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By GARRETT BALDWIN, Behavioral Trading Specialist, Money Morning • March 16, 2020
Dear Red Alert Reader,
The markets have been in an incredible free fall over the last three weeks. But with sharp pullbacks come unique opportunities to buy stocks for the long haul.
There's been an insider buying trend in one of these top penny stocks recently. And it could mean a 100% pop is in store for that penny stock next year.
One of the best ways to identify breakout penny stocks – particularly in the face of a crisis like the COVID-19 pandemic – is to eye insider buying by corporate executives and insiders. We like to take a look at what company insiders are doing right now with their money.
After all, who knows the short-term and long-term outlook for a company more than the people who run it?
This week, we're looking at one penny stock – trading under $5 – that offers tremendous upside in the next 12 to 15 months. We focus on these inexpensive stocks because just a small investment has the potential to pay off huge in the long term.
Nowhere Else on Earth Can You Turn a Stake This Small into $10 Million
A decade ago, a $3 stake in this market could’ve landed you firmly in the 1%. And now, due to a special set of rare circumstances, this niche sector is entering its next phase of incredible growth. Wait until you see what’s in store for 2020…
Top Penny Stock to Buy
Perhaps there is no greater "coronavirus stock" than Armstrong Flooring Inc. (NYSE: AFI). After all, the Pennsylvania-based flooring company installed the flooring for hospitals in Wuhan, China, where doctors are treating patients with the virus. The company is part of a group of rapid-response companies building facilities to treat the outbreak across the world's second largest economy.
That said, shares have been under immense pressure over the last 52 weeks due to concerns about economic growth around the globe. Following the breakout of the coronavirus in the United States, shares have tanked all the way down to $1.12 at their lowest levels. But shares have bounced back – thanks in part to the confidence of its executives. Today, its president and CEO purchased more than $166,000 in shares, while its CFO, head of human resources, and four other leaders purchased large stakes of stock.
Shares popped more than 20% on the news. While the prospect of economic growth does weigh on a firm like this, it also has proven its ability to assist in treating this outbreak. Shares could easily climb back to the $3 range in the coming weeks. That would represent another 20% in gains.
Once we begin to see a correction to the upside, this company could also become an acquisition target for a private equity firm or a competitor – given its international reach. There is good reason to project that the stock will return to around $5 by the second quarter of 2021, which would return more than 100% for patient investors.
Action to Take: The coronavirus is deeply hurting the markets these days. And it could get worse before it gets better. But there are still some hidden gems set to double over the next year. You can spot them if you watch closely for insider buying within companies. One of these stocks is Armstrong Flooring Inc. (NYSE: AFI). You can pick it up for $1.12 right now.
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