The coronavirus hasn't hurt the markets like the mainstream media thought it would. And it still won't.
The Dow closed Friday over 600 points in the red on worries of the new coronavirus epidemic. But suddenly, it's back with a more than 150-point rally.
As usual, Wall Street lost grip of reality for a moment, then gained some of it back. This showed us again that there are always opportunities in the stock market, even when it looks like a world on fire.
Our top penny stock today is poised to not only survive the coronavirus, but break out with 136% gain from its eradication.
This is a heartbreaking situation around the world with more than 17,000 cases and over 300 deaths. But authorities are still trying to see if the death rate is enough to call it a pandemic just yet.
The fatality rate is still around 3%, less than MERS, which killed one in three, and SARS, which killed about one in 10.
But Wall Street seemed to forget that there is more to the market than travel and casinos (the industries most affected by the outbreak).
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There is still hope for reining in the coronavirus. In fact, the top penny stock to buy today is ready to double on efforts to stop its spread.
The White House recently fast-tracked the coronavirus vaccine, hoping for first-stage trials in as little as three months. China has also enlisted pharmaceutical companies to get the job done.
If trials succeed and a successful vaccine is eventually carried out, Wall Street may react just as quickly as it did on news of the outbreak – but this time positively.
A year was reported as the minimum time it will take to develop a vaccine. And that silver lining is reflected in the 12-month target for our top penny stock.
But even as fears continue to weigh the market down, this stock is poised to more than double.
Why This Penny Stock Could Double
You see, when one of the best penny stocks to buy gets a catalyst, it's likely more than a simple 30% to 40% profit for investors. Because penny stocks trade under $5, small changes amount to huge percentage gains.
That's why the top penny stocks today are more likely to double or triple on big news.
For example, one of our top penny stocks last year, General Moly Inc. (NYSE: GMO), soared 107% in a single week just because uncertainty ran high on the China trade war and the volatility index (VIX) ramped up.
Well, the VIX has climbed from 12 to 18 since the coronavirus began. And this penny stock is going to see a big swing in the positive direction.