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The stock market soared to new all-time highs last week as the S&P 500 went on a 1.3% rally.
But the broad market averages are still hanging around record levels, and it could send our top penny stock to buy this week soaring 171%.
The United States and China are nearing a "phase one" trade agreement. Even if it's only a first draft, it could be a significant move to end trade tensions.
This will not only send the market upward, but it will directly fuel our best penny stock to buy 171%.
Because of their low share price, a gain of a few cents can be a huge percentage change in a penny stock's price. Penny stocks can rise on big industry news, or they can catch the broader market tide on the upswing.
For example, one of our top penny stocks from November, Senmiao Technology Ltd. (NASDAQ: AIHS), gained 268% when the Dow Jones hit record highs last month. That's just one example of a huge profit opportunity with penny stocks.
The best penny stock to buy this week is directly impacted by the success of U.S.-China trade talks, but it will also get an added boost as the broad market averages rise.
The Top Penny Stock to Buy This Week
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Corporacion America Airports SA (NYSE: CAAP) is an international airport operator responsible for airport operations and management.
It's the biggest private-sector airport concession company in the world, based on a tabulation of the number of airports managed. Corporacion has enjoyed terrific growth over the past half-decade, as the popularity of air travel has risen.
Two years ago, the airports managed by Corporacion served roughly 77 million passengers around the world. The number of passengers has climbed consistently, by about 1.5% each quarter, since then. The result makes CAAP one of the most rapidly growing global operators of international airports.
Corporacion's website indicates that the company has a wide array of operations, with services in architecture, aeronautical and commercial operations, corporate finance, and government affairs.
The wide scope has been beneficial, as the company's revenue totals have increased by 21% over the past three years.
Profits are the chief reason that analysts have placed a target price of $11 on the stock - a whopping 171% advance from the current $4.05 share price.
CAAP has been hurt by the trade tensions simply because it is in the international arena. That's created headwinds for the share price. But if the United States and China do ink a trade pact, the company could benefit from tailwinds.
In fact, if business increases between the two major economic leaders in the world and economic gross domestic product also climbs, the share price in the future could be even higher.
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