For day traders looking to make a quick buck, they should be watching for Robinhood stock trends. The Robinhood brokerage trading platform has grown in popularity because of its no commission fees and because it doesn’t require a minimum balance. The platform offers diverse stocks ranging from small-capped to large-capped across the Nasdaq and NYSE exchanges. Another interesting aspect of the Robinhood platform is that it allows traders to see the number of accounts holding shares of a particular stock.
With the ongoing equity market volatility, Robinhood stock trends offer an opportunity for investors to discover what’s hot on the market. For novice and intermediate traders, the Robinhood platform can be a good avenue to build a strong portfolio. There are several high volume stocks and penny stocks for an investor to take advantage of—if they know what to look for. That’s where trends come in.
Here are four Robinhood stock trends that could be key to keep a close eye on right now:
Top 4 Robinhood Stock Trends in April: AMC Entertainment Holdings Inc. (NYSE:AMC)
The first trend takes a look at the entertainment sector. We’ll use AMC Entertainment as our example.
Over the past week, AMC stock is up 50%, having dropped almost 75% since mid-February. This came after Eric Wold of B. Riley FBR, who has been bearish about the company, upgraded the stock to neutral, with a price target of $4. However, when considering its liquidity position, the analyst is pessimistic about the company surviving post-COVID-19 without entering insolvency.
Last week, AMC commenced a private offering of $500 million for its first-lien notes expected in five years. This is a major move expected to buy time for the movie theater operator. The company feels that it has adequate cash to last it until July when theaters will partially re-open, but proceeds from its proposed debt offering could extend AMC’s liquidity until Thanksgiving.
Top 4 Robinhood Stock Trends in April: Viking Therapeutics (NASDAQ:VKTX)
The next trend is, no surprise, within the healthcare industry. This is such a popular trend right now, we’ve got two examples to showcase it. First up is Viking Therapeutics.
Over the past month, Viking Therapeutics stock has gained over 65%. Recently, the company released its Q4 and FY 2019 results and offered an update on the company’s clinical pipeline and corporate developments. In Q4, Viking posted a net loss of $7.5 million or 10 cents per share, compared to Q4 2018, when the net loss was $5.2 million or 7 cents per share. For the full year, the company’s net loss was $25.8 million and 36 cents per share.
>> Top 5 Penny Stock Gainers that Should Be on Your Radar
In Q4, Viking announced the start of the VOYAGE phase 2b trial of VK2809, a novel thyroid agonist receptor for NASH. The company indicated that it has also made progress for VK0214, its second thyroid receptor agonist for X-linked adrenoleukodystrophy treatment.
Viking ended the year with a strong balance sheet that included cash and cash equivalents of $275 million.
Top 4 Robinhood Stock Trends in April: Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP)
Our second health company is Corbus Pharmaceuticals, which demonstrates that just because a company belongs to a trending sector doesn’t necessarily make it a total win. As with most things, there are pros, and there are cons.
Since mid-March, Corbus stock has gained almost 75% (that’s the pro). The company reported a Q4 loss of 41 cents per share compared to consensus estimates of 34 cents loss per share (con). A year ago, the company registered a loss of 30 cents per share. In the third quarter, the drug developer delivered an 11.11% surprise after it posted a loss of 32 cents per share compared to the expected loss projection of 36 cents per share.
Revenue for the company in Q4 came in at $2.57 million and missed Zacks’ estimate by around 44.55%. A year ago, the company’s revenue was $41.93 million. In the last four quarters, Corbus has only topped revenue estimates twice.
With the ups and downs presented here, investors will need to do a little more digging of their own to figure out what’s best to do with CRBP.
Top 4 Robinhood Stock Trends in April: Vivint Solar (NYSE:VSLR)
The final trend we’d like to highlight is the solar energy sector, which we will do be showcasing Vivint Solar.
Vivint Solar stock has jumped over 60% in the past month. In March, the company reported missed sales expectations and reports a wider than anticipated Q4 adjusted loss. The company’s net loss was around $33.5 million or $0.27 per share, relative to the net loss of $12.9 million or $0.11 per share reported in the same quarter a year ago.
Vivint’s net loss adjusted for one-time items was $1.02 per share relative to a net loss of $0.73 reported in 2018. However, revenue increased by 21% from $64 million to around $77 million. On average, analysts were expecting the company to register a loss of $0.70 per share on sales revenue of $88 million.
Bottom Line
Following Robinhood stock trends can pinpoint different stocks that traders can choose to take advantage of—or pass on. What trends are you following right now?
Featured image: Pixabay
