The Best Penny Stocks to Buy in September Have 300% Upside

Labor Day is now behind us, and we are in the home stretch of 2020. While I know most of us will be glad to put this crazy year in the rearview mirror for a host of reasons, a lack of incredibly profitable penny stock opportunities will not be one of them.

We have seen some spectacular returns for stocks under $5 since the market bottomed in March.

Just look as what Workhorse Group Inc. (NASDAQ: WKHS) has done since we recommended it on Jan. 30 for $2.76 per share. Since then, the stock is up to $23.30 (over 744%).

The best part is, I'm continuing to find wildly attractive situations today...

Thanks to recent market volatility at the end of last week and today, four penny stocks just popped up on my radar as "strong buys."

Here they are...

Penny Stock to Buy No. 4: LightPath Technologies

LightPath Technologies Inc. (NASDAQ: LPTH) makes specialty lenses and optics that are used in the industrial, commercial, medical, defense, and telecom markets.

LightPath is a telecom that is going to be a huge revenue driver in the near future as 5G network architecture requires closer-together network access points, leading to higher demand for lenses.

The company has several other core markets that provide regular cash flow.

WARNING: 22 million shares of this stock trade hands every day – make sure you’re nowhere near it. Click here to get the ticker...

LightPath currently owns 58% market share of optical lenses used in firefighting. It is also the leader in optics used in hunting and sporting scopes.

While the pandemic has presented some challenges, the company is still growing its backlog of orders. Manufacturing production has remained near capacity since February 2020.

Insiders are highly motivated to do whatever it takes to get the stock price higher. Officers and directors own 15% of the stock, and I think that number could soon increase to 20% to 25% thanks to the recent market correction.

This could help drive the stock 100% to 150% higher over the next year.

Penny Stock to Buy No. 3: Enthusiast Gaming

Esports and gaming are among the world's hottest trends right now. And North America's largest e-gaming company should see spectacular growth as the trend continues to accelerate.

Enthusiast Gaming Holdings Inc.'s (OTCMKTS: ENGMF) platform includes 100 gaming-related websites and 1,000 YouTube channels. It also has seven professional esports teams and conducts over 30 virtual and in-person gaming events worldwide.

Enthusiast recently closed on the acquisition of Omnia Media. Omnia is the world's largest digital-first media network curating content-serving fan communities passionate about gaming culture.

The acquisition brings an additional 90 million unique viewers per month and 3.2 billion-page monthly page views to Enthusiast websites. The deal also brings Enthusiast's total audience to more than 300 million video games and esports fans monthly.

The gaming industry is one of the industries that has actually benefitted from the pandemic. Stuck at home, many people have turned to gaming and esports as a source of distraction and entertainment.

Combining a transformative merger and new attention from the stuck-inside gamers could easily generate the type of excitement that could cause Enthusiast Gaming shares to show incredible gains over the next year.

The leading analyst following the stock has a price target that is 150% to 200% higher than the current stock price.

Penny Stock to Buy No. 2: NetSol Technologies

NetSol Technologies Inc. (NASDAQ: NTWK) is yet another low-priced stock that has the potential for massive gains.

NetSol makes software for the automobile financing and leasing, banking, and financial services industries.

The company offers NetSol Financial Suite (NFS), an end-to-end solution covering leasing and finance cycle for the asset finance industry, and NFS Ascent platform, a lease accounting and contract processing engine. These platforms help companies handle every step of the leasing and sales process.

Wall Street is not paying a lot of attention to this small company, but the handful of analysts who follow NetSol expect explosive growth.

Earnings should grow by over 25% year for the next five years as the leasing software pioneer continues to expand its nosiness worldwide.

NetSol plans to make its software available on a software as a service subscription model, and that should lead to an explosion in revenue and profits that could take the stock 250% higher over the next year or two.

Penny Stock to Buy No. 1

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We all are familiar with food service delivery services in bigger cities. Uber Technologies Inc. (NYSE: UBER), GrubHub Inc. (NYSE: GRUB), and other well-known delivery services are easily and widely available.

But in smaller markets, that not always the case...

That's where Waitr Holdings Inc. (NASDAQ: WTRH) has carved a niche for itself.

Waitr offers food and alcohol delivery in 640 cities like Alabaster, Alabama, and Victoria Texas - places that are not on the more prominent companies' radar screen.

Like all delivery services, Waitr has seen a boost in its business from the pandemic, and it is likely to pave the way for a prosperous future.

Once people in smaller towns become aware that the delivery option exists, they are likely to try the service. And I'm betting they will use it on a regular basis in the coming years.

Waitr turned a corner this year and began showing a profit. In the most recent quarter, the company earned $10.7 million, or $0.10 per diluted share.

That's compared to a $24.9 million loss, or a loss of $0.32 per diluted share. If WTRH comes anywhere close to matching analysts' growth targets, the stock could easily jump 300% from current levels.

20 Stocks We Like Even More Than Waitr

Top tech analyst Michael Robinson has pinpointed 20 stocks he believes could triple or even quadruple your money in a year as one of the most groundbreaking technological advancements of our lifetime becomes a reality: 5G.

These are not big companies or household names. In fact, some are so obscure that few people outside Silicon Valley inner circles have even heard of them.

Yet they have the potential to deliver up to 1,000% windfalls in a year's time for folks who get in on the ground floor.

To find out how you can get the names of these 20 stocks, click here now...

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About the Author

Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.

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