The Best Penny Stock to Buy Before Oil's Huge Rebound - 177% Potential

The novel coronavirus is nailing the price of oil - it's lost 24% in the last month.

So then why did Money Morning's options trading specialist, Tom Gentile, just call the oil industry a cash cow?

Tom's got his own play on the oil industry. He believes oil could not only bounce back, but even rise significantly in 2020.

For the same reason, there's an opportunity in our best penny stock to buy today as well. It's a penny stock poised for at least 95% return.

In fact, that's the average analyst projection. Others point to upwards of 170% potential.

And because this is a penny stock, that growth is going to come quick.

Due to their low share price - anywhere under $5 - penny stocks can make big percentage changes in a short amount of time. This can happen on any news, whether it's industry-wide or international.

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For example, last November, Senmiao Technology Ltd. (NASDAQ: AIHS) was one of our top penny stocks. It soared 268% when the Dow Jones hit a record high in November.

Another one of our best penny stocks, BioNano Genomics Inc. (NASDAQ: BNGO), added 107% the moment its product was bought by a major university in October.

And today's penny stock is perfectly positioned to profit from a big, oncoming industry shift. That means a breakout is all the more likely.

Here's why the oil industry will bounce back - and the 177% penny stock you can grab before it does...

Why the Oil Industry Is Still a Profit Opportunity

Oil is still holding above the $50 level. And this is a great sign. It means oil is at a nice discount before it bounces back.

Tom Gentile uses the United States Oil Fund LP (NYSE: USO) to show how the price of oil reacted when hitting similar levels last year. When USO reached support levels in June, August, and October of 2019, the stock rallied 20% to 30%.

But this is more than a technical observation. You see, as the coronavirus scare fades over time, travel will kick up again, and oil stocks will rally.

Tom Gentile just shared how you can profit in this situation by trading options on the oil industry. But if you want to earn quick cash with stocks, this oil penny stock could more than double your money...

The Best Penny Stock to Buy for an Oil Revolution

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Tom Gentile says even though oil prices are low, demand isn't going away. And it's soon to climb even higher.

And when it does, the American oil industry is ready to meet it.

W&T Offshore Inc. (NYSE: WTI) is a Houston-based oil and natural gas company. It does everything from exploring to marketing to drilling oil in the Gulf of Mexico.

W&T specializes in extracting from hydrocarbon deposits in its areas. The company has been doing it for over 35 years. And that makes it one of the premier oil companies as American drilling expands.

It currently operates 48 natural gas and oil fields and maintains 650,000 acres' worth of land.

Last summer, the company acquired a large part of ExxonMobil Corp.'s (NYSE: XOM) Gulf Coast operations for $200 million. For that, it gets nine of Exxon's production fields in that area. And that's going to do wonders for its bottom line.

That's why analysts have given the stock a target of $7.75 from today's share price of $3.96. That's 95% growth. Some even say it could reach $11, which would represent 177% for today's investor.

Action to Take: Penny stocks offer a unique profit opportunity. WTI is a perfect example. Buying shares of WTI can deliver up to 177% profit potential as the oil industry grows. Because penny stocks are speculative, we recommend never using more than 2% of your investing capital on penny stocks.

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