Penny stocks offer the potential for huge profits since they can grow quickly. Some of today’s biggest companies started off as lowly penny stocks. Picking the ones likely to climb can be a hazardous business, however, since most will end up losing money and simply fade away. Here are four penny stocks to consider with possibly big futures.
Inovio Pharmaceuticals (INO)
Once knocked as being too expensive, Vaccine treatment has been touted as the future of preventative medicine with advances in technology. Treatments are both more affordable and effective. Inovio is making good progress in this potentially lucrative area and is also in on the act of DNA vaccines. They are testing their vaccines on a number of different cancers and infectious disease trials such as HIV and Hepatitis C. The stock has had a bumpy ride the past year and currently sits under $1 but recently most of its movement has been up and if the clinical tests go well the stock could jump.
Himax Technologies (HIMX)
Himax is a tech company headquartered in Taiwan but listed on the Nasdaq. It is involved in producing semiconductors and is a market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, digital cameras, car navigation systems and many other consumer electronics devices. It’s also involved in the area of touch sensitive devices.
The stock has recently broken to a new 2 year high at around $3 as it reported 4th quarter earnings that beat estimates and is set to continue its growth this year.
Fortress International Group (FIGI)
Fortress International Group is priced at around $0.89 and is up over 90% since July 2012 following news that it will provide services to a leading transport authority in the Washington area. FIGI is to provide components, storage and charging of critical batteries in a $7-million contract over 5 years. If all goes well, it could pave the way for similar deals with transport authorities in other states all over the country.
Paragon Shipping (PRGN)
Paragon Shipping recently doubled in price to over $4 and has now receded to around $3.89. The jump was caused by an announcement of a funding agreement with Commerzbank and several other high profile lenders giving the dry shipping company $10-million in financing for new ventures. The stock has been heavily beaten up of late but did reach the lofty heights of $20 back in 2008. Now that the Baltic Dry Index is increasing (for the first time since November as result of an increase in demand for Iron ore from China and other places) the tide looks like it has finally turned and good times may be around the corner for Paragon again.
About the Author
Joe Budden is a financial analyst and professional investor with 5 years experience trading the financial markets. Budden started his career as a trader of stock indices and bonds in 2008 when stock markets imploded and now invests independently through his own fund. He is also a talented writer and stock advisor.