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You can profit from the volatile market with penny stocks. In fact, one of our top penny stocks to watch in September could rocket 163% higher despite a turbulent market.
On Sept. 1, the U.S. Trade Department put a 15% tariff on an extra $112 billion of Chinese products. This trade war continues to hurt the world market, having dropped the Nasdaq over 2.5% through August.
Of course, volatility has pushed investors to seek defensive investments for protection. The Volatility Index (VIX) shot up over 20 points, spreading doubt through the market.
But some of the top penny stocks to watch are thriving.
Because of their low price, penny stocks boom with volatility. The smallest movement can bring triple-digit returns for savvy investors
To help our readers profit, we have three penny stocks poised to take off.
And our top penny stock to watch in September could soar as much as 177% higher…
Top Penny Stocks to Watch Now, No. 3: BGC Partners
The company is a global financial tech and brokerage firm. Its products and services include fixed income, equities, foreign exchange, commodities, brokerage, and futures. It also offers back-office financial tech products. Some of these are Credit Match, Capitalab, BGC Trader, Fenics, and EMBonds. In 2007, the firm set up an office in Seoul, South Korea. Soon after, it opened the first inner-dealer brokerage in Istanbul, Turkey.
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In 2015, BGC saw $160 million in profits. Now, it has $194 million in profits. The firm is laser-focused on technological innovation worldwide. This perfectly positions it to profit from the global trading boom.
IBISWorld revealed the digital brokerage sector could grow 6.2% over the next five years. This growth is predicted to produce annualized returns of $313.4 billion.
This top penny stock to watch trades at $5.62 per share today. But analysts say it has a potential upside of 60.1% over the next 12 months.
That's a terrific return. Yet, this next penny stock could do even better.
Top Penny Stocks to Watch Now, No. 2: Resolute Forest Products
It produces paper, pulp, construction-grade lumber, and specialty papers. Resolute is a supplier in more than 70 countries. It stands out from the crowd through its high-quality products that have low environmental impact.
RFP has the potential to become one of the world's largest sustainable makers of wood-based products.
Last year, its bottom line was $235 million. Thanks to its commitment in cutting costs, it boosted its operating income by an astounding 736%.
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The company has a price/earnings (P/E) ratio of 10.86, which is great compared to its historic average of 14.87. This is an indicator that the stock could see breakout growth.
This top penny stock to watch trades for $4.79. Analysts say this one could jump 97.9% over the next year.
But our top penny stock to watch could go as high as 177%…