Best Penny Stocks to Buy Now for 300% Growth

One of the side effects of this year's volatility has been stocks that trade for less than $5 are attracting tons of attention from investors. And one of our best penny stocks to buy now could pop as much as 300%...

The hiccup in the market last week has pushed some great companies to insanely attractive price points. Now that the rebound is setting in, these penny stocks can pop.

All that new volume is pushing many of these smaller stocks above that $5 cutoff line for penny stocks. When that happens, many of them attract institutional buyers from funds not allowed to own low-priced stocks.

That's when we can see some real fireworks for penny stock investors.

Let's look at three penny stocks that stand to gain the most right now.

A Rock-Solid Penny Stock Return

Concrete Pumping Holdings Inc. (NASDAQ: BBCP) is a company that will benefit from the eventual massive wave of infrastructure spending we need in the United States. Our roads, bridges, and highways are in terrible shape. It will take a lot of concrete to execute the repairs, and pumping concrete is what this company does best.

Concrete Pumping is also seeing some demand from the increasing pace of homebuilding.

Three stocks every investor should consider owning today, and dozens of stocks to drop immediately. Click here...

Anyone who can get out of the bigger cities is doing so, and super-low interest rates are helping the exodus. We were low on new home supply before the pandemic, and now builders are scrambling to meet all the new demand.

The U.S. concrete waste management services business, Eco-Pan, was the star in the most recent quarter, with revenue growing by 18% and cash flows by 34%. Eco-Pan helps contractors clean up job sites by delivering water-tight pans to job sites to collect concrete wash water and pick up the pans to deliver to recycling centers. It is the leading concrete waste management company in the country right now.

Unlike many penny stocks, Concrete Pumping already has several analysts following the stock. When the share price passes over the $5 mark, that analyst coverage should help bring institutional money into the stock to provide the buying pressure that can push the price dramatically higher.

For now, analysts give it a 12-month target of $6.50, an 83% return from today's $3.55.

Now, here's a best penny stock to buy today with 140% potential...

Big Tech Likes This Penny Stock

Rimini Street Inc. (NASDAQ: RMNI) is another company that doesn't look like it will remain a penny stock for very long, either.

Remini Street replaces traditional vendor support and enables licensees of Oracle, SAP, IBM, Microsoft, and other enterprise software to save up to 90% on total software support costs.

It is partners with the fast-growing customer relationship software company, Salesforce.com Inc. (NYSE: CRM).

Companies are starting to figure out that Rimini can save them money. Hyundai-Kia Motors expanded its support agreement with Rimini Street for its Oracle Database software to include all of its affiliates and offices overseas.

Elders, a leading agribusiness in Australia, has selected Rimini Street for support and maintenance of its SAP software. The Iyo Bank, Ltd., a major regional bank in Japan, recently switched to Rimini Street to support its Oracle Database system.

This is just in the past couple of months.

The company has been growing at 25% a year and is positioned to continue doing so for a long time. So far, no one has really noticed. When they do, the stock could explode 140% higher, from $4.18 to $10.

Now, our best penny stock controls a major niche that sets it up for 300% potential down the road...

Best Penny Stock Today for 300%

[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]

Daktronics Inc. (NASDAQ: DAKT) is probably not going to stay a penny stock for very long.

This company makes electronic scoreboards and video boards for sports teams at all levels. If your local high school has an electronic scoreboard, there is a pretty good chance it is from Daktronics.

It does a lot of pro teams' scoreboards and video displays as well:

  • Oklahoma City Thunder
  • Louis Cardinals
  • Tottenham Hotspur
  • Kansas City Chiefs
  • Green Bay Packers

These are just a few professional sports franchises for which Daktronics has installed the electronic displays. It's served hundreds.

Daktronics also makes electronic signage for various industries, including retail, churches, and government agencies. Electronic billboards are on its product list, too. The pandemic has slowed business at all levels. But this is business delayed, not business canceled for the most part.

Daktronics has helped deliver another product that will help parents and friends watch high school athletes in the no-fans-allowed COVID-19 era. Big Stream is the first streaming technology that creates a video signal to stream the video board content directly to the fans.

Daktronics created it to keep fans engaged while they support student athletes.

That should bring in some revenue in the age of COVID-19 and generate an enormous amount of goodwill.

Earnings will go higher when we get a vaccine and business returns to normal. Daktronics should see its stock price do the same with a potential gain of 200% or even 300% down the road.

Insiders have been betting big on enormous gains for the stock as well.

Three Stocks Even Better Than DAKT

Chief Investment Strategist Shah Gilani just held his first-ever stock-picking lightning round event - running through more than 50 stocks to tell you if they are stocks to buy or stocks to sell.

Dozens are overpriced and overhyped - you should ditch them ASAP.

But Shah says THESE three stocks are "screaming buys."

All three are trading at a discount... they're under-the-radar companies most people haven't even heard of... and they have massive tailwinds ready to send their share prices into the stratosphere.

To get the company names, tickers, and price targets for Shah's picks, go here now.

Follow Money Morning on Facebook and Twitter.

Recommended