Top 8 Penny Stocks to Watch on Robinhood in September 2026

Robinhood penny stocks are the low-priced, volatile names the retail crowd piles into, and September 2026 has a fresh batch. Commission-free trades and fractional shares put these tickers in front of millions of beginners, which is exactly why they move the way they do when a catalyst hits. A few on my list are true small-caps under $5. Others trade higher and still act like penny stocks. What they share is speed, volume, and the kind of two-sided price action I want on a watchlist.

One note before the list. Every name here trades on the Nasdaq or NYSE rather than OTC, so any of the major brokers can access them. None of them belong in a buy-and-hold portfolio. These are trades, and the stock market does not owe anybody a bounce.

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My 8 Robinhood penny stocks to watch this September, at a glance:

8 Robinhood Penny Stocks to Watch in September 2026

My top 8 Robinhood penny stocks for September are:

• Nokia (NYSE: NOK) — The Former $4 Runner Grinding Back
• SoFi Technologies (NASDAQ: SOFI) — The Fintech Wall Street Just Upgraded
• Rivian Automotive (NASDAQ: RIVN) — Dilution, Then A CFO Exit
• Opendoor Technologies (NASDAQ: OPEN) — The $2-to-$10 Swinger With A Buyback
• Snap (NYSE: SNAP) — The Sub-$5 Name With Activists Circling
• SpaceX (NASDAQ: SPCX) — The $150 Breakout Level Everyone Is Watching
• Ford Motor Company (NYSE: F) — The Retail Favorite Nobody Calls A Penny Stock
• Tesla (NASDAQ: TSLA) — The Most-Held Ticker In Retail Accounts

Before you send in your orders, take note: I have NO plans to trade these stocks unless they fit my preferred setups. This is only a watchlist. The best traders watch more than they trade. That is what I am trying to model here. Pay attention to the work that goes in, not the picks that come out.

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Price action decides that, not me. SpaceX (NASDAQ: SPCX) has the cleanest technical setup on this list, sitting right under a breakout level traders have been circling for weeks. But we are traders, not investors. I watch these for the next move, not for a prediction about which company survives the decade.

What are the top 3 Robinhood penny stocks to watch now?

As long as the price action supports it, my top 3 from this list are:

• SpaceX (NASDAQ: SPCX)
• SoFi Technologies (NASDAQ: SOFI)
• Opendoor Technologies (NASDAQ: OPEN)

Which Robinhood penny stocks have a Strong Buy analyst rating?

Analysts do not hand out Strong Buy ratings on Robinhood penny stocks as a category, because these are volatile trading vehicles. SoFi (SOFI) and American Airlines (AAL) carry Buy consensus ratings, but always trade with a plan, not an analyst’s opinion.

Can you day trade penny stocks on Robinhood?

Yes. As of June 4, 2026, the old pattern day trader (PDT) rule and its $25,000 minimum are gone. Buying power is now calculated on real-time position risk instead of an arbitrary dollar floor, and Robinhood went live on the new system that day. You can day trade in a margin account as often as you want. But the rule being gone does not mean you should trade more. It means you are allowed to. Discipline still matters more than access.

Let’s get to the picks.

Nokia (NYSE: NOK) — The Former $4 Runner Grinding Back

My first Robinhood penny stock pick is Nokia (NYSE: NOK). Nokia is a penny stock in spirit and always will be. It traded as low as $4.48 within the past year, ran to $17.45, and now sits around $10. That is a full boom-and-bust cycle in twelve months on one of the most liquid tickers retail traders own.

The AI networking story is what took it from $4 to $17, and the give-back is what happens when a legacy telecom gets priced like a growth company. Free cash flow is deeply negative, the company is cutting 1,600 jobs and closing a China research site, and the AI-RAN platform everyone got excited about does not deliver meaningful revenue until 2028.

With no earnings until late October, this is a pure chart trade for the next several weeks. Watch how it behaves around $10.

Read more: Nokia Stock Moves As The AI Networking Story Cools

SoFi Technologies (NASDAQ: SOFI) — The Fintech Wall Street Just Upgraded

My second Robinhood penny stock pick is SoFi Technologies (NASDAQ: SOFI). SOFI is the digital bank retail traders know best, and it just got a fresh catalyst. Scotiabank initiated coverage at Outperform in early September, citing faster member growth, and the stock jumped 5% on the call. Revenue is up more than 26% year over year.

Then it went further into crypto, partnering with Payward to connect banking and digital asset markets. That matters right now because crypto has been one of the few genuinely strong corners of this market, so SOFI is picking up sympathy flow from a completely different sector.

The risk is that SOFI is no longer cheap relative to where the crowd panicked after its last earnings report, and a securities fraud investigation from Block & Leviton is still hanging around. React to the chart, not the upgrade.

