Hot Penny Stocks To Buy In Robinhood For Under $1 Right Now

    It is already a known fact that Robinhood and other such platforms have helped with prime and easy access to those who are new in retail trading. This is particularly true when one witnesses all of the penny stocks breaking out, thanks to the undeniable retail momentum. Despite some of the limitations of these mobile-first platforms, the quick ability to place trades has lingered on as an attraction. However, there’s one problem. Some stocks cannot be traded on Robinhood. It is imperative to note that access to OTC-penny stocks is restricted. This implies the majority of penny stocks under the price point of $1 are also not within reach.

    Why? Since Robinhood allows access to NYSE NASDAQ– listed names, it also has its requirements. One of these primary requirements is the need to be able to maintain a minimum bid price of $1. Should it happen to fall below that level for far too long a time, there’s that impending risk of getting delisted to the OTC.

    Does this necessarily mean there aren’t penny stocks to buy under $1 on Robinhood? Absolutely not. However, with that, it is imperative to understand that there are added risks in doing the same. Let’s look at four of these cheap penny stocks traded on Robinhood, and you can decide if they’re to be entirely avoided or hot ones to buy. If you enjoy Robinhood’s basic functionality but are looking for a little more substance from your brokerage platform, check Robinhood alternatives.

    Robinhood Penny Stocks to Buy Under $1

    • United States Antimony Corp. (NYSE: UAMY)
    • Waitr Holdings (NASDAQ: WTRH)
    • BIolase Inc. (NASDAQ: BIOL)
    • Sesen Bio Inc. (NASDAQ: SESN)




    Penny Stocks to avoid or Buy – United States Antimony Corporation (NYSE: UAMY)- One of the sought-after areas in the stock market today really, is mining. In particular energy metals and rare earth and taking up most part of the focus. While one might think that the recent rally of volatility has traders looking at silver or gold or its energy that’s pushing the sentiment of it all. US Antimony Corporation essentially specializes in, as you might guess, antimony mining. This is something that is used in a number of industrial applications, more specifically in making batteries. According to the company, China, the primary supplier of antimony and historically also the only supplier of lump antimony trisulfide, has held back the export of the same, leading to an orchestrated potential “worldwide shortage”.

    The company has a wide portfolio of properties across North America. Presently, it’s reviewing these properties to ramp up its efforts and secure new sources of this antimony. US Antimony has simultaneously also discussed that it is actively hosting vital discussions with numerous junior mining companies for potential ongoing partnerships. With growing interest in rare earth and energy metals, UAMY stock has commenced gaining some traction in the stock market right now. Despite trading below the $1 mark, the penny stock is still up by more than 70% on a year-to-date basis.

    Sesen Bio Inc. (NASDAQ: SESN) – Sesen Bio is another such penny stock under $1 on Robinhood. This biotech stock has been at the eye of heavy speculation for quite a number of weeks. The dramatic sell-off that ensued following bad news last month has brought made it a bit iffy for traders. 

    Even with this as the situation, SESN stock has traded some of its highest daily volumes ever since. Meanwhile, this stock has been looked at by some traders as a potentially high-short interest name to know. 

    Biolase Inc. (NASDAQ: BIOL) – Another one of the best penny stocks on Robinhood hovering below that $1 threshold is the company Biolase. BIOL stock is hovering around its 50-day moving average but managing to maintain holding levels above this significant technical level thus far. Despite trading lower than the $1 price point right now, BIOL stock is northbound 60% year-to-date. The major reason for its recent attention is the company’s oral laser devices. Much credit for that goes to its continued novel advancements and reopening efforts in dental technology.

    Waitr Holdings (NASDAQ: WTRH) – Waitr Holdings has been a big winner during the 2020 pandemic. 

    However, this year has been a lot different. As of this month, Waitr Holdings stock is sitting at around 2021 lows as it attempts to recover from the same. Announced last month, Waitr Holdings announced the completion of its acquisition of these companies. Chairman and CEO of the Board of Waitr, Carl Grimstad, explained that the company’s goal is to be able to offer a host of payment services to their partners within the ecosystem, including gift cards, loyalty programs, payment processing, and merchant lending. They view these acquisitions as a vital step in pursuing this strategy and firmly believe this could lead to significant growth for Waitr in the ensuing future.

    Waitr’s core model operates online ordering options for customers and provides carryout, delivery, and dine-in options. Along with Delivery Dude and BiteSquad, the company aims to connect grocery stores and local restaurants to diners in underserved U.S. markets. Now, with its foot at the threshold of merchant processing, will this finally be the much-needed catalysts to affect a turnaround in the market?

    Penny Stocks & Weighing Risk/Reward – When it comes to trading Robinhood stocks to buy i.e penny stocks under $1, risk and reward are something that should come into play. Something worth noting is that we’re not talking about just any type of “cheap stocks” here. We’re talking about penny stocks on Robinhood 2021 and more importantly penny stocks under $1. This concludes that even a deviation of a few pennies can very well equate to a more significant percentage change in the position value of these Robinhood penny stocks.

    If you choose to venture down this path of top penny stocks on Robinhood under $1, make sure you have a clear plan envisaged and your profit/exit levels laid out well in advance. The exciting and risky thing about the above is that at any point in time or at any point in time, they can move explosively and aggressively. In that instance, it’s better to be well-prepared than caught with your hands in your pockets, not ready to capitalize on the situation at hand.

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