Why would this be one of the penny stocks to watch right now? On May 6th, it released its latest round of earnings results. 3 Penny Stocks That Investors Need to Watch In 2021 This week, Assertio shares broke below $0.50, down about 65% from its 2021 high. Since reaching those highs, the penny stock has been in a free-fall. It rallied to highs of $1.45 from just $0.39 at the start of the year. Similar to ACST, ASRT stock had a strong start to the year. Its portfolio focuses on areas of neurology, hospital, and pain & inflammation.
The company focuses on selling commercial pharmaceuticals. The big point of focus will be on the pending approval of the transaction.Īnother one of the Robinhood penny stocks under $1 is Assertio Holdings. Our board of directors have approved the proposed transaction with Acasti, which is also supported by Grace’s shareholders,” explained Vimal Kavuru, co-founder and chairman of Grace.īased on the timing of this news and the current momentum in the stock market today, ACST could be one of the penny stocks to watch heading into the rest of Q2 and into Q3. “As a result of the merger, we anticipate the combined company will have the financial resources to fund our lead programs to critical value inflection points. So this could be a relatively quick turn-around for such a transaction if approved by shareholders. What’s more, the deal is expected to close in calendar Q3 of this year.
This includes 3 clinical-stage assets that received Orphan Drug Designation from the FDA. According to Acasti, this deal will give the company access to a pipeline of rare and orphan disease programs. One of the main reasons for this stemmed from the news of a definitive agreement to acquire Grace Therapeutics Inc. However, during the premarket, momentum began coming into the stock. Currently, the stock sits around $0.40 as of Thursday’s close. Even though that was only about $1 worth of movement, that equated to a move of more than 500%. The stock rallied as high as $1.22 this year. If you look back at the penny stock in November of 2020, shares were trading under $0.20. Acasti is no stranger to this fluctuation. A change in the price of just a few cents can equate to significant changes in percentage gain or loss.
I’ll preface this with the fact that there are many risks involved with buying penny stocks under $1. Robinhood Penny Stocks To Buy : Acasti Pharma Inc. Will the risk be worth it? That’s something I’ll leave up to you. In this article, we’ll talk about a few that actually can be bought for under $1 on Robinhood right now. However, with this as the backdrop, it hasn’t prevented millions of users from trading cheap stocks on the app. Since these exchanges uphold certain standards, including minimum price levels ($1), it’s difficult to find stocks to trade at lower levels. In light of this, users are limited to trading Nasdaq and NYSE stocks. Penny Stocks To Buy For Under $1 On Robinhood With Robinhood and Webull, for the most part, traders aren’t able to buy penny stocks traded on the OTC. In particular, I’m talking about stocks trading on specific exchanges. One of the downsides of using them is that most restrict access to certain things. While the figures could have picked up as the boom in crypto put eyes on things like Dogecoin, the retail community has remained steadfast in its use of mobile-first trading platforms. Hot Penny Stocks To Buy This Week? 3 That Could Make Your Watchlist Another stat from JMP Securities estimated the amount closer to 23 million. Furthermore, in February, one of the co-founders of Robinhood told members of Congress that the platform had more than 13 million users. If you look at some of the penny stock brokerage growth statistics from last year, you’ll see what I mean. Why Robinhood? It became one of the most popular trading platforms during the pandemic. Some of the more popular groups of these retail traders are Robinhooders actively participating in discussions on places like Twitter and Reddit. This is what I mean by “volatility,” and it is something that has been the source of excitement for plenty of retail traders. But, in general, the lower the price, the higher the level of market fluctuation. Now, there’s obviously more to it than price. Some traders will choose to buy penny stocks closer to the $5 mark, while others like to find more volatility in cheaper stocks. By definition, I’m talking about stocks under $5 per share. If you’re looking for penny stocks to buy right now, you’ve got plenty of choices.