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Top 10 Penny Stocks On Robinhood To Watch For December 2019

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Dec 04, 2019 (Penny Stocks via COMTEX) -- When it comes to penny stocks you’ve got to know the basics of trading . This is an obvious fact but there’s something else that’s just as important to buy penny stocks ; a good broker. As the popularity of web-based trading grew over the last few decades, the days of picking up a phone to place a trade have slowly disappeared. Fast-forward to today and we’ve not only seen competition increase for market share but also the rise of no-fee options.

The company that’s made this option popular was Robinhood. Users can trade penny stocks , options, and blue chips with a few taps on the app and incur no fees to trade. That compared to other brokers charging fees for each time a client buys and then sells a security.

But thanks to Robinhood, penny stocks on many platforms can be bought and sold without fees. Also, thanks to Robinhood’s industry-defying model, the mergers and acquisitions climate has heated up this quarter as well. Charles Schwab agreed to acquire TD Ameritrade in a multi-billion dollar deal.

But even so, when it comes to popular platforms for trading penny stocks Robinhood has continued to captivate its user-base. A “cool” mix of easy access and innovative features still keeps its users happy. No matter your flavor, the other interesting thing about the platform has to do with the data it provides. You can actually search for penny stocks on Robinhood and see how many users have the stock in their portfolio’s

This has become a very popular segment on PennyStocks.com. Though these aren’t reasons to sell or buy penny stocks on Robinhood, this is simply a list of penny stocks on Robinhood that are in order of popularity. Last month, the most popular penny stock on Robinhood based on the number holding it was Aurora Cannabis (ACB).

[Read More] How To Buy Penny Stocks On Robinhood

Keep in mind what I said above, just because they’re popular doesn’t mean they’re good penny stocks to buy. Case in point, Aurora was most popular and starts December under $2.50 a share. Last month the pot penny stock started its Thanksgiving month above $3.50. Needless to say, some of the other penny stocks on that list ended up doing pretty well.

Plug Power (PLUG) started November under $3 and this month it will begin above $3.80 a share. Others that are still on the Top 10 Robinhood Penny Stocks list have also clocked a nice 30-day move. So, with all of this in mind, let’s take a closer look at what’s popular for December.

This could become a trend this month as we’ve seen gold prices start to creep back up again. Yamana Gold ( AUY Stock Report ) was one of the companies listed last week in “ 5 Penny Stocks To Watch As Gold Prices Attempt To Reverse .” It’s been a solid second half of the year for the gold company. Yamana hit 52-week lows in May of $1.78. This week we see AUY stock trading just shy of $3.60 in a channel it has held for a few months.

Thanks to the price of gold, companies in the mining sector like Yamana have seen strong financials. On top of this, it has also supported a reason to seek out new areas to mine. Last week the company announced that it had found new high-grade mineralization at its El Penon property. The company stated that it has the potential to further extend the mine’s life as well. Further to this, Yamana’s exploration of its Minera Florida location has defined new veins at what it calls a “better than life of mine grade.”

With just over 35,000 users on Robinhood holding shares of AUY, there’s no shortage of people watching this penny stock. What was announced later last week is also likely music to their ears as well. “We are considering another dividend increase and believe that we can support an increase that is at least 50% higher than our current dividend and potentially 100% higher,” executive chairman Peter Marrone said, “We are in the process of creating a reserve cash balance that would help ensure that our dividend remains sustainable even if the price of gold declines.”

Holding the number 9 spot again was J.C. Penney ( JCP Stock Report ). Since last month’s top 10 Robinhood penny stocks list, shares of JCP stock have climbed about 13% to finish November at $1.13. The company has been hit hard over the year by increasing pressure from e-commerce competitors who’ve won several battles that brick & mortar retail stores haven’t found ways to combat yet. Mounting debt also hasn’t helped the cause for one of the oldest retailers in America.

But even so, the short term performance hasn’t gone unnoticed either. Over 40,000 people on Robinhood hold shares of JCP in their portfolios at the start of December. Upbeat sentiment for several retail names has actually helped boost confidence for companies like J.C. Penney. After reporting earnings for the last quarter, performance for this penny stock has faired well.

The retailer reported a smaller than expected loss for Q3 as well as lower cost of goods sold and improved margins. However, J.C. Penney missed the consensus mark when it came to sales and other comps like Kohl’s and Macy’s have hurt brick and mortar retail after they guided lower for the end of the year. With Black Friday and Cyber Monday ending November and started December, could this help or hurt JCP for the end of the year?

Also holding its spot (at #8) again this month was Nokia ( NOK Stock Report ). It’s been a rough year for the telecom company’s stock. The battle over 5G raged on in November and saw shares of NOK stock tumble yet again. In fact, since the start of the 4th quarter, anyone holding Nokia stock since October first are down big right now. I don’t even think you can talk about performance in any positive light whatsoever. When traders thought the bleeding was over, Nokia didn’t do much besides say “Hold my beer.”

The company not only missed estimates for the quarter but also guided lower for both 2019 and 2020. They even said that its profit will likely be lower based on the competitive climate for 5G. It would be a safe assumption that if you’re trying to be a market leader, you’d have some ducks in a row before throwing a hat in the ring. For Nokia, they missed the memo.

[Read More] 4 Penny Stocks On Robinhood That Got Crushed In 2019

But after all of this, the company has begun to reshuffle its leadership team. The company will split Chief Operating duties among others at the company. Additionally, the company reported on November 29 that the company submitted a proposal to resolve long-standing patent licensing fee issues with companies like Daimler who’ve complained to the EU about the fees. Will NOK stock ever recover are should investors prepare for more tough times ahead?

Coming in at #7, Groupon ( GRPN Stock Report ) hasn’t had a terrible 3rd quarter despite getting hit hard during the first 3 quarters of the year. Since the start of October, shares of GRPN stock rallied by as much as 15%. This could be another bullish case for companies like Groupon who thrive on eCommerce deal-flow. Cyber Monday kicks off the first trading day of December and could help sector stocks.

Groupon, specifically, had a topsy turvy last few weeks but held a trading channel between $2.73 and $3.03 with the former acting as a relatively accurate support level during the period. Groupon missed earnings estimates and saw downgrades by analysts. Despite this, the time of year to watch companies like Groupon has typically been during the holidays.

According to Deloitte, retail sales are expected to increase between 4.5% and 5% during the holidays. This suggests a jump from 3.1% in 2018. In addition to this, Deloitte things eCommerce sales will reach between $144-$149 billion. That figure isn’t a total for the year but a total during the holidays alone. Can Groupon capitalize on this growth?

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