One of the Top Penny Stocks in July 2019 Could Pop 92%

We've searched the top penny stocks in July 2019 and found the one with the most breakout potential.

And the breakout potential in penny stocks can be hugely profitable.

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One week in June, Insys Therapeutics Inc. (OTCMKTS: INSYQ) was the top penny stock. It climbed only $0.13 per share - but remember, penny stocks sell for $5 or less, by the U.S. Securities and Exchange Commission's definition. So at those prices, even small moves can mean big upside for stockholders. In fact, that $0.13 per share translated to 105% growth in the stock price.

Now, of course, investors should remember that penny stocks can swing down by the same amount as well. Penny stocks are a risky asset class, and only investors with strong risk tolerance should invest in them.

But INSYQ was not the only penny stock that gained that week.

Take China Internet Nationwide Financial Services Inc. (NASDAQ: CIFS), which rose by more than 77% - or Moneygram International Inc. (NASDAQ: MGI), which jumped over 68%.

All impressive, right? But our recommendation for the top penny stock to buy in July 2019 could rise 92% from its current levels.

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To help us find the best penny stocks to buy, we use the Money Morning Stock VQScore™ system. It measures the earnings potential of thousands of stocks and then provides a rating for each.

Our current top penny stock pick has a VQScore of 4.75, the highest possible. So the time to buy it is now, while there is potential upside of 92% still on the table.

The Top Penny Stock to Buy in July 2019

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Norway-based Golden Ocean Group Ltd. (NASDAQ: GOGL) is engaged in the international shipping industry. The stock recently jumped from $5 to $6.24 - just barely above penny stock territory - but we expect it to soar even further.

GOGL owns more than 70 vessels. The fleet is positioned to benefit from the worldwide boom in shipping. Last year, the worldwide shipping business rose 3.7%, the most in seven years. The growth is good news for investors.

Consultants at McKinsey & Co., a leader in shipping industry analysis, forecast that the shipping industry could grow 3.2% annually for the next decade.

Golden Ocean Group is positioned to be one of the leaders benefiting from this growth.

Now, Golden Ocean did post losses for three consecutive years. However, in 2018, it returned impressively to profitability, with a gain of $84 million. It's a good sign the analysts are onto something, and this company is benefiting from the growth in shipping.

The company is planning to add 20 ships to its fleet as a long-term investment in global growth.

Wall Street analysts forecast that the shares could rise as high as $12, a 92% climb from the current levels.

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