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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.
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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%
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.