![]() The company already owned a percentage of the company, but now it will have 100% ownership. ![]() Back in June, Ideanomics acquired Solectrac Inc., an EV tractor maker. And, its work as an EV penny stock is something that sets it apart from many other similar companies. ![]() It is with the latter that we see the connection to the Robinhood IPO, however, IDEX on its own still presents quite a bit of value. On one hand, its Ideanomics Mobility division provides solutions for charging, energy management, and other related services needed to have a full-electric fleet of commercial vehicles.Īnd on the other hand, its Ideanomics Capital division invests in burgeoning fintech solutions. To put it simply, Ideanomics operates in two niches. This company’s main focus is the adoption of electric vehicles for commercial use and fintech services. is a penny stock that we have discussed frequently over the past few months. Best Penny Stocks to Watch As Robinhood Goes Public Considering all of this information, let’s take a look at three hot penny stocks to watch ahead of the Robinhood IPO. So, to see Robinhood with a market cap even close to that is quite impressive. To put it into context, the major brokerage firm Charles Schwab, has a market cap of over $130 billion, and this company has been around for decades. Best Multibagger Penny Stocks to Buy? 3 For Your Watchlist This platform has essentially democratized trading, and therefore, resulted in a complete paradigm shift in the stock market. This staggering growth is something we see only occasionally in the stock market and is one of the reasons that this IPO is such a big deal.Īdditionally, over the past year and a half, many investors have taken to Robinhood to buy both penny stocks and blue chips. In the first quarter of this year, revenue for Robinhood shot up by over 300% to $522 million over Q1 2020. Pre IPO, shares of HOOD sold for $38, putting Robinhood at a total valuation of $32 billion. On Thursday, July 29th, Robinhood is set to go public under the ticker symbol, HOOD. Robinhood is one of the most popular places for investors to buy penny stocks.Īnd, while it is already used by millions of traders, the HOOD IPO could bring even more attention to the brokerage platform. ![]() While the HOOD IPO may not seem like a big deal for penny stocks at first, it without a doubt is. 3 Hot Penny Stocks For Your Watchlist as HOOD Stock Goes Public ![]()
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