Penny stocks are alluring equities because of their boom or bust nature and quick shifting share prices, but they are among the most risky trades an investor can make. The “penny stock” equity class is also at risk of manipulation since the share market caps and trading volume are typically much lower than stocks in the Russell 2000 small cap index and much lower than the S&P 500 constituents.
However, its important to keep an eye open for a potential breakthrough that could compound to serious gains.
Key Points:
- Penny stocks are risky but can produce significant gains.
- Sharp price movements without news could be a sign of a few players buying or selling large chunks of stock.
- If you’re looking for low-cost stocks to buy now and make significant profits later, stop your search. Check out our free, new Discover “The Next NVIDIA” report to learn about two low-cost stocks that could grow by 10x or more ahead!
September 10, 2024 Penny Stock Movers
Polestar Automotive (NASDAQ: PSNY) as been on the move today going from 5% up to down .3%. The company is a premium electric car brand founded by Volvo and Geely in 2017. Leveraging Volvo’s technology, it offers high-performance electric vehicles like the Polestar 2, 3, and upcoming models through 2026.
According to S&P Capital IQ, of 8 analysts covering Polestar, the consensus 1 year price target is $2.44, an upside of over 687.1%. The stock is a consensus “hold” with a 3 out of 5 rating.
Commscope Holding Company (NASDAQ:COMM), a global provider of infrastructure solutions for communication, data centers, and entertainment networks is up 3% on the day. Commscope notified investors its technology is being deployed by Mediacom to improve targeted ads and better video quality, which should help boost Mediacom’s ad revenue.
iLearningEngines (NASDAQ: AILE) operates an AI-driven platform for learning automation and information intelligence. It offers a cloud-based, mobile, and multimedia-capable platform used to deliver personalized learning and engagement modules.
The stock is up 66% as CEO Harish Chidambaran made public comments to correct perceived misstatements made by short seller Hindenburg Research on the companies accuracy of its financial records. Hindenburg wrote a report focusing on iLearningsEngines revenues and claiming the company falsified its financials.
The consensus price target for iLearningsEngines is $19.50. although the company is only followed by 2 analysts.
Maxeon Solar Technologies (NASDAQ: MAXN) is a global manufacturer of premium solar technology, offering high-efficiency solar panels and trading 5.56% higher today as Cypress Creek Renewables picked Maxeon for a utility scale project. Of the 4 analysts covering Maxeon Solar, the consensus price target is $0.80 per share with “hold” rating.
BloomZ Inc (NASDAQ: BLMZ) is a Japan-based company specializing in audio production and voice actor management. It provides audio production services and manages VTuber virtual character creation, allowing streamers to use their voice for real-time videos of human expressions.
The stock is up 17% on the day, continuing its rise since last week’s disclosure of a business alliance with CrossVision Inc. on creating entertaining offerings. The stock is up 226.80% the past 5 days.
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