Read more: SoFi Stock Soars After A Fresh Analyst Upgrade

Rivian Automotive (NASDAQ: RIVN) — Dilution, Then A CFO Exit

My third Robinhood penny stock pick is Rivian (NASDAQ: RIVN). RIVN trades around $16 with a market cap near $23 billion, and it is one of the most-held names in Robinhood accounts. The 52-week range runs from $12.39 to $22.69, so there is plenty of room to work with.

Here is the sequence traders should study. Rivian raised full-year delivery guidance, then sold $1.5 billion of stock at $15.50 a share and dropped roughly 18% in two days. Then in late August it disclosed that CFO Claire McDonough is leaving by the end of October, and the stock fell again. Good operational news, bad capital-markets news, and the capital-markets news won both times.

The federal EV tax credit is gone, which pressures demand across the sector. Watch how it acts around that $15.50 offering price, because institutions already told you where they were willing to buy.

Read more: Rivian Stock Falls After Disclosing Its CFO Exit

Opendoor Technologies (NASDAQ: OPEN) — The $2-to-$10 Swinger With A Buyback

My fourth Robinhood penny stock pick is Opendoor (NASDAQ: OPEN). This is the purest volatility play on my list. OPEN has ranged from under $2 to nearly $11 over the past year, which is exactly the boom-and-bust cycle I look for, and it repeats.

August earnings were ugly. Revenue came in around $883 million, down sharply year over year, and the loss hit 17 cents a share against an expected seven cents. The stock sold off after hours. Then management bought back 5% of the shares outstanding and raised $440 million at a 0% coupon, while a new CEO runs a public reset of the business.

So you have a shrinking share count against a shrinking business, with analyst targets scattered from the low $4s up to $7. Nobody agrees what this is worth, which is exactly why it moves. Perfect trading vehicle, terrible investment.

Read more: Opendoor Stock In Focus After Its Earnings Miss

Snap (NYSE: SNAP) — The Sub-$5 Name With Activists Circling

My fifth Robinhood penny stock pick is Snap (NYSE: SNAP). This is a genuine sub-$5 stock with a multibillion-dollar market cap, which is a rare combination and exactly why retail traders love it. The 52-week range runs from $3.81 to $10.41, so it has already lost more than half its value from the highs.

The story now is activist pressure. Irenic Capital Management and other activists have been pushing Snap to spin off parts of the business and rethink how it makes money, and regulatory scrutiny is adding to the noise. Activist campaigns produce headlines, and headlines produce the volume we need.

A cheap share price on a company with falling earnings is not a bargain, it is a broken chart with a low ticket price. Trade the headlines and keep it small.

Read more: Snap Stock Draws Activist Pressure

Bigger Names Trading Like Penny Stocks

These three are not cheap stocks and I am not pretending otherwise. They are here because Robinhood traders hold them in size and the charts move with penny-stock speed around catalysts.

SpaceX (NASDAQ: SPCX) — The $150 Breakout Level Everyone Is Watching

My sixth Robinhood pick is SpaceX (NASDAQ: SPCX). SPCX is roughly 34% below its post-IPO peak and sitting right underneath a breakout level traders have been circling. Jack Kellogg has been watching a break above $150 for a possible move toward $160 to $170, with anything under about $137.50 taking it off his list. I like that framework because it defines the trade before the trade.

The fundamentals behind the move are real. Q2 revenue grew 92% year over year, the feared lockup expiration came and went without a selloff, and filings revealed Nvidia holding a nearly $21 billion stake alongside Harvard’s endowment. Nasdaq rebalancing could bring billions in passive buying.

Now the honest part. A price-to-sales ratio near 87 on a young IPO with an enormous daily range is a chase, and chases are where undisciplined traders get hurt. Take it into strength rather than weakness, trade small, and sell into strength.

Read more: SpaceX Stock Climbs As Institutions Pile In

Ford Motor Company (NYSE: F) — The Retail Favorite Nobody Calls A Penny Stock

My seventh Robinhood pick is Ford (NYSE: F). Ford is a century-old automaker, not a penny stock, but it earns a spot here for one reason: it is one of the most-held and most-searched tickers in retail brokerage accounts, and a low share price makes it feel accessible to beginners buying their first shares.

That accessibility is the trap. A cheap-looking price on a mature industrial company does not give you penny-stock upside. What it gives you is a slow-moving chart that occasionally gaps on EV news, tariff headlines, recall announcements, and earnings.

Trade it when there is an actual catalyst and real volume. Otherwise leave it alone and let the buy-and-hold crowd own it.

Read more: Ford Stock In Focus As EV Strategy Shifts

Tesla (NASDAQ: TSLA) — The Most-Held Ticker In Retail Accounts

My eighth Robinhood pick is Tesla (NASDAQ: TSLA). Tesla is the single most-held stock in retail accounts, and it moves on Elon Musk headlines faster than most penny stocks move on actual news. That combination of massive liquidity and headline sensitivity is why traders keep coming back.

