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Nathan Johnson
Nathan Johnson

Great Penny Stocks To Buy Now

You cannot get rich off penny stocks, but you can diversify your portfolio with a few penny stocks. There are times when companies recover from bankruptcy or financial troubles only to rise from the ranks of penny stocks. You can also make some savvy trades when penny stocks suddenly rise, offering you a quick profit. However, you cannot get rich off penny stocks alone. Every investment portfolio should be diverse, featuring a few penny stocks, and several other assets.

great penny stocks to buy now


If you plan to put $1000 into penny stocks, you must spread your purchases across several stocks in many different industries. Choose a few penny stocks to buy now, but you remember to invest in stocks that cost more than a few pennies. Because a penny stock can cost up to $2 a share, you can avoid stocks that might drop too low, get delisted or become practically worthless.

In fact, some of the names covered in past penny stock coverage have made their exit from penny stock territory. For instance, Comstock (NASDAQ:CHCI), a commercial real estate manager that many investors have previously misclassified as a homebuilder, has zoomed from just under $4 per share at the start of the year, to around $5.25 per share today.

Whether from the market finally catching onto their respective mispricings, or from company-specific catalysts that help to improve sentiment, these seven of the best penny stocks have ample room to run, in 2023 and beyond.

However, over the past twelve months, AMS stock has garnered a greater level of attention. Shares have rallied by around 31.2% during this timeframe. As Louis Navellier pointed out last month, this company has experienced a high level of earnings growth in recent quarters. Last quarter alone, earnings more than doubled.

Jerash (NASDAQ:JRSH), much like CHCI mentioned above, is another of the best penny stocks that has soared since the start of 2023. Shares in the apparel maker are up around 20.5% year-to-date, and are in fact close to escaping penny stock territory.

A return to this level of profitability is likely sufficient to send JRSH not only back above penny stock price levels but possibly up above $10 per share as well. With this, consider it a buy, whether now, or on any further weakness.

When it comes to penny stocks, share price appreciation is typically the main focus. However, one may be able to generate market-beating returns with Sachem Capital (NYSEAMERICAN:SACH), merely from its double-digit dividend yield (13.6%).

Last year was great for the penny stock market. The popularity of this kind of trading was heavily influenced by the meme stock phenomenon. With this trend having faded in 2022, it might become more challenging to find success with penny stocks. Yet, there are still some investors willing to take the risk.

Pitney Bowes is a clear exception to the rule that penny stocks represent obscure, here-today-gone-tomorrow companies. This global shipping and mailing mainstay was founded in 1920. It trades at a moderate 21 times earnings and pays a robust 5.18% dividend yield.

Penny stocks are often found in emerging industries or in those industries that require a long period of research and development prior to the production of a viable product. These stocks are often found in early-stage technology, pharmaceutical, biotech or therapeutics companies.

Penny stocks are stocks of small publicly-traded companies listed on stock exchanges for a price generally lower than INR 10. They are not frequently-traded stocks and often sudden bouts of market volatility determine the returns investors can potentially make on them.

Being low on liquidity, penny stocks could be quite risky to invest in. For instance, you may buy a penny stock at a very low price but may not find buyers when you wish to sell it. Some penny stocks die out with time and may potentially get delisted resulting in losses. Hence, it is not necessary you would be able to make phenomenal returns when investing in penny stocks.

While investing in penny stocks, investors must remember one has to be diligent in their research and invest their entire corpus in a diversified manner to hedge against potential risks that come with higher return prospects of penny stocks.

Forbes Advisor India analyzed the top 50 penny stocks listed on the Bombay Stock Exchange and the National Stock Exchange and chose the top penny stocks that could potentially help investors build wealth. Stocks within the annual trading range of approximately INR 30 have been considered for this analysis.

Reliance Power is an interesting penny stock for 2023 backed by robust fundamentals despite posting a INR 303.91 cr consolidated loss after tax in the September quarter that included a debt repayment of INR 390 cr.

