Hot Penny Stocks: The 3 Best Opportunities to Invest In Now

InvestorPlace03-21

Penny stocks with the potential for significant growth. Grab (GRAB): Posting its first-ever profitable quarter with strategic investments ahead. Lithium Americas (LAC): Set to increase lithium ...

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Discover the potential for outsized gains.","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4099":"汽车制造商","BK4017":"黄金","BK4168":"多种金属与采矿","GM":"通用汽车","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC",".IXIC":"NASDAQ Composite","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4555":"新能源车","BK4566":"资本集团","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","GRAB":"Grab Holdings","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4559":"巴菲特持仓","IAG":"IAMGOLD Corp","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","BK4588":"碎股","BK4545":"锂电池","BK4122":"互联网与直销零售","BK4574":"无人驾驶","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","BK4022":"陆运","BK4561":"索罗斯持仓","BK4230":"旅客陆运","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LAC":"Lithium Americas Corp.","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC"},"translate_title":"热门细价股：现在投资的3个最佳机会","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GRAB":1,"GM":1,"IAG":1,"LAC":1,".IXIC":0.6},"content_text":"Penny stocks with the potential for significant growth.\nGrab (GRAB): Posting its first-ever profitable quarter with strategic investments ahead.\nLithium Americas (LAC): Set to increase lithium production with major project developments.\nIAMGOLD (IAG): Promising gold production outlook with significant resource potential.\n\n\n\n\n\n \n\nSource: Shutterstock\n\n\n\nSome penny stocks to invest in have come up on my radar, and I think that investors should know about these. Despite the risks, penny stocks can potentially offer outsized returns if chosen carefully. However, it’s crucial to understand that these types of investments are highly speculative and volatile.\nWith that major caveat in mind, here are a few penny stocks that have piqued my interest recently based on their underlying business prospects, recent news or developments, and perceived potential for future growth.\nI think that every investor could benefit by allocating a small part of their portfolios to these companies. Even laying down $500 into penny stock for a $10,000 portfolio could improve risk-adjusted returns over the long-run, which keeps the big picture in mind for many investors.\nSo here are three penny stocks to invest in to capitalize on the best opportunities to invest in right now.\nGrab (GRAB)\nSource: Nor Sham Soyod / Shutterstock.comGrab (NASDAQ:GRAB) is a diverse technology platform offering services from ride-hailing to financial services in Southeast Asia.\nIn 2023, GRAB reported a revenue of $2.36 billion, marking a 64.62% increase from the previous year. The company managed to reduce its losses significantly to $434 million, a 74.21% improvement compared to 2022.\nPeter Oey, GRAB’s CFO, mentioned that 2024 will be a year of investment for GRAB. This strategic direction is part of why GRAB recently reported its first-ever profitable quarter, with a profit of $11 million and announced a share repurchase plan of up to $500 million.\nAnalysts hold a “Strong Buy” consensus on GRAB stock, with a 12-month price target of $5.08, suggesting a 59.75% upside potential from its last close, which makes it one of the top penny stocks to invest in.\nI’ve been bullish on GRAB for a long time, and these results affirm my stance.\nLithium Americas (LAC)\nSource: Wirestock Creators / Shutterstock.comLithium Americas (NYSE:LAC) focuses on lithium mining, essential for battery production. The company’s Thacker Pass project in the U.S. is expected to be a significant cash flow generator and is the primary reason I think it’s one of those penny stocks for investors to invest in.\nLAC is also expected to continue ramping up production, particularly at its Cauchari-Olaroz asset. With a total production capacity anticipated to be achieved by mid-2024, the company aims for a significant increase in its lithium carbonate equivalent (LCE) production.\nAnalysts like LAC for many reasons. For instance, Faisal Humayun at Investorplace wrote that the backing from General Motors (NYSE:GM), as the largest shareholder and an offtake partner for the Thacker Pass project, provides clear cash flow visibility for Lithium Americas once production commences. Additionally, the potential for a $1 billion Department of Energy loan could help things further.\nThe Chinese market is key to determining the global lithium spot prices, and I think the weakness in this market is temporary, and not structural. LAC’s tiny valuation then makes it one of those penny stocks to buy.\nIAMGOLD (IAG)\nSource: ShutterstockIAMGOLD (NYSE:IAG) is a gold mining company with a promising growth outlook due to high gold prices and its extensive project pipeline.\nIAG stock has a few things up its sleeve that have many investors feeling bullish. For instance, The Cote Gold project, together with the Gosselin discovery, suggests the potential for a total resource exceeding 20 million ounces. This could be a significant source of free cash flow for the firm if it manages to tap into these reserves.\nAlso for the year 2023, IAG reported that its full-year production hit the top end of its guidance, and I think that the best is yet to come for this company as it focuses on becoming an intermediate gold producer with a focus on low-cost, high-margin operations.\nAnother great thing is that its valuation is very cheap, and analysts collectively have rated it “Buy”. This rating comes with a 35.59% predicted increase for its stock price, to be reached within the next twelve months.\nOn Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.\nRead More: Penny Stocks — How to Profit Without Getting Scammed\nOn the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nMatthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.Penny Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/03/hot-penny-stocks-the-3-best-opportunities-to-invest-in-now/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2421297720"}