3 Penny Stocks Ready to Explode Into Dollar Signs by 2028
Some companies become penny stocks by listing on over-the-counter markets to raise capital. Others start with a higher price but eventually drop down to penny stock levels. Investing in these stocks can be slightly safer than investing in a brand new company, as long as the reason for the stock’s decline is reversible.
Investors can look for opportunities to buy these stocks at a discount while still holding onto the potential of the company. However, success stories like these are rare. It’s important to consider the financial performance of penny stocks before investing, as the risk is high. Only invest money that you are willing to lose.
Gold Royalty (NYSEAMERICAN: GROY) offers financing solutions to the precious metals and mining industry, focusing on gold extraction. The company invests in sustainable mining ventures and collects royalties on its investments, providing long-term returns to investors. With over 200 royalty contracts in North and South America, retail investors are relatively protected from risk.
GROY stock is attractive to investors due to its 2.88% dividend yield and a 277% increase in revenue year-over-year in Q1 of 2024. This positions the company closer to profitability, making it a potential buy for those interested in penny stocks.
Please note that InvestorPlace does not typically cover companies with a market cap of less than $100 million or low-volume stocks due to the high risk of scams and market manipulation. It’s important to be cautious when investing in penny stocks and to do thorough research before making any decisions.
Viktor Zarev is a scientist, researcher, and writer specializing in technology stocks. His goal is to provide accurate and understandable information to readers.