The Bank of Maharashtra stock is quite similar in range to other public sector (PSU) bank stocks including Central Bank of India, Indian Overseas Bank, UCO Bank and Punjab and Sind Bank, all of which make a part of outperforming Nifty PSU Bank Index that comprises of 12 PSU bank stocks.

The market cap of penny stocks is generally quite low. In some cases, stocks that have suddenly fallen in value due to debt issues or corporate governance challenges end up in the penny stocks category. In India, the majority of penny stocks have low to moderate market cap.

Penny stocks are not advisable for beginners as they may not completely understand the risks associated with such investments. Penny stocks are best traded by seasoned investors who have a good grip over market speculations and invest after thorough analysis and research.

The same stocks in a bullish market could potentially multifold the returns you make on them. Such penny stocks that give an investor many times the returns than their investment are called multi-bagger penny stocks.

Identifying a penny stock that can potentially multiply returns requires you to follow a simple checklist over the basic criteria that the stock you invest in should have strong fundamentals and growth potential in the short to mid-term.

It is not necessary you would be able to make phenomenal returns when investing in penny stocks. Such stocks generally have a low bid-ask spread, are not frequently traded, and even risk being completely wiped out. It is the volatility in these stocks that present an opportunity for investors to experiment with stocks that have a low market capitalization and make some returns.

The best alternative to investing in penny stocks are mutual fund investments, which are professionally managed and help investors create a diversified portfolio across asset classes such as shares, bonds and money market instruments.

Being low on liquidity, penny stocks could be risky to invest in. For instance, you may buy a penny stock at a very low price but may not find buyers when you wish to sell it. Some penny stocks die out with time and may potentially get delisted resulting in losses. While investing in penny stocks, one has to be diligent in their research and invest their entire corpus in a diversified manner to hedge against potential risks that come with higher return prospects of penny stocks.

The safest penny stocks to buy include stocks of companies that were once large cap companies with a robust foundational parent group, which is willing to pay off debts and rectify issues related to the subsidiary stock.

A classic example of safe penny stocks in India is Vodafone India, which is in deep waters due to its debt obligations but also has the backing of the Government of India and billionaire promoters including KM Birla. So, while it is risky to invest in Vodafone Idea, it could be seen as a calculated risk.

With another month of trading penny stocks only a few days away, investors continue to look for the best small-caps to watch. Last week, we saw the rise of (NASDAQ: SPRT), which brought in a five-day gain of over 184%.

And with a 40% pre-market gain so far, SPRT stock is up by over 1,110% in the past six months. While this is a major positive for those invested in SPRT stock, it also presents a promising sign for both penny stocks and the stock market as a whole.

Transocean Ltd. is an energy penny stock that has shot up by over 16% in the past five days. This brings its YTD gain to over 58%, which is a reflection of the bullish sentiment around the energy industry right now. For those unfamiliar, Transocean is a company that provides offshore contract drilling services for oil and gas wells.

SOS Limited is a tech penny stock that has seen some solid bullish interest from investors in the past few trading days. With an over 85% YTD gain and big ties to cryptocurrency, SOS stock remains a popular choice for some traders right now. For some context, SOS Ltd. provides data mining and analysis services to insurance companies, financial corporations, medical institutions, healthcare providers, and more. SOS Limited also has operations with cryptocurrency mining and blockchain-based insurance.

With a bullish turnaround for the company occurring in August, many traders are excited to see what September has in store for the company. Whether this makes SOS stock worth adding to your penny stocks watchlist remains up to you.

This shows that Sphere 3D is working hard to make a name for itself in the ESG penny stocks category. ESG or environmental, social, governance, is a category of companies that are committed to environmental and social causes and conduct business in this way.

On August 27th, ANY stock shot up by more than 17% in the market. In addition, its volume was much higher than its average, showing the increased popularity of ANY stock right now. Keeping this in mind will ANY make your list of penny stocks to watch this month?

But, if we pay close attention to the current events and the trajectory of the stock market, making money with penny stocks can be much easier than previously anticipated. Considering this, which penny stocks are you watching in September? 041b061a72

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