Here’s How To Find The Best Penny Stocks To Buy Now

best penny stocks to buy now

Aside from winning the lottery, or coming into some cash from an inheritance windfall, there are few ways that you can really explode your income and leave the rat race. But if you’ve ever casually googled best penny stocks to buy now, you’re probably already sold on the idea of using penny stocks to leave the rat race.

The big question is this. Can penny stocks really make you rich? The big answer is, unfortunately, not a one size fits all answer and here’s why.

Best Penny Stocks To Buy Now – Are They Lucrative?

best penny stocks to buy now cash

Penny stocks, defined as those securities that trade on the US stock markets for less than $5, can in certain circumstances, be very lucrative. This potential for profits comes with the inherent upside built into penny stocks. Unlike most stocks that are listed on the major big index boards, penny stocks are not fully priced for their upside potential. So, if you look for instance at a stock like Amazon.com, Inc. (NASDAQ: AMZN), you’ll see that it is trading for around $1,156 at this writing. When a stock becomes this expensive, it hardly multiplies its value by any remarkable increments. Often you’ll see stocks like AMZN trading higher by 1 or 2%. If you are lucky you might see big-board stocks like these go up 10%.

best penny stocks to buy now

The best penny stocks to buy now offer up some more exciting growth possibilities. Due to their inherently low valuations, they can offer astronomical upside, often delivering gains as high as 18,000%. But the truth is that with great rewards come great risks and penny stocks are inherently risky due their inherent volatility. This volatility causes many traders and investors to avoid them but that is a mistake. Adequately approached, penny stocks can provide solid opportunities for potential upside.  The trick to making them work is to do thorough due diligence. Not due diligence that involves reading a few news headlines or listening to talking heads on TV, but real, thorough due diligence that involves digging through the company filings for these companies. From company filings you can get a true picture of what a penny stock can offer in terms of upside.

Best Penny Stocks To Buy Now – Due Diligence and Hard Work

Due diligence of this kind is hard work, of course. This level of hard work can be off-putting for some people; but you shouldn’t let it put you off for a minute. Hard work is the grease that makes huge wins possible. Even people that win the lottery have to spend years playing the same numbers before they hit the jackpot. So long as you put in the right kind of hard work – yes, quality is important – you’ll see results. The key is sticking with the effort.

Best Penny Stocks To Buy Now – Shortcuts?

best penny stocks to buy now

Now, you might be tempted to take shortcuts and subscribe to a penny stock newsletter. But doing that comes with its own pitfalls. For one, you have to be aware that some newsletters are actually paid to promote the best penny stocks to buy now. This is an obvious conflict of interest so you then have to tread carefully when accepting advice from such sites. Also, when some newsletters are not doing the aforementioned paid promotion, they are just outright lousy newsletters. It’s really a toss-up between paid, conflicted advice and incompetence when it comes to determining negative impact. At TheStockDork.com we are never paid to promote a certain stock but feature stocks that we believe could have strong potential upside.

Looking for a legit newsletter for stock alerts and market updates? You can start by taking a look at this one. (shameless plug) It’s a 100% free to join so take a look today.

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