Top 10 Best Penny Stocks to Invest Your Money in 2021
Are you looking for a way to make some extra money this year? Are you interested in investing in the stock market but don’t want to risk too much money? Then penny stocks might be the perfect option for you! Penny stocks refer to stocks that trade for less than $5 per share and are usually associated with small-cap companies. While penny stocks are considered volatile and risky, they can also be highly profitable for savvy investors.
In this blog post, we will be discussing the top 10 best penny stocks to invest your money in 2021, based on their potential for growth and profitability. So, fasten your seatbelts, and let’s get started.
1. Acasti Pharma Inc. (ACST)
Acasti Pharma is a biopharmaceutical company that focuses on the research and development of drugs for the treatment of cardiovascular diseases. ACST is a hot stock in the market with a lot of potential for growth. The company recently announced a new drug candidate for the treatment of hypertriglyceridemia, a condition associated with high levels of triglycerides in the blood. This drug has shown promising results in clinical trials, and the company is expected to release it to the market soon.
2. Zomedica Corp (ZOM)
Zomedica is a veterinary diagnostic and pharmaceutical company that is making waves in the market. The company recently launched its first product, TRUFORMA, a diagnostic platform for pets. This platform has received a positive response from the market, and Zomedica’s stock has been on the rise. Experts predict that this stock is undervalued and has much potential for growth in the future.
3. Bionano Genomics Inc. (BNGO)
Bionano Genomics is a life sciences instrumentation company that specializes in genomic structural variation. The company recently launched a new product, the Saphyr system, which has the potential to revolutionize the field of genomics. The Saphyr system allows for the identification of large-scale genetic variations that are not detectable by other methods. Experts predict that BNGO is a good long-term investment due to the company’s innovative technology and growing market demand.
4. Electrameccanica Vehicles Corp. (SOLO)
Electrameccanica is a company that designs and manufactures electric vehicles. Its flagship product, the SOLO, is a single-passenger electric vehicle that has become popular among eco-conscious consumers. The company has reported increasing sales of its vehicles in recent months, and experts predict that it has strong potential for growth in the future.
5. Nokia Corporation (NOK)
Nokia is a well-known telecommunications company that has been around for decades. While its stock is not considered a penny stock, it is currently trading at a low price with a lot of potential for growth. Nokia has recently signed a contract with NASA to build a 4G cellular network on the moon, which has generated a lot of buzz in the market and is expected to lead to increased profits for the company.
6. Inpixon (INPX)
Inpixon is a technology company that focuses on indoor mapping and analytics. The company’s technology is used by various industries, including retail, healthcare, and hospitality. Inpixon recently secured a contract with a large retail chain, which has led to increased interest in the company’s stock. Experts predict that Inpixon has significant potential for growth due to its innovative technology and growing market demand.
7. ACI Worldwide Inc. (ACIW)
ACI Worldwide is a payment systems company that provides electronic payment and banking solutions to various industries. ACIW’s stock has been on the rise due to its recent financial results, which have exceeded analysts’ expectations. The company has also signed several new contracts, which are expected to lead to increased profits in the future. Experts predict that ACIW has good potential for growth in the long term.
8. Cyren Ltd. (CYRN)
Cyren is a cybersecurity company that provides cloud-based internet security services to individuals and businesses. The company has recently launched a new product, the Cyren Inbox Security, which provides protection against phishing attacks and other email-based threats. This product has received positive reviews from experts and is expected to lead to increased profits for the company.
FAQs
1. What are penny stocks?
Penny stocks refer to stocks that trade for less than $5 per share and are usually associated with small-cap companies.
2. Why are penny stocks considered risky?
Penny stocks are considered risky because they are volatile and often associated with companies that are still in their early stages of development.
3. What should I consider before investing in penny stocks?
Before investing in penny stocks, you should conduct thorough research on the company and industry, understand your risk tolerance, and invest only the amount that you can afford to lose.
4. Can penny stocks be profitable?
Yes, penny stocks can be highly profitable for savvy investors who are willing to take on the risk associated with them.
5. How can I find the best penny stocks to invest in?
You can find the best penny stocks to invest in by conducting thorough research and analysis of the company’s financials, industry trends, and market demand.
6. Is it wise to invest in only one penny stock?
No, it is not wise to invest in only one penny stock as it is important to diversify your portfolio to minimize risk.
7. How do I know when to sell my penny stock?
You should sell your penny stock when it reaches your desired profit margin or when the company’s financials or industry trends indicate a decline in its potential for growth.
Conclusion
Investing in penny stocks can be a risky but potentially profitable venture for savvy investors. It is important to conduct thorough research and analysis of the company’s financials, industry trends, and market demand before investing. The top 10 best penny stocks to invest your money in 2021 include Acasti Pharma, Zomedica Corp, Bionano Genomics, Electrameccanica Vehicles Corp, Nokia Corporation, Inpixon, ACI Worldwide Inc., and Cyren Ltd. Remember to diversify your portfolio to minimize risk and sell your penny stocks when they reach your desired profit margin or when their potential for growth declines. Happy investing!