What Are the Most Promising Penny Stocks to Buy Now? 3 Top Picks.

Rate this post

In 2023, the stock market is going up and down a lot. Many people who invest their money are trying to find companies that are not well-known but are selling their shares at low prices. These kinds of companies are often called “penny stocks” because their shares cost less than $5 each. Investing in penny stocks can be risky, but it can also bring big rewards.

The key is to do a lot of research to find the good ones that have strong foundations and can grow in the future. Right now, some of the best penny stocks are in areas like technology, biotechnology, and mining. These are small companies that offer products or services that could change entire industries. But because they are so small, big investors on Wall Street don’t pay much attention to them.

This means that smart investors have a chance to buy their shares at low prices. Also, most of the money that is willing to take risks has already gone into investing in Artificial Intelligence (AI), which leaves many good companies in other areas undervalued. So, let’s take a look at three penny stocks that seem very promising at this time.

Innovid Corp (NYSE: CTV)

Innovid Corp operates a software platform that is very important for advertising on both regular TV and smart TVs. The company’s stock price has been staying in a certain range since April, but recently it seems to be going up, almost 9% higher at the moment.

When Innovid first started selling its shares to the public in late 2021, it got a lot of attention, but it struggled because there weren’t many ads being shown, and people expected it to grow very fast. But things have calmed down now, and the price of Innovid’s stock probably reflects how negative people felt about it.

Even though Innovid is still losing money right now, it looks like it’s going to start making more money soon. This year, it’s expected to lose about 55% more money per share, but in 2024, it’s expected to make 15.4% more money, and that’s a good sign.

Also, it’s likely that the company will start making a profit in 2025. Right now, you can buy Innovid’s stock for a price that is equal to 1 times the amount of money it’s expected to make in 2025.

More good news is that advertising spending is going back to normal after the pandemic, and smart TVs are becoming more popular, which means that Innovid can make even more money. The company’s software is good at showing people ads that are right for them, and it can measure how well the ads are working.

This is very important because people are starting to watch TV in different ways, and companies need to find new ways to show them ads. Even though Innovid’s stock price went up recently, most experts who look at stocks think it could go up another 142% in the next year. It might be hard for it to go back to the price it used to be, which was over $10, but right now, it looks like it’s worth the risk if you want to invest your money.

Jerash Holdings (NASDAQ: JRSH)

Jerash Holdings is a company that has factories in Jordan where they make clothes for big brands all around the world. Over the past year, the price of their stock went down by more than 33%, but now it looks like it’s going to start going up again because the company is making more money.

Experts think that Jerash will keep making more money for the next few years, and the price of their stock could go up by 92% in the next year, and then by 105% in the year after that. But right now, investors don’t seem very sure about Jerash because the price of their stock is only 4.4 times the amount of money they’re expected to make in 2025, even though they’re going to grow very fast.

The company has won new contracts with big brands, and they also started a new business with a company in Indonesia that makes clothes. This can help them get even more customers. And they’re also looking at starting a new business where they dye fabrics.

This could make them even more money in the future. Plus, it’s cheaper to make clothes in Jordan compared to other places like China, so Jerash can make more profit.

Even though the price of their stock doesn’t look very high right now, most experts who look at stocks think it could go up by 79% in the future. I agree with them.

Ammo Inc. (NASDAQ: POWW)

Ammo Inc. is a company that makes bullets and also sells them online. Their stock price went up and down a lot after the pandemic, but it’s now up by 20% since the start of the year. However, it’s still much lower than it used to be in 2021, about 77% lower.

Ammo Inc. is not making money right now because they’re spending more than they’re earning. This year, their sales are expected to go down by 25%. But things are getting better because they’re going to start making a profit next year, and they’re also going to grow by 9%.

The reason why this company is important right now is because there’s a lot of conflict in Ukraine, and that has caused a big demand for bullets. But the companies that make bullets can’t keep up with how many people want to buy them because it takes a long time to make bullets and the supply chain is not working well.

It could take years for companies like Ammo Inc. to make enough bullets to sell. But when they do, they can make a lot of money, especially if there is more conflict in the world. Even if we don’t think about that, Ammo Inc. can still grow a lot because people in the United States will keep buying bullets for a long time, just in case there’s more fighting in the future.

The experts who look at stocks think that the price of Ammo Inc.’s stock could go up by 65%, but I think it could be even more if things go well for the company. If you’re willing to wait a long time, buying Ammo Inc.’s stock could be a good idea.

In conclusion, penny stocks are a risky but potentially rewarding way to invest your money. It’s important to do your research and understand the companies you’re investing in. The three penny stocks mentioned here – Innovid Corp, Jerash Holdings, and Ammo Inc – all have their unique potential for growth, but they also come with their own set of risks.

Make sure to consider your investment goals and risk tolerance before deciding to invest in any penny stock. Always remember that investing in the stock market carries inherent risks, and it’s important to consult with a financial advisor or do thorough research before making any investment decisions.

Leave a Comment