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The stock market has had a wild ride over the last few months. We saw the Dow Jones Industrial Average drop almost 40% and then make a significant recovery. We even saw the Nasdaq Composite recover to new highs.
With a looming pandemic, it's still not certain whether those highs will remain. But our top Robinhood tech penny stock today could gain 115% this year regardless.
Traders have been very active during the coronavirus outbreak. And Robinhood has been a growing part of that. It added 3 million new accounts in the first quarter and now serves more than 10 million customers. This means that tracking what users are trading can provide insight into the next hot stock.
We have seen investors pile into stay-at-home stocks, airlines, and bankrupt companies. Some have made millions on big trades around COVID-19 vaccines.
Now, our top penny stock on Robinhood today has just starting to take off, almost tripling its number of holders in the last 30 days. We'll show you this penny stock in just a moment.
First, here's why it's about to soar…
Why Tech Penny Stocks?
As fall grows closer and the coronavirus pandemic shows little signs of slowing down, several universities are announcing a shift to remote schooling for the fall semester. Harvard, Princeton, Yale, and University of Massachusetts at Amherst are just a few of the prominent schools that have said classes will be offered online. Not just universities, but many school districts are trying to finalize what classes will look like for the over 50 million students in the new academic year.
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A month ago, many states were opening, but now they're pausing or even rolling back as cases ramp back up in many states. The uncertainty of the virus spreading is forcing schools to make alternative plans to in-class education. While some schools are trying their luck by pushing back the start of the school year, others are offering classes online and supplying tablets for learning at home. This is great and all, but it becomes all-new territory for teachers, parents, and students.
This all means one thing. Remote learning technology and education is in demand. That's what makes this one of the best stocks on Robinhood right now…
Best Penny Stock Today
Boxlight Corp. (NASDAQ: BOXL) is at the forefront of electronic and distance learning technology, and Robinhood traders see this. Before the pandemic, there were less than 1,000 holders of this stock. Now, there are over 8,000.
Boxlight offers several products that offer innovative technology in the classroom, but it also has a product called Mimio, a distance learning platform integrating with Google Classroom and Office 365 Education. Schools need software that's going to work both in the classroom and at home. And that is what it is offering.
On top of offering the tools, there needs to be a significant amount of training and professional development to teach in a remote learning environment. Boxlight is also providing those tools.
It even recently released a collection of multimedia resources to train K-12 teachers to deliver distance learning during closures. With several free trainings offered, Boxlight can bring in more teachers to paid products.
Since mid-March, it has provided virtual professional development sessions to nearly 9,000 educators, including webinars, labs, one-on-one coaching sessions and online courses.
The company had numerous large schools and school district wins and recently announced in the last quarter. It solidified several key contracts, including San Diego Unified in California, Montgomery Country in Maryland, Jefferson County in Colorado, Frederick Country in Maryland, and Penn Manor in Pennsylvania.
The company doesn't generate recurring revenue in the form of subscriptions for the hardware part of its business. But many of the contracts call for multiyear rollouts. There are five- to seven-year replacement cycles that are typical in U.S. school districts. Once they are in a school, they are likely to stick with them.
COVID-19 will have some impact on their bottom line given the in-classroom business. But in the long run, that business will return as students get back to the classroom. As a long-term play, Boxlight is covering both in-classroom and digital learning.
With multiple price targets of $2, Boxlight could go up over 100%. It currently trades at just $0.93.
Action to Take: Schools will need to be flexible in the outbreak of the COVID-19 pandemic. Students will need tools to learn both at home and in the classroom. Boxlight Corp. (NASDAQ: BOXL) provides those tools, which makes it our top penny stock today. The stock trades for $0.93 right now. But multiple analysts say it could hit $2 over 12 months.
The FCC's Recent $10 Billion Initiative Is Going to a Single Technology
The White House has put a new Internet technology on the fast track.
But what the public hasn't caught onto yet is that this $10 billion initiative has just opened up a new opportunity to invest – in the Internet itself.
And folks who strike while the iron's hot stand to lock in an unprecedented windfall.