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Chances are you've ordered something online recently. Amazon.com Inc. (NASDAQ: AMZN) had to hire 175,000 new workers to meet a surge in demand this year.
That's major fuel for our best penny stock in 2020. In fact, this one could grow 104% in just seven months.
But it won't stop there. We're talking about a trend set to outlast the pandemic. It's going to transform domestic shipping as we know it…
You see, there is a world where you don't leave your house for much besides a concert, a walk in the park, vacation, or dinner with friends. As the pandemic lockdown keeps us from doing even those things, we're getting a glimpse of what an all-delivery world might look like.
2020 was probably the first time many families bought groceries online. Vendors like Whole Foods and Aldi get everything you want, right to your doorstep.
But the question every investor should be asking is, "How do they get there?"
That's something our top penny sock today tries to answer. Here's why one of our best penny stocks to buy is headed for 104% gains this year…
The Best Penny Stock and Electric Vehicles
By 2027, the electric vehicle (EV) industry could grow by 393%. And a large part of that is the delivery industry.
From 2013 to 2018, the number of EVs on the road went from 100,000 to 1 million. Between 2017 and 2018, the number grew by 81%.
We recommended a carmaker that's down to penny stock levels due to the pandemic. That one is still poised to capitalize on the EV movement. But this one is different.
COVID-19 lockdowns inspired a lifestyle change that's kicking a new billion-dollar market into high gear – and this stock is the best way to play it. Get the pick here – it's free…
Rather than relying solely on consumer demand for EVs, it's looking forward to environmental initiatives form governments and corporations. The more these large organizations start to focus on clean energy, the higher this penny stock will climb.
Jeff Bezos announced last year that Amazon would buy 100,000 electric delivery vans from Rivian, an EV startup, last year. FedEx Corp. (NYSE: FDX) is getting 1,000 EVs from another startup, Chanje.
Both of these companies are private. But there is still a way to get in on this growth industry for 104% profit this year. You might expect even greater leaps in the years to come, when you see what it's already doing.
This penny stock just beat analysts' earnings expectations by a whopping $0.19 per share for Q1 2020. But it's looking forward to an awesome catalyst in a few months.
The best penny stocks, because of their low prices, can make huge percentage gains on a small bit of good news. And this might be the best news…
The Best Penny Stock in 2020
About the Author
Mike Stenger, Associate Editor for Money Morning at Money Map Press, graduated from the Perdue School of Business at Salisbury University. He has combined his degree in Economics with an interest in emerging technologies by finding where tech and finance overlap. Today, he studies the cybersecurity sector, AI, streaming, and the Cloud.