Penny stocks represent small businesses that are either just starting out or struggling to expand. Penny stocks are popular among retail and novice investors who are searching for low-cost investments with the potential to double their money many times over. These businesses usually have massive expansion plans in the works, as well as powerful catalysts on the horizon. Penny stocks are popular among novice traders because of their extremely low prices and potential for huge profits. When investing penny stocks, there is always the risk of fraud and losses, but there is also the possibility of huge profits if the company goes on to be listed on major markets. Penny stocks are currently trading at a 70% discount to their all-time high set in February. Retail investors are gravitating towards larger corporations as the stock market grows more volatile. Jason Paltrowitz of OTC Markets Group predicts a “leveling off” of trade activity in 2022.
Insider Monkey selected penny stocks based on the growth catalysts associated with these companies. MariMed Inc. is a solid option for traders interested in the cannabis business. This penny stock can help diversify portfolios that often include Microsoft Corporation and Amazon.com, Inc. MariMed has plans to open a third dispensary in 2022. MDM Permian, Inc. is a Texas-based oil and gas drilling business operating in West Texas’ Midland Basin. 100,000 barrels of oil might be extracted over the well’s life, which is a lucrative potential. Goodbody Health Inc. is a wellness company that offers laboratory-style testing to individuals by combining diagnostic testing technologies with current equipment. When it opened COVID-19 testing clinics for tourists, the company garnered notoriety. Non-carbonated beverages, cane sugar cola, and sugar-free sodas are among the drinks offered by Jones Soda Co. With the acquisition of Pinestar, the company will expand into the cannabis-infused beverage and edibles markets. Livewire Ergogenics Inc. is a prominent penny company with future growth catalysts, with a price of $0.0062. Makana Ola Farms in Humboldt, California, has been acquired by the corporation. For more details, click 10 Penny Stocks With Upcoming Growth Catalysts.
