What are the Top Performing Penny Stocks of the Year?
Penny stocks are the stocks that are traded at a very low price, usually below $5. These stocks are generally considered to be high-risk investments due to theirvolatilityand lack of liquidity. However, they can also offer high potential rewards if invested in wisely. In this article, we will explore the top-performing penny stocks of the year, along with some tips forinvesting in penny stocks.
Top-performing penny stocks of the year:
1. Genius Brands International Inc. (GNUS) - This company, which produces children's media content, saw a surge in its stock price due to the popularity of its animated series "Rainbow Rangers." The stock price of GNUS rose from $0.21 to $11.73, a whopping 5,471% increase.
2. Eastman Kodak Company (KODK) - Kodak's stock price rose from $1.50 to $60.00, an increase of 3,900%. The company saw a surge in its stock price after it announced that it would be entering the pharmaceutical industry to produce generic drug ingredients.
3. Remark Holdings Inc. (MARK) - Remark Holdings, a technology company specializing in artificial intelligence, saw its stock price rise from $0.29 to $3.64, an increase of 1,155%. The company's stock price surged after it announced partnerships with several major Chinese companies to implement its AI technology.
Tips for investing in penny stocks:
1. Do your research - Before investing in any penny stock, it is important to research the company thoroughly. Look at the company's financial statements, management team, and industry trends to determine if it is a good investment.
2. Be prepared for volatility - Penny stocks are known for their volatility, and their prices can fluctuate wildly. It is important to be prepared for this and to have a strategy in place for managing risk.
3. Diversify your portfolio - Investing in penny stocks should be part of a diversified portfolio that includes other types of investments, such as large-cap stocks, bonds, and real estate.
4. Have a long-term perspective - Penny stocks are not a get-rich-quick scheme. It is important to have a long-term perspective and to be patient with your investments.
Penny stocks can offer high potential rewards for investors who are willing to take on the risk. However, it is important to do your research, be prepared for volatility,diversify your portfolio, and have a long-term perspective when investing in penny stocks. By following these tips, investors can increase their chances of success in this high-risk, high-reward market.