Start the conversation
There are plenty of positive trends boosting penny stocks today. The greatest of these is the grand reopening of the economy as vaccines are distributed.
This is great news for our best penny stocks to buy now.
We've seen penny stocks double and triple when the economy wasn't locked down. For example, Biocept Inc. (NASDAQ: BIOC) popped 150% back in 2019 with the launch of a new healthcare product.
Now, think of today's top penny stocks as having the same potential, but with pent-up demand added and gains to make up for last year's losses.
This should be good news for the stock market and great news for the buyers of some of the more exciting low-priced stock opportunities.
A Winning "Popcorn" Penny Stock
Ballantyne Strong Inc.'s (NYSE: BTN) primary business is movie screens and audiovisual screens for schools, theme parks, and sports stadiums. Its core business was hit hard by COVID-19, especially the movie screen segment. Its production facility in Canada and was shut down for a period of time in 2020.
Many of its customers were also shut down by the pandemic. Really, it is hard to justify buying a new screen when it is against the law to let anybody into your theater or theme park to watch anything on the screen.
Although business picked up some in late 2020, movie theaters and theme parks are not back at full capacity.
That should change by the end of 2021.
There are other moving parts to Ballentine Strong that do not appear at first glance.
CEO Mark Roberson has been putting much of Ballantyne's cash flow into some of the companies owned by Ballantyne's largest investor, Fundamental Global Partners. These include Firefly, a company that works with taxi companies and rideshare drivers to put advertising displays atop their vehicles.
It also includes GreenFirst Forest Products, a lumber mill that should benefit enormously from strong lumber demand as the economy reopens.
Additionally, you have FG Financial, diversified insurance, reinsurance, and investment management.
Ballantyne also owns and operates Digital Ignition, a technology incubator and co-working facility in the Atlanta area. It opened the technology center not just to collect revenue from the startups using the facility – Digital Innovation also gives Ballantyne a chance to get to know potentially fast-growing start-ups and invest in the very early stages.
The reopening of movie theatres and theme parks will be a huge plus for this company in 2021.
Longer-term successful venture and startup investing could drive the price of the stock dramatically higher.
The Greenest Golf Penny Stock to Buy
Drive Shack Inc. (NYSE: DS) is another company that should see an enormous boost in revenue as the reopening continues.
Drive Shack operates 60 golf properties around the United States. It has been focusing on its Drive Shack driving ranges, and the new mini golf-focused Puttery brand. These are destination properties that combine golf-related activities with food and drinks.
Both focus on an adult crowd that will hit some golf balls, try a few putts, and stick around for cocktails and dinner.
Drive Shack has been selling some of this traditional golf course to focus on the more entertainment-themed golf facilities' higher growth potential. Management is particularly excited about the potential for Puttery, which is basically a sports bar with a mini-golf course attached.
Rory McIlroy, one of the top professional golfers in the world, will be partnering with Drive Shack to promote the Puttery brand.
People have been stuck at home for a long time now. As more of us get vaccinated and head out, Drive Shack will do a booming business.
Now, people need this next company more than any other to reopen. Here's the penny stock most likely to double your money.