Cheap Penny Stocks On Robinhood Are Hard To Come By
Buying penny stocks on Robinhood has become the norm for many traders. Given the appâs easy set-up and clear-cut operating platform, millions of new retail traders have made it their go-to platform. I know thereâve been plenty of concerns, including the lack of transparency from the company itself. Robinhood was also at the center of the debacle when the app restricted trading for specific âshort-squeezeâ stocks on Reddit.
Despite this as the case, plenty of retail traders are using the platform to this day. The sticking point for many is that the app doesnât allow access to over-the-counter or âOTC Penny stocks.â Not all penny stocks on the OTC are shady companies like the Wolf Of Wall Street movie portrayed in all fairness. But the reporting requirements are much laxer than those of the listed exchanges, including the NYSE and Nasdaq.
Are These 5 Energy Penny Stocks Worth Watching This Month?
Over the course of the past year, energy penny stocks have become more popular than usual. To understand why, letâs start back in January of last year. When the pandemic hit, the energy industry and corresponding penny stocks all took a major dive. As the months rolled on, oil and gas demand was low but quickly began to climb.Â
As we all know, energy penny stocks tend to move with the price of oil, gas, and alternative energy as well. A lot also has to do with virus case numbers. If fewer people are getting sick, more people are willing to travel and go to work. This means that the energy demand could increase. So, here we are, around a year after the pandemic began. Now, we slowly see the production of oil begin to creep back up. Additionally, there are a few factors that are affecting the short-term trajectory of the energy industry.Â
Could These Energy Penny Stocks See More Momentum Next Month?
With so much momentum in the stock market right now, energy penny stocks have seen a big boost. Now, this is due to a variety of factors in play as of late January. As we turn the corner into February, retail traders finally realize their influence on the market. This has recently played out with stocks like Gamestop Corp. (NYSE: GME) and others.
But, we also see a great deal of bullish momentum with energy penny stocks. There are a few reasons as to why this is the case. For one, Biden has continued to push efforts regarding green energy in the U.S. This means that renewable energy stocks have seen heightened bullish sentiment since his election. Also, there is a great deal of short term bullish price action regarding companies that work in the fossil fuel sector.
Aemetis Inc. (NASDAQ: AMTX)Vertex Energy Inc.
A few days before the U.S. Presidential Election, shares of Vertex hit new 52-week lows of $0.40. Since then, VTNR stock has held a strong uptrend that has now reached highs of $1.45 this month. Whatâs more, VTNR stock pullback from those highs last week but managed to rebound and close Fridayâs session at $1.28
Vertex focuses on high-quality hydrocarbon products. This includes things like processing used motor oil. Specifically, the company supplies Group II+ and Group III base oils to the lubricant manufacturing industry.
While there havenât been many headlines from the company, industry momentum has helped. What has also become a point of speculation is Vertexâs last earnings report. The company beat EPS estimates by 50% & despite missing sales estimates, Q3 was a growth quarter for the company. In particular, Vertex realized 36% quarter-over-quarter organic growth in direct-used motor oil collections, supported