Trading penny stocks and blue chips in 2021 is unlike any other time. With the pandemic hanging around, high market volatility, and uncertainty about the future, there are a lot of unknowns about the next six months or so. And as a result, many investors have decided to find penny stocks that could benefit in the short term.
In September, this includes industries such as energy stocks, mining stocks, and more. But, in order to make money with penny stocks, it’s best to think outside of the box. This will allow you to align your strategy with areas of the stock market that could rise or fall based on news and speculation.[Read More] Best Energy Penny Stocks to Buy Under $4? 3 For Your Watchlist
And with all stocks and penny stocks, in particular, speculation is a major aspect to consider. When we factor in the effects of Robinhood, we see that this speculation can be even greater than before. But, Robinhood has also presented a lot of opportunities for investors of all types.
As mentioned earlier, the largest impacting factor on the stock market right now is Covid. But, this is not something to be afraid of. Rather, it is something that could be used as an advantage depending on your level of expertise as a trader. So, considering all of this, do you think that these Robinhood penny stocks are worth watching?3 Penny Stocks To Watch on Robinhood Right Now
- Harmony Gold Mining Company Limited (NYSE: HMY)
- Ault Global Holdings Inc. (NYSE: DPW)
- New Gold Inc. (NYSE: NGD)
Harmony Gold Mining Company Limited is a mining penny stock that has climbed by around 6% in the past five days. This company mines for gold in a variety of locations around the world. Harmony is involved in the exploration, extraction, and processing of gold, silver, copper, uranium, and more. The company has operations in South Africa and Papua New Guinea. While many companies that mine gold only stick to the shiny yellow compound, Harmony Gold Mining presents a more diversified play for investors to consider.
Back in August, Harmony released a trading statement and operating update for the year ending June 30th, 2021. There were a lot of positive results from Harmony that were announced in this update. For one, the company experienced a large increase in earnings and revenue. Harmony additionally had a higher reported translation gain on its U.S. dollar-denominated debt year over year. These are both encouraging signs and should be viewed as such.
It’s worth noting that HMY and the majority of gold stocks, tend to move up and down with the price and demand for gold. This makes sense, however, it is something that many investors forget to consider. When investing in mining stocks, it is important to look at the overall sector. For example, if gold experiences a shortage, it will likely impact the price of HMY stock. With increased momentum in the past few days, many traders are watching HMY stock right now. Considering this, will it make your list of penny stocks to watch?Ault Global Holdings Inc. (NYSE: DPW)
Ault Global Holdings Inc. is a company with operations in a wide variety of industries. In the past twelve months, shares of DPW stock have increased by over 40%, which is quite substantial. For some added context, Ault designs, develops, and manufactures power system solutions. The company sells these products to those in the medical and military sectors among others. Its products include power supply products, power conversion, and distribution equipment, and much more.[Read More] Making a List of Penny Stocks to Buy? Check These 3 Out in September
On September 14th, the company took delivery of 1,000 S19j pro-Bitcoin antminers. These miners will be deployed promptly according to the company. The deployment of these antminers will take place starting this month, and is expected to be completed by October 15th, 2021. This is a big deal for the company as it takes a major step into the cryptocurrency industry. And while this is not necessarily Ault’s forte, it could be a smart move if all goes according to plan.
“We commend our team on the initial 30,000 square foot buildout of the Data Center to accommodate the new Antminers. I’m pleased with the progress achieved to lay the groundwork for our renewed cryptocurrency mining operations that we expect will ultimately contribute meaningfully to the Company’s growth in both revenues and profitability.”Executive Chairman of Ault Global Holdings, Milton “Todd” Ault, III
While we can’t call DPW a blockchain penny stock as its main operations are in other industries, this is without a doubt, an exciting prospect. Following this update, will DPW make it on to your list of penny stocks to watch?New Gold Inc. (NYSE: NGD)
New Gold Inc. is another mining penny stock that investors have been watching over the past few weeks. Currently, it has a wide range of mineral properties in many locations around Mexico and Canada. The company’s current mining projects have a focus on gold, silver, and copper deposits at its mines. Its locations include the Rainy River mine, Afton mine, Cerro San Pedro mine, and a few others as well.
On September 13th, the company provided an operational outlook. The company’s consolidated gold equivalent production is now expected to be between 405,000 and 450,000 for 2021. New Gold stated that its consolidated copper production guidance remains unchanged. In addition, it now expects its all-in sustaining costs to be between $1415 to $1495 per gold equivalent ounce.
“While the reduction in our near-term guidance at Rainy River is unfortunate, I remain confident the mine has reached an inflection point, as evidenced by the free cash flow generated in the second quarter and the mine is on track to deliver an improved second half of the year.”President and CEO of New Gold Inc., Renaud Adams
In addition, the company managed to increase its revenue YoY in its latest quarter by over 50%. This is substantial, and shows both the potential of the mining industry and NGD’s commitment to staying on top. Keeping all of this new information in mind, will NGD be on your penny stock watchlist in 2021?How Do You Know Which Robinhood Penny Stocks Are Right For You?
Finding the best penny stocks to buy on Robinhood or wherever you trade stocks, can be easy. But, it takes understanding your own trading style and investment goals in order to do so.
If you know yourself as a trader, it can be much simpler to create a watchlist that aligns with your short and long-term plans. Considering all of this, which penny stocks on Robinhood are you watching right now?