Every month we see a change in the list of popular stocks and also find some new faces in the market. Keep in mind that here we will discuss only the best penny stocks of Robinhood. It does not necessarily mean that you should buy these stocks for the investment. It is just for your information and to enhance your knowledge of the stock market.
Before going into details, you must know about the Robinhood trading application. It is one of the most popular platforms, helping traders understand more about stock details. Also, it allows you to trade without paying crazy fees. Here we are going to highlight some of the most popular penny stocks on Robinhood in 2019.
Fitbit Inc | NYSE: FIT
It remained the most popular penny stock on Robinhood in June 2019. However, it showed significant fluctuation in its stock prices during the last few months. That is why we need to mention that these are only available penny stock on Robinhood.
The order of these penny stock does not show priority to the purchasing of these stocks. Also, the Fitbit shares showed a fall in its share prices at the end of June 2019. According to the rough estimate, the company showed a fall of $0.50 to deal with negative sentiments.
Plug Power Inc | NASDAQ: PLUG
PLUG is another accessible and best penny stock of Robinhood. Similar to NIO, PLUG showed a significant fall in its share value during the ending week of June 2019. Roughly, shares showed a fall of 17% in the last of June. However, the company is focusing on fueling cell development and on improving its share values in the market.
Chesapeake Energy Corporation | NYSE: CHK
When talking about the popular penny stocks on Robinhood, Chesapeake Energy becomes prominent. If you are aware of the stock market well, you must be mindful of the fluctuating price of the Chesapeake Energy.
Moreover, its prices showed a rise in May but then started falling to $1.74. However, in June, this penny stock regained its value and showed a bit increase to $1.95 by the end of June 2019. Now, experienced investors expect this penny stock to show more rise in the coming months of 2019.
Nio Inc – ADR | NYSE: NIO
NIO Stock is an excellent penny stock choice. The people who are aware of the stock market must be mindful of its rise and fall during 2019. NIO was showing a considerable increase in its prices for a long time.
However, then suddenly it showed a significant fall in its costs. Despite substantial efforts, NIO stock could not recover the price. There were a lot of reasons for its fall, but the most prominent was mounting competition in China’s EV market.
Still, NIO could not recover its position in the stock market. Due to its fall, many of the traders started selling their shares. Though this was hard for many millennial traders, they had to sell their shares at a low price. Especially those who loved this penny were calling it the next TSLA, but it is not showing any rise in its price.
Moreover, in the last few months of 2019, NIO showed a loss of 20% in the stock market. However, in the future, it is expected that NIO will regain its position with an unbeatable rise.
Groupon Inc Common Stock | NASDAQ: GRPN
Groupon Inc. appears on the fifth number rank amongst all penny stock in the market. This stock also could not show a significant rise in the previous few years. In the year 2019, Groupon Inc. hit the highest rate of $3.75 in June 2019. However, with time, it started showing a fall and showed #3.34 by the end of June 2019. The report of the Chief Product Officer of Groupon, Sarah Butterfass, showed that nearly 20% of all United States’ users buy Groupon Inc. Stock every month.
Though this penny stock is also showing a rise and fall, it is the most preferred penny stock in the market. Since June 25, the share value of Groupon is also rising. Traders expect the stock to cross $4 soon. However, you cannot predict anything regarding the stock market.
Penny Stocks show very rapid growth and fall, and that is why no one can predict anything related to them. In the same month, you will observe a massive rise in its shares and then a rapid fall. If you are investing in Penny stock, hold it for a long time and wait until it shows a high rise in the stock market. Further, if you want to know more about Penny stocks on Robinhood, subscribe to our newsletter.