Robinhood Penny Stocks Under $5? Check These 3 Out

Penny Stocks on Robinhood to Watch Under $5

Finding penny stocks on social media sites such as Reddit, can be a useful tool. As we have seen earlier in the past few months, penny stocks on Reddit and Twitter (among others) have seen increased attention throughout 2021. The pandemic-fueled internet surge combined with government stimulus has brought in a wave of new generation investors.

With fast fingers and even faster trading platforms investors can find penny stocks on Robinhood or other new-age brokerages. This has led to larger than usual price movements. The bullish market seen because of this has ushered in the era of penny stocks. Because of its high volatility and lower prices, new-age investors are building watchlists around penny stocks under $5.

While there are several industries of interest, investors are looking at tech penny stocks and biotech penny stocks right now among others. Rapid trends of innovation encourage investors to move quickly in order to claim profits and find the next big thing.

Unlike most slow-moving blue-chip stocks, penny stocks can have large intraday fluctuations, allowing investors in the know to make gains. Because of its potential, it is more important than ever to become well-versed in penny stocks if you are thinking of investing.

When creating a penny stocks watchlist; looking at previous all-time highs and lows can be a useful tool. This lets you know if the stock is overvalued, when it was undervalued, and where might be a good place to buy. Positive and negative news about a company is also a good indicator of where price may go.

However, this takes a credible and fast news source which is not always available. What we aim to do here is break down a few penny stocks to their fundamentals and talk about past price action and recent news. These stocks under $5 may be worth considering for your watchlist.

3 Robinhood Penny Stocks Under $5

Zomedica Corp. (NYSEAMERICAN: ZOM)
Castor Maritime Inc. CTRM
Teligent Inc. TLGT

Zomedica Corp. ZOM

Zomedica Corporation is a veterinary health company that focuses on the discovery, development, and commercialization of pet pharmaceuticals. As our modern world continues to progress so does our empathy for our companion animals. In earlier years it was almost unfathomable to pay for pet health insurance. But, as veterinarian care capabilities improve, many are more inclined to cover the costs of a procedure.

It is widely known that veterinary medicine follows the same trajectory as human medicine. Each year more specialties in vet med, as well as more options for life-improving procedures, arise. Technology has only amplified this surge and Zomedica is taking advantage where it can.

It focuses on the unmet needs of clinical veterinarians and provides products for dogs and cats. The TRUFORMA biosensor they are known for is designed to help practitioners diagnose animals that have complex conditions.

Founded by Gerald L. Solensky Jr., Zomedica was conceived in order to provide veterinarians the opportunity to lower costs, increase productivity, and grow revenue while still fully serving the animals in their care. ZOM is made up of a team of clinical veterinarian professionals that have decades of experience in the field.

On April 15th, 2021, Zomedica recently announced its intentions to expand its direct sales organization and slowly phase out its distributor-based model.

"As TRUFORMA®'s market presence grew, we intended to transition from a distributor-based sales model to a direct sales organization. However, due to anticipated changes at our current distributor that we believe have impacted its ability to market our products effectively, we will be accelerating that transition and the building of a direct sales organization.

While this effort may slow initial sales of TRUFORMA®, we have taken this action now to avoid any disruption to our customers and to provide a stronger foundation on which to build the marketing and sales of both TRUFORMA® and any future products developed or acquired by Zomedica."

CEO of Zomedica Corp. Robert Cohen

With a price share increase this year of over 600%, alongside being near a three-month low, is ZOM a potential candidate to add to your watchlist this month?

Castor Maritime Inc. CTRM

Another penny stock under $5 worth checking out is Castor Maritime Inc (CTRM). Because the trade war is no longer at a tense pinnacle, import and export of goods can finally see some rebound. As a company specializing in growth-oriented global shipping, CTRM falls right in the middle of this issue. With a fleet of seventeen dry bulk and tanker vessels at its disposal, they offer seaborne transportation on worldwide shipping routes as well as a wide range of other products.

Established in Cyrpus in 2016, CTRM is run by CEO / CFO Petros Panagiotidis. With over 5 years of experience in the shipping industry as well as a past in investment banking, Petros's innovation led him to create and grow this shipping company from the ground up. Its recent acquisitions of two vessels on April 16th and April 19th, show how fast CTRM is growing, having bought nine others just in 2021 alone.

Petros Panagiotidis commented, "We are pleased to announce our eleventh vessel acquisition in 2021 with the addition of another Kamsarmax dry bulk vessel, our sixth, to Castor's fleet. Upon completion of all our announced acquisitions, our fleet will consist of seventeen vessels. With significant capital on hand, we continue to look for further opportunities to grow our fleet with the addition of high-quality tonnage."

Its outlook for expansion and strong portfolio makes it a budding shipping empire that may have a place after all. With all this in mind, do you think CTRM should be on your end-of-the-month watchlist moving into May?

Teligent Inc. TLGT

Teligent Inc (TLGT) is a specialty generic pharmaceutical company. Its mission of becoming a leader in the prescription drug market makes this a penny stock worth checking out. With a strategy for growth, termed TICO, they plan to expand sales in the topical, injectable, complex, and ophthalmic markets.

With over 200 employees, its main 33,000 square-foot manufacturing and R&D complex is based in New Jersey. Recently, a plan for expansion of this facility was been announced. This includes adding a sterile injectable, isolator-based manufacturing suite and more production for its topical products. Along with this, they operate in Canada and Estonia as well, making its services internationally known.

TLGT has a strong portfolio of over 35 FDA-approved products that include both injectable and topical prescription medicines. With plans of expansion and new products in the pipeline, TLGT has increased its price per share by 18% this week with no signs of slowing down. Although it is a volatile stock, is TLGT worth adding to the watchlist?