It got crushed on its recent earnings reaction and has been working to hold support, while facing a growing competitive threat in full self-driving from Chinese rivals and from Uber’s robotaxi reinvestment. There is also a useful correlation to track: TSLA and SPCX tend to bounce together, so a Tesla move is often the early tell on a SpaceX move.

This is a volatility and sympathy trade, not an investment thesis. React to the chart.

Read more: Tesla Stock Jumps Despite Growing Competitive Threats

*Past performance does not indicate future results.

What Are Penny Stocks on Robinhood?

Penny stocks are low-priced, small-cap shares, usually trading at $5 or less, though traders often stretch the term to any cheap, high-volatility name the retail crowd chases. Robinhood made them easy to trade with commission-free orders, fractional shares, and no minimum deposit, which is why it became the default app for a whole generation of beginners entering the stock market. That accessibility is a double-edged sword: it is simple to buy a spiking penny stock on Robinhood, and just as simple to hold it too long and give the gains back.

How to Find Penny Stocks on Robinhood

Robinhood does not have a built-in penny stock scanner, but you can still surface movers. Open the search bar, look for the Trending Lists, and sort by price to filter for stocks under $5. That gets you a starting list, not a plan. For real scanning, news, and Level 2 data, I use StocksToTrade, the platform I helped design, because it pulls breaking news, filings, and unusual-volume alerts into one place so I can compare setups, evaluate liquidity, and monitor the movers in real time instead of guessing.

If you are serious about learning to trade these setups instead of just watching them, apply for my Trading Challenge.

What to Look for in a Robinhood Penny Stock

Do not take your penny stock list from other people’s picks, not even mine. Do your own research before you add anything to your trading portfolio. Here is my cheat sheet for what makes a Robinhood name watchlist-worthy:

✅ A tradeable chart pattern. The best penny stocks follow a boom-and-bust cycle, and the patterns repeat. Start with the stock chart, every time.

✅ A low float. A stock with fewer than 10 million shares available to trade is low-float. Low float plus a catalyst equals violence in both directions.

✅ Unusual trading volume. Volume is proof of demand. It makes a stock easier to enter and exit and raises your odds of catching the meat of the move.

✅ A former runner. A stock that has spiked before can spike again. Traders remember it and set alerts. Every name on this list has made a violent move before.

✅ A real catalyst and media attention. Earnings, mergers, and breaking news drive the volume that drives price. No catalyst, no trade.

✅ A plan to cut losses. These move fast in both directions. Decide where you are wrong before you enter, and honor it.

Where Robinhood Falls Short for Penny Stock Traders

Robinhood is a great on-ramp, and its commission-free, low-cost model and ease of use are real strengths. But active penny stock traders hit its limits fast. It offers little access to OTC stocks, where many of the cheapest names trade. Execution can be slower than a direct-access broker, which matters when a stock is moving cents per second. And the research tools are thin, with no real Level 2 depth. If you get serious, most traders end up pairing Robinhood with other brokers built for speed and scanning, routing the fast trades where fills are quicker.

Key Takeaways

Robinhood penny stocks are trading vehicles, not investments. The opportunity is short-term price action driven by catalysts, momentum, and crowd psychology, and the app’s reach means these names get loud fast. But loud is not the same as easy. Keep a real watchlist, wait for your setups, size small, and cut losses quickly. With the PDT rule gone, you have more freedom to trade, which makes discipline more important, not less.

One of the most successful traders I have ever taught is my student Jack Kellogg. If you want to see how he trades these setups, check out his program here.

Frequently Asked Questions

Are Robinhood Penny Stocks a Good Investment?

No, and that is the wrong question. Robinhood penny stocks are speculative, high-risk trading vehicles, not investments. Most of these companies will never generate durable profits. The opportunity is in short-term moves driven by catalysts and crowd psychology. Treat them like trades, with small positions and fast cut losses, and you can do well. Treat them like investments and you will probably lose money.

How Do You Find Penny Stocks on Robinhood?

Use the search bar to open the Trending Lists, then sort by price to filter for stocks under $5. Robinhood has no dedicated penny stock scanner, so for real news scanning and Level 2 data most active traders pair it with a platform like StocksToTrade.

Does the End of the PDT Rule Change Robinhood Day Trading?

Yes. As of June 4, 2026, the pattern day trader rule and its $25,000 minimum were replaced by a real-time margin system, and Robinhood adopted it that day. Small-account traders can now day trade a margin account without the old four-trades-in-five-days limit. The standard $2,000 margin-account minimum still applies, and discipline still matters more than access.

What Determines a Robinhood Penny Stock’s Volatility?

Float size, trading volume, catalyst timing, and short interest. A stock with a tight float and a fresh catalyst can show violent price movements, while a heavily diluted name with hundreds of millions of shares tends to grind. For penny stocks, supply and demand around the float matters more than traditional valuation.