5 Penny Stocks To Buy According To Analysts, Targets Up To 952%
Jerome Powell takes center stage today and tomorrow with his semiannual testimony. While it has brought plenty of volatility to the stock market, some asset classes are generally experiencing a bit more as a result. I’m talking about penny stocks and there are plenty to choose from.Click Here To Watch TTG Live On YouTube
Regarding small moves and significant percentage changes, stocks under $5 are where to look. At any given time, you’ll find some of these cheap stocks surging at incredible percentages but on relatively smaller moves in overall stock price.
One of the more recent examples was with a popular penny stock among retail traders this week, Troika Media (TRKA). Despite the penny stock pulling back aggressively on Friday, shares have moved as much as 900% since the end of December. The “crazy” part is that move came from a price change of less than $1.
The high-risk, high-reward nature of cheap stocks isn’t for everyone and, like all investments, should be researched thoroughly. However, stocks like TRKA and even the “OGs” like AMC Entertainment, GameStop stock, and Bed Bath & Beyond have given traders hope (and plenty of FOMO) that penny stocks can be well worth the risk if you know how to trade them.
In this article, we look at a handful of names that analysts have grown bullish on. These firms have looked into what’s going on with the companies and issued price targets with ratings to show the market what they think about them. It’s important to remember that analysts aren’t always right and, in many cases, can be completely wrong about their prospects. However, you can use ratings and their research as a part of your much more detailed due diligence process.