It's not hard to find cheap stocks today. With some stocks down as much as 30%, many are calling it the buying opportunity of a lifetime.
But for investors who want to make significantly greater gains in less time, uninhibited by the viral outbreak, it could be time to look at penny stocks.
It's not hard to find cheap stocks today. With some stocks down as much as 30%, many are calling it the buying opportunity of a lifetime.
But for investors who want to make significantly greater gains in less time, uninhibited by the viral outbreak, it could be time to look at penny stocks.
The CBOE Volatility Index has gone as high as 70 over the last few months in response to the coronavirus outbreak.
It's declined to below 60 today.
And this is still an outrageously high level of uncertainty in the markets (compare to the 2019 average of 15.39).
This is good for penny stocks.
You see, penny stocks trade for under $5, by the SEC's definition.
That means they can see huge price movements in a short span of time.
This can be from a broader market move - the Dow Jones is up 4,000 points from Monday's low.
Or it can be from a breakthrough within the company.
For instance, shares of Inovio Pharmaceuticals (NASDAQ: INO) popped more than 300% in early March, after the company announced it was closing in on human trials for a coronavirus vaccine.
We had recommended the stock when it hovered around $4.
Readers had a chance to grab it then sell it at $17 in just a couple weeks.
If anything can be called "good" news while the coronavirus fear tanks the market, current stock lows could turn into double or triple gains a few months down the road.
Our top penny stock to buy today is one of those, with 227% profit potential this year.
The CBOE Volatility Index - or "Fear" Index - is above 70.
It hasn't gone higher than 30 since 2011.
The ongoing sell-off across the markets has many investors running for the hills.
But the recent downturn has pulled a number of high-upside stocks with potential to rally to all-time highs.
Among the stocks that offer tremendous upside are penny stocks.
Today's penny stocks to buy - currently priced under $6 per share - give investors low-risk, high-return potential that requires little capital to get started.
The coronavirus has brought volatility back to stocks.
While it might not seem like it, that's a very good thing for penny stocks.
Inovio Pharmaceuticals Inc. (NASDAQ: INO) has more than doubled since we recommended it last month - a 139% gain for our readers.
The company just announced human trials for a coronavirus vaccine.
Believe it or not, that's not the only penny stock making moves today.
The National Institute of Cannabis Investors expects legal marijuana sales to reach $2.6 trillion by 2030.
That's 23,974% growth from just $10.8 billion in 2018.
But you don't have to wait that long to profit from cannabis industry excitement.
Today, we're going to talk about a smaller, equally potent sector fueled by this trend: cannabidiol, or CBD.
And we'll even show you our top CBD penny stock to buy for 280% profit over the next few months.
Tesla Inc. (NASDAQ: TSLA) has gained 101% in 2020 so far. You hate missing runs like that.
And if you didn't, great! That just means you could earn even more with two of the best penny stocks to buy today - up to 154% profit potential.
The Dow lost 600 points when the news of coronavirus first broke in early January.
And the markets have been pummeled since then.
Today, the Dow could sink more than 200 points after Apple lowered investor hopes on news that its China supply chain will be affected.
But as our top penny stock today will show you, there is hope for curing the virus - and a profitable silver lining along the way.
Every investor's dream is to find the next "big thing."
Think Amazon.com Inc. (NASDAQ: AMZN) in the 1990s.
Apple Inc. (NASDAQ: AAPL) before it unveiled the iPhone.
And even Tesla Inc. (NASDAQ: TSLA) - it might not be profitable, but it certainly has snatched the attention of investors who are ready to shoot for the moon.
The legal marijuana industry could grow 513% by 2025.
Grand View Research says it could hit $66.3 billion by that time.
But the National Institute of Cannabis Investors predicts $300 billion "practically overnight."
In either case, this is an opportunity to turn pennies into millions.
And our best penny stock today could pop long before industry reaches its peak.
We're talking 427% profit potential.
The coronavirus is nailing the price of oil - it's lost 24% in the last month.
So then why did Money Morning's options trading specialist, Tom Gentile, just call the oil industry a cash cow?
Tom's got his own play on the oil industry.
He believes oil could not only bounce back, but even rise significantly in 2020.
For the same reason, there's an opportunity in our best penny stock to buy today as well.
It's a penny stock poised for at least 95% return.
The cloud computing industry is expected to be worth over $600 billion in 2023.
And one of its most important companies could double in the next year.
This top penny stock could pop more than 104% in just 12 months.
No telling where it will climb in the years to come...
Some investors believe Tesla Inc. (NASDAQ: TSLA) it will generate $1 trillion in 2030.
But it might be too late for you to get in on that wild ride.
One of our top penny stocks right now could be even more opportunity than Tesla.
And it's the perfect time for you to pick it up.
The Dow Jones Industrial Average closed Friday over 600 points in the red on worries of the new coronavirus epidemic.
But suddenly, it's back with a more than 150-point rally.
As usual, Wall Street lost grip of reality for a moment, then gained some of it back.
This showed us again there are always opportunities in the stock market, even when it looks like a world on fire.
Amazon.com (NASDAQ: AMZN) is now worth $1 trillion after a crushed earnings report.
Once again, it's showcasing the role of e-commerce in the American economy.
Shares topped $2,000 this morning.
And that's great if you've been buying Amazon stock for a while.
But it might be out of reach for many investors.
Investors who rival the returns of Amazon over the last decade can consider penny stocks.
Our best penny stock to buy right now has growth potential of 367%.
