Which penny stocks will skyrocket?
Asure (ASUR) Among high-potential penny stocks with tremendous potential, Asure Software (NASDAQ:ASUR) stands out after an amazing third quarter. The company's revenues increased by 34% in the last year to $29.3 million. This growth is the outcome of Asure's strategic mergers and effective business practices.
Asure (ASUR) Among high-potential penny stocks with tremendous potential, Asure Software (NASDAQ:ASUR) stands out after an amazing third quarter. The company's revenues increased by 34% in the last year to $29.3 million. This growth is the outcome of Asure's strategic mergers and effective business practices.
Grab (GRAB): Vastly improved its losses from the previous quarter and reported first-ever positive group EBITDA. Nokia (NOK): Despite withdrawing its guidance in December, the market seems bullish on its prospects. Senseonics (SENS): Has explosive revenue growth and analysts predict an over 100% increase for its share.
Here is the list of top gainer penny stocks this year: 1] Svaraj Trading & Agencies: This micro-cap stock has jumped 210% in 2024 so far. The stock trades at ₹20.13 apiece with a market capitalization of ₹29.69 crore on the BSE. It hit a 52-week high of ₹20.95 on February 8, 2024.
Of course, it is possible that you can become a millionaire from penny stocks, but you'll have to be extremely lucky or have access to information ahead of when general investors hear it.
YES Bank reported robust growth in profit for the quarter ended December 2023, with the bottom line surging more than four times year-on-year (YoY) to Rs 231 crore. Net interest income, the difference between interest earned and interest expended, rose 2.4% YoY to Rs 2,017 crore.
Before a stock explodes, its stock chart will show telltale signs like increased trading volume, specific patterns, and a strong trend reversal. Understanding technical analysis will help you trade penny stocks by giving you price levels to buy and sell strategically.
A good place to start is Wall Street Survivor's Investing Ideas page which lists various penny stocks. Another option is to use MSN's Stock Screener which allows you to filter stocks based on desired criteria like price per share. But it's also important to know how to find GOOD penny stocks.
"Red hot penny stocks" - perhaps the most common example - is used by tipsters to indicate they have identified cheap stocks which they believe will very shortly increase dramatically in value.
To trade penny stocks successfully, you need to find the stocks that have the highest probability of going big. For many traders, scanners are the best way to do that. Traders use stock screeners to narrow a huge list of available stocks to a small list with the characteristics they're looking for.
How do you find stocks that will explode?
Track a stock's relative strength
Breakout stocks typically outperform the market and their sector, indicating the potential for further growth. The relative strength index (RSI) is a commonly used technical indicator for gauging the strength of a stock compared to its peers.
It is possible to make money with penny stocks. Then again, it's technically possible to make money with any type of stock. Successful investors usually focus on the potential for their stock picks, regardless of price, to gain value over the long term. There are plenty of good reasons to invest in small companies.
According to a study by the SEC, only about 10% of penny stocks succeed in the long term. This means that a large majority of penny stocks do not perform well and may lead to significant losses for investors.
If your capital is limited, consider investing in blue-chip or dividend stocks to start. When you're starting with $1, you don't have much to lose. But limited capital means less padding for risky investments.
Yes Bank shares have been in uptrend after ushering in the financial year 2023-24. In FY 2023-24, Yes Bank has risen from around ₹14.75 to ₹23 apiece levels, delivering to the tune of 55 per cent in FY24.
Future Growth
Yes Bank is forecast to grow earnings and revenue by 42.4% and 22.3% per annum respectively. EPS is expected to grow by 50.1% per annum. Return on equity is forecast to be 9.5% in 3 years.
Shares of YES Bank Ltd took a U-turn during the trading session on Monday as the private lender gave up early gains and traded sharply lower following a muted set of numbers in the December 2023 quarter, below the street's estimates. Even a brokerage firm remains negative over the lender's outlook.
Wayfair Inc. (NYSE:W), Match Group, Inc. (NASDAQ:MTCH), and Palantir Technologies Inc. (NYSE:PLTR) are some of the stocks that will double in 2024, besides StoneCo Ltd.
These stocks are Shree Cement Ltd, Ceat Ltd, ACC, JK Cement Ltd, BEML Ltd, Motilal Oswal Financial and Birla Corp Ltd. Seven stocks out of the Nifty 50 basket have the potential to double their earnings next year, a Moneycontrol study has found.
AMZN boasts a Growth Style Score of A and VGM Score of A, and holds a Zacks Rank #1 (Strong Buy) rating. Its bottom-line is projected to rise 40.7% year-over-year for 2024, while Wall Street anticipates its top line to improve by 11.6%.
Has anyone ever got rich off penny stocks?
Speculative stocks aren't for the faint of heart. However, it remains true that penny stocks do make investors rich. They remain one of the quickest ways to multiply an investor's capital. If you can get past limited disclosures and liquidity issues, real money can be made by investing in penny stocks.
Sure, some penny stocks turned out to be massive success stories, like Apple, Ford Motor, and Monster Beverage. Find a similar success story like those top penny stocks, and you stand to make a fortune. However, you have to be willing to do the research to find them in a sea of duds.
Penny stocks tend to be much riskier than other stocks.
Plus, they are often shares of unproven companies, where there's a very real risk of losing your entire investment. In other words, they simply are not worth buying for most people who want to invest in the market to take a reasonable risk and build wealth.
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