exciting opportunity for meaningful value creation. I look forward to continuing to constructively engage with management and the Board of Directors to actively explore potential strategic options to maximize value for all Oxbridge Re shareholders.”The CEO of Custodian Ventures, David Lazar
It is always big news when an institution takes a sizable hold in a company. But, given that this stake is almost 10%, it makes sense that OXBR stock shot up so much during after hours. While this is mostly a speculative gain, it does indicate institutional bullishness in Oxbridge stock right now. So, whether OXBR deserves a spot on your watchlist is up to you.Farmmi Inc. (NASDAQ: FAMI)
This next penny stock, Farmmi Inc., is a company that we’ve discussed plenty of times in the past few months. For some context, Farmmi processes and sells edible fungi products such as shiitake and mushrooms. Its other products include bamboo fungi, hericium erinaceus, and many others. In addition to this, it exports dried shiitake mushrooms and dried black fungus, which has become a huge market in the past year or so. These products are then sold to stores, restaurants, and distributors worldwide.
At the end of June, the company received a new product export order from Vancouver. This order for Farmmi’s dried black fungus is expected to bring both a new market for Farmmi, and a substantial revenue stream. The CEO Yefang Zhang said, “Our level of customer engagements continues to expand as we add further value with our leading packaging and logistics to ensure product quality, flavor, and minimize costly waste.”
This announcement added to the list of product orders Farmmi has received over the last few months. On the day of July 13th, FAMI stock is up by around 2.5% in the market. Despite some tumultuous price action, many investors are putting a close eye on FAMI stock. Keeping this in mind, will FAMI be on your list of penny stocks to watch?B2Gold Corp. (NYSE: BTG)
Mining penny stocks like B2Gold Corp. have had an interesting year and a half. Many mining stocks reached new record highs in 2020 after the pandemic took hold. Gold and silver reached new price records, which in turn caused many related stocks to do the same. B2Gold Corp. is one of the companies that experienced a lot of this momentum. So, for some context, let’s talk about what B2Gold Corp. does in the mining industry.
B2Gold Corp. is as its name suggests, a gold producer that operates a variety of mines. This includes mining operations in the Philippines, Namibia, and Mali. It has additional Interests in evaluation and exploration assets in other countries as well.
In the past few weeks, B2Gold Corp. has not released any company-specific news. But, it’s worth noting that BTG stock will often move up or down with the price of gold itself. On the day of July 13th, BTG stock increased by 1.27%. On the same day, the price of gold increased by 0.04%. Now, investors are waiting for either the next big announcement from B2Gold Corp. or a large price movement with gold itself. With this in mind, will you be adding BTG to your list of mining penny stocks to watch?Ault Global Holdings Inc. (NYSE: DPW)
Ault Global Holdings Inc. is an industrial penny stock that designs, develops, and manufactures power system solutions. The company then sells these products to those in the medical and military sectors. Its products include power supply products, power conversion, distribution equipment, and much more. These products are sold both independently and through distributors.
On July 13th, Ault released its preliminary second-quarter financial results for 2021. The company reported revenue of $62 million, which is a staggering 1048% increase year over year. Its income before taxes was $44 million compared to a $1.4 million loss the previous year. $300,000 of Ault’s revenue comes from cryptocurrency mining since it resumed operations in March 2021. This massive increase in its revenue is the main reason that shares are moving up right now, and understandably so.
“Our preliminary financial results in the second quarter of 2021 reflect strength of our lending and trading activities at DP Lending, our financial services subsidiary.
We believe our current lending and investing pipeline is strong and if the market conditions for investing in small cap stocks remains strong, the future prospects for the Company are extremely promising. We see strength across all our subsidiaries and expect to allocate additional capital to our lending and investment platform in the third quarter.”Ault’s Founder and Executive Chairman Milton “Todd” Ault, III
By end of day, DPW stock shot up by around 5% and then another 2.5% in after hours July 13th. Considering the above information, will you add DPW to your list of penny stocks to watch?Which Penny Stocks Are on Your Watchlist Right Now?
The best investor will always be the one with the most information on hand, and in the digital age, every trader has access to all the information in the world. So, with this in mind, which penny stocks are on your watchlist right now?