Who got rich off penny stocks?
There are cited examples of individuals who did get rich off penny stocks. In 2013, for example, CNN Business first reported about Tim Grittani, who turned $1,500 into more than $1 million off penny stocks at the age of 24.
Can you make money on penny stocks? It is possible to make money with penny stocks. Then again, it's technically possible to make money with any type of stock. Successful investors usually focus on the potential for their stock picks, regardless of price, to gain value over the long term.
Name | Sub-Sector | Market Cap (Rs. in cr.) |
---|---|---|
Suzlon | Renewable Energy | 47,954 |
Alok Industries | Integrated Textile Company | 10,343 |
Jammu & Kashmir Bank | Banking | 13,176 |
Reliance Power | Power Generation | 8,183 |
Name | Price | 1Y Return |
---|---|---|
Empower India Ltd | ₹2.83 | 1637.5% |
Indian Infotech and Software Ltd | ₹2.59 | 66.67% |
JCT Ltd | ₹3.85 | 39.02% |
Comfort Intech Ltd | ₹9.00 | 191.39% |
Name | Price | Analyst Price Target |
---|---|---|
OCGN Ocugen | $0.54 | $7.00 (1201.12% Upside) |
YS YS Biopharma | $0.42 | $5.25 (1152.98% Upside) |
LIFE aTyr Pharma | $1.97 | $23.50 (1092.89% Upside) |
GOSS Gossamer Bio | $0.87 | $10.33 (1087.36% Upside) |
Do penny stocks ever "go big"? Penny stocks can certainly "go big," but the problem is these parabolic moves are usually short-lived. Penny stocks frequently double or triple in price in short periods, but these companies usually have a very bleak 5-year chart.
Stocks trading for less than $10 can be attractive for investors looking to scoop up some cheap shares. Unfortunately, quality stocks at that price point are few and far between and can be a red flag for investors that something is wrong with a company.
Speculative stocks aren't for the faint of heart. However, it remains true that penny stocks do make investors rich. They remain one of the quickest ways to multiply an investor's capital. If you can get past limited disclosures and liquidity issues, real money can be made by investing in penny stocks.
Stock Symbol | Market Price Rs | 1-year Returns (%) |
---|---|---|
NTPC | 177.90 | 24.38 |
HINDUNILVR | 2,535.00 | 22.04 |
LT | 2,169.00 | 21.23 |
EICHERMOT | 3,000.05 | 21.08 |
Company | YTD returns (%) |
---|---|
Aurionpro Solutions | 478 478 478 |
Titagarh Railsystems | 376 376 376 |
Jindal Saw | 321 321 321 |
Inox Wind | 278 278 278 |
What are the 10 best penny stocks to buy?
- Vikas Ecotech Ltd. Vikas Ecotech generated an impressive operating revenue of Rs. ...
- Comfort Intech Ltd. ...
- Rajnandini Metal Ltd. ...
- G G Engineering Ltd. ...
- Indian Infotech and Software Ltd. ...
- Genpharmasec Ltd. ...
- Accuracy Shipping Ltd. ...
- Goyal Aluminiums Ltd.
- Plug Power (PLUG): +28%
- Joby Aviation (NYSE:JOBY): +14.5%
- Lucid Group (NASDAQ:LCID): +7%
- Soleno Therapeutics (NASDAQ:SLNO): +4%
- Terran Orbital (NYSE:LLAP): -1.5%
- Average: 10.3%
- Alok Industries Ltd. (2.22) ...
- Inventure Growth Ltd. (0.20) ...
- Ajooni Biotech (4.85) A high-flying biotech stock with exciting research, but buckle up for volatility! ...
- Nyssa Corporation Ltd. (0.30) ...
- Advik Capital Services Ltd. (0.51) ...
- CES CESC Ltd. ...
- Genpharmasec (4.89) ...
- Sulabh Engineers Ltd.
- List of top 5 Stocks for 2024.
- HDFC Bank Ltd. Company Overview. Key Growth Factors. ...
- Wipro Ltd. Company Overview. Key Growth Factors. ...
- Titan Company Ltd. Company Overview. ...
- Hindustan Unilever Ltd. Company Overview. ...
- IRCTC Ltd. Company Overview. ...
- The Bottom Line.
These penny stocks are Integra Essentia Ltd, G G Engineering Ltd, Deep Diamond India Ltd, Quantum Build Tech Ltd, Sungold Capital Ltd, Mahalaxmi Seamless Ltd, SKIL Infrastructure Ltd, and RLF Ltd.
Know your risk tolerance, find a suitable broker, perform due diligence and join a stock community to help you mitigate risk. You can make money on penny stocks by limiting exposure, treating them as short-term investments, buying those that have high liquidity, paper trading and more.
These stocks are not a way to get rich. They are more likely to send you to the poorhouse. Penny stocks are bad because many of the companies have unproven business models, they are illiquid, they are exposed to scammers, and they are very volatile.
It's rare for a penny stock to be a long-term buy-and-hold investment. The sector is built on short-term trades. If you notch a sizeable gain over a short period, book it now rather than waiting for bigger profits that may never materialize.
Penny stocks tend to be much riskier than other stocks.
Plus, they are often shares of unproven companies, where there's a very real risk of losing your entire investment. In other words, they simply are not worth buying for most people who want to invest in the market to take a reasonable risk and build wealth.
Some of the best Fast Money stocks to buy now according to hedge funds include Tesla, Inc. (NASDAQ:TSLA), UnitedHealth Group Inc. (NYSE:UNH), and Microsoft Corporation (NASDAQ:MSFT).
What stocks will double in 2024?
Nvidia (NVDA)
While it may seem strange to assert that Nvidia (NASDAQ:NVDA) stock has the potential to double in 2024 following its historic year in 2023, that is indeed the case. Analysts on Wall Street believe that the AI leader's shares could rise to $1,100 in 2024.
(NASDAQ: AAPL). Apple wasn't always one of the largest tech companies in the world. In fact, hardly anyone knew about the company and its products for years. Back in the early 2000s, AAPL traded for under 80 cents per share — a legit penny stock.
In addition to Tesla, Microsoft Corp (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN) and NVIDIA Corp (NASDAQ:NVDA) are among the top stocks hedge funds and Wall Street analysts are buying.
They can rebound emphatically when heavily shorted, rewarding those who invest judiciously during their undervalued phases. Amidst market volatility, investors, eager for robust returns, are increasingly drawn to these dynamic penny stocks.
S.No. | Name | CMP Rs. |
---|---|---|
1. | Guj. Themis Bio. | 341.45 |
2. | Refex Industries | 602.25 |
3. | Tanla Platforms | 991.45 |
4. | M K Exim India | 77.27 |
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