While seemingly going strong for much of the year, the stock market is weathering a rough few months that started in September, but there are some prime opportunities for penny stock traders to still be successful. Despite more than $5 trillion being wiped out from stocks and bonds in October, some stocks could actually be looking to bounce back. By taking interest in a few penny stocks, these could be on your radar to look to improve the remainder of this start and start out strong for 2019.
Turquoise Hill Resources Ltd. (TRQ)
The precious metals sector is falling out of favor for a few months now, but it is a sector that has an ebb and flow. TRQ is one of the best companies in this sector after having a brief look at their financials. The company mines copper, silver, and gold from a single mine in Mongolia. The company saw net earnings of $235 million in 2017. TRQ’s top-line revenue was $1.2 billion for the same period. A peek at TRQ’s balance sheet reveals $16 billion in assets and only $6 billion in liabilities. The company has rebounded a bit from lows of $1.66 but now is a great time to get into the stock. Previous lows reached in 2016 were around $1.80, which is where the stock is hovering in November.
Luna Innovations Incorporated (LUNA)
LUNA’s balance sheet is impressive with five consecutive quarters of year-over-year revenue growth. Analysts believe it could be an excellent growing stock for those with a medium to long-term outlook on the market. It’s worth noting that one detriment to LUNA is its response to market volatility. Right now, the stock is trading around the $3.25 price point, but analysts are looking at the stock trending upward to $4.00 and beyond in the coming months. That’s especially true if the company continues to show growth on its YoY revenue reports.
Avino Silver & Gold Mines Ltd. (ASM)
Another precious metals selection that appears on this list because of the mass exodus from the sector that happened back in October. The shares have declined from a year high of $1.61 down to just $0.66 now, but the company is showing some strengths that shouldn’t be discounted. Most investors are buying on up-ticks of this stock and selling on down-ticks, which means most investors believe the stock to be a bargain at this price point.
Celsius Holdings, Inc. (CELH)
Penny stocks are an inherently risky investment, but good fundamentals can help you decide if a company is worth investing. CELH is a purely speculative investment at this point, but it could net high returns in the future. The businesses’ success is tied directly to sales of its fitness drink called Celsius. Domestic sales for the drink were up 29% for a new top-line record and retailers have been more amicable to spending valuable shelf-space on the brand, which could definitely help spike sales. Remember, these picks are penny stocks and are highly speculative and volatile in nature.