Finding Penny Stocks on Robinhood: A Step-by-Step Guide

When it comes to investing in low-cost equities known as penny stocks, having access to reliable tools and platforms can make all the difference. One popular platform that many investors turn to is Robinhood, an online brokerage firm offering commission-free trading services.

However, finding these elusive yet potentially lucrative investment opportunities on Robinhood's mobile app may prove challenging for newbies or even experienced traders alike. Fear not! In this article, we will provide a comprehensive guide on how to find penny stocks on Robinhood using both its website and mobile application.

Why Use Robinhood?

Before diving into the nitty-gritty of finding penny stocks, let’s briefly touch upon why you should consider trading with Robinhood in the first place. Here are some key benefits:

1. Commission-Free Trades: As suggested by its name, one of the main advantages of using Robin fractional shares app is that it offers commission-free trades on both buying and selling stock options.

2. User-Friendly Interface: The platform's intuitive design makes navigating through various features an absolute breeze for even those new to investing.

Finding Penny Stocks on Robinhood

To begin your journey in finding penny stocks on the Robinhood app, follow these simple steps:

1. Download & Install the App (if you haven't already)

First things first - download and install the official Robinhood trading application from either Google Play Store or Apple App Store depending upon your preferred operating system.

2. Create a Trading Account

Once installed, open up the app and sign in to your existing account if you're an existing user; otherwise, follow the straightforward process of creating a new one by providing necessary personal details such as name, date of birth (to verify age), social security number or tax ID card information etc.

3. Accessing Penny Stock Search Feature

Upon successful login into your Robinhood dashboard, tap on 'Portfolio' located at top right corner followed by tapping '+' icon next to 'Stocks'. Now scroll down until you see an option labeled ‘Advanced’ - give it a quick long press & select “Penny Stocks” from the dropdown list.

4. Utilizing Advanced Search Filters

With penny stocks now visible in front of your eyes, let's dive deeper into utilizing advanced search filters available within Robinhood to further refine your results:

a) Price Filter: Use this feature to set a minimum price threshold (in dollars) for each stock listed; e.g., enter '.01' if you want only shares priced at or below $0.01.

b) Market Cap Filter: This filter allows users to exclude stocks based on their market capitalization, which can help weed out blue-chip companies with higher share prices.

5. Setting Up Watchlists

To keep track of your favorite penny stock picks and quickly access them whenever needed without having to manually search every time, it's highly recommended that you create custom watchlists within the Robinhood app:

a) Log in to your account on either desktop or mobile device.

b. Click on 'Portfolio' at top navigation bar > then select “Watchlist” from dropdown menu.

c. Name your new list (e.g., Penny Stocks Watch).

d. Add stocks you wish to monitor by searching for their ticker symbol and clicking the '+' icon next to each result.

In conclusion, finding penny stocks on Robinhood is a straightforward process that requires minimal effort once you've mastered the basics outlined above. Remember always do your own research before investing any amount of capital into these high-risk assets!

Find penny stocks on robinhood app