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7 Undervalued Penny Stocks to Buy Now

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Top 7 penny stocks to buy now for potential gains.

penny stocks

If you're looking for penny stocks to buy, you're not alone. One of the main attractions to this niche in the stock market today is the potential to make big gains with very small investments. The best penny stocks to buy under $5 don't necessarily have to be the riskiest of bets, but caveat emptor still applies.

A penny stock is unsurprisingly priced in pence not pounds. These tend to be smaller market capitalisation companies, and are typically high-risk investments due to their illiquidity and lack of research coverage. This can make them attractive to investors as there is often a wide range of potential returns.

Investing in Environmental, Social, and Governance (ESG) stocks is becoming increasingly popular as more and more individuals and organisations seek to do their part in protecting the planet. Companies are increasingly being held to higher standards with regards to their environmental and social responsibilities, and those that are able to meet them are well-positioned to succeed.

Originally Posted: 2/14/2023 8:30 AM ET. Whether you're trading penny stocks or large-cap stocks, the highlight of this week is the January jobs report. The data shows that the unemployment rate fell to 6.3%, which is the lowest it has been since the pandemic began. However, the job creation rate was slower than expected. So while the report was positive overall, it did not have the same impact as some had anticipated.

SoFi reported 60% sales growth for 2022 but is far removed from profitability. See why I would not be surprised if SOFI returns to penny stock status soon. The company’s services are becoming more popular, and the company is taking steps to expand its offerings. However, the lack of profitability is a major concern.

Every investor is in the stock market to find a solid return. That's the bottom line, and while it sounds simple, the trick is finding stocks that are undervalued but also have the potential to rise in price. Here are seven heavily shorted penny stocks that can potentially witness a sharp reversal rally in the foreseeable future.

  1. XM Financial (XMSF)
  2. CVC Technologies (CVCT)
  3. Pareteum (TEUM)
  4. Gazprom (GAZP)
  5. Endeavour Silver (EXK)
  6. BioAmber (BIOA)
  7. LaneAxis (AXIS) Although speculative trades should be left alone, these are the penny stocks to buy that even Wall Street can't ignore. All of these companies have the potential to produce significant returns in the long-term, but there are inherent risk associated with Investing in penny stocks, so be sure to do your due diligence before Investing.

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