The stock market debut of Robinhood Markets, the California-based financial technology startup that owns the popular stock trading app Robinhood, is scheduled in the coming months. By the end of the year, the corporation hopes to have a market capitalization of more than $40 billion. Vladimir Tenev and Baiju Bhatt founded Robinhood to help micro-investors reach their full potential. The average age of these customers is roughly 30 years old, and the majority of them invest in penny stocks with high development potential. Tesla, Inc. was the most popular stock on the app for the month of May. Last year, Robinhood made more than $680 million in sales, up more than 500% from the previous year. These retail investors seem to be especially interested in the technology, biopharmaceutical, and marijuana industries. These three groups accounted for the majority of the popular penny stocks.
Here is Insider Monkey’s list of the 10 penny stocks Robinhood traders are buying in 2021. Safe Bulkers, Inc. is ranked tenth among the ten penny stocks that Robinhood traders plan to buy in 2021. Over the last year, the company’s stock has returned more than 248 percent to investors. It has a fleet of more than 40 cargo ships that deliver coal, grain, and iron ore. On the list of 10 penny stocks Robinhood traders are purchasing in 2021, Uxin Limited is ranked ninth. In the Asian country, the holding business owns an e-commerce marketplace for second-hand cars. Over the last few months, it has provided investors with gains of more than 246 percent. The eighth penny stock on the list of 10 penny stocks Robinhood traders are buying in 2021 is Abeona Therapeutics Inc. Over the last month, the company’s stock has returned more than 31% to investors. Its most well-known product is EB-101, a cell treatment for recessive dystrophic epidermolysis bullosa. Evol Systems, Inc. is ranked seventh on the list of the top ten penny stocks that Robinhood traders are planning to buy in 2021. Over the previous year, investors have received a return of more than 112 percent on their investment in the company’s stock. NexGen Energy Ltd. is the sixth penny stock on the list of the top ten penny stocks Robinhood traders are purchasing in 2021. In the last year, the stock has returned more than 271 percent to investors. Tesla, Amazon.com, and Alphabet Inc. are just a few examples. For more details, click 10 Penny Stocks Robinhood Traders are Buying in 2021.