Are you looking for an exciting and potentially profitable investment opportunity?
Penny stocks certainly fit that bill! The phenomenon of penny stocks has both fascinated and baffled investors at the same time, with their low cost and huge potential for huge returns.
Of course with any investments there are risks involved! Penny stocks are so fascinating, because they have the potential of crashing and burning just as quickly as they can soar to new heights.
In this article I will share 3 of the best penny stocks to buy now!
Compugen
According to gobankingrates.coms article by Karen Doyle called 8 Best Penny Stocks To Buy Under $1.00 Compugen is a good penny stock to consider. When the article was written a share in Compugen cost 0.7020 dollars and their market cap was 61.02 million dollars.
Compugen comes up with certain drug targets and they create certain therapeutic treatments to help people become immune to cancer. One of the methods used to try and accomplish this feat is identifying candidates that display certain signs to try the treatments on.
When the stock market closed on March the 31st a share of Compugen cost as mentioned previously 0.7020 dollars a share. During the past year the price has ranged from 0.51 dollars all the way to 3.41 dollars a share. Seven analysts placed the stock into the strong by category in March of 2023 of the ones that were asked.
Blue Star Food Corp
In another article called Best Penny Stocks Blue Star Foods Corp is one of the best penny stocks to buy. The company is a seafood company that operates internationally and it imports packages, sells crab meat that has been pasteurized crab meat and premium seafood wares. Most of the revenue is generated through importing blue and red swimming crab meat mostly from Indonesia, the Philippines and China.
This meat then gets distributed in the United States and Canada under brands such as Blue Star, Oceancia, Pacifika, Crab & CO, First Choice, Good Stuff and Coastal Pride Fresh.
When the article was published a share in the company cost 0.1158 dollars.
Verastem Inc
In the opening paragraph concerning Compugen I referred to an article called Best Stocks That Cost Less Than $1 written by Karen Doyle for gobankingrates.com. That article also recommended purchasing shares in another company called Verastem Inc.
Verastem is a company that develops novel therapies for Ras pathway- driven cancer variants. The company also develops its own products and right now they are working on manufacturing, developing and commercializing products along with Chugai Pharmaceutical Co, and Pfizer.
At the time of the article being published the verastem stock price was 0.4152 dollars a share. However there is an alarming sign about this stock if you want to heavily consider the opinions of analysts when you purchase shares in a company. Only one of five analysts when asked at the beginning of April placed the stock into the strong buy section.
Pros and Cons with Penny Stocks
Before I conclude this article I just want to share some of the pros and cons with penny stocks, because I want the readers of this article to have the full picture when it comes to penny stocks.
Firstly, penny stocks are often correlated with high risk. Penny stocks are cheap, because they are unproven and have no record. This means that penny stocks are more likely to be influenced by downturns and upturns in the market.
Secondly, they don’t offer a lot of liquidity. That doesn’t mean that they never can be liquid, which means that there can be many takers that want to buy shares. Unfortunately this can make them difficult to offload for the price you desire.
Furthermore there is no detailed information available concerning these penny stocks like there is regarding popular companies like Apple. As a result of this the complete picture is hard for many investors to locate.
Lastly, scams and fraudulent activities are very prevalent. Investors who want to purchase penny stocks are very often targeted by both scammers and fraudsters. Scare tactics and high pressure sales tactics are very common as well.
Conclusion
To round off this article I want to say that penny stocks can be very exciting and potentially very profitable. However it is crucial to remember that penny stocks come with high risk, have limited liquidity and lack detailed information.
However the best penny stocks to buy currently are Compugen, Blue Star Food Corp and Verastem Inc. With this information investors who read this article can reap the rewards from these stocks, if they exercise caution and do their research.
Feel free to contact us with any questions regarding this article!
