DailyBubble News
DailyBubble News

3 Penny Stocks to Buy on the Dip: June 2024

Penny stocks on the dip are known for their high risk due to low trading volumes, minimal pricing, and unstable fundamental and financial conditions. Their price movements are more volatile compared to larger-cap stocks. However, for savvy investors, penny stocks can offer significant returns with a modest initial investment.

When considering penny stocks for a portfolio, it is crucial to evaluate a company’s operational potential and long-term viability. Avoiding “pump and dump” schemes requires a thorough assessment of a company’s products, market demand, and growth prospects.

Despite the speculative nature of penny stocks, there are three penny stocks worth buying on the dip due to their promising operational prospects. These stocks offer the potential for substantial returns and are priced attractively for investors to accumulate shares at a low cost.

Desktop Metal (DM) recently implemented a reverse split, signaling a potential turnaround. The company expanded its jewelry production offerings to include platinum 3D printing, showcasing technological advancements. It also plans to introduce improved industrial applications targeting sectors like aerospace and healthcare.

The Metals Company (TMC) made a breakthrough in extracting battery-grade nickel from deep-sea sources, positioning itself as a compelling investment in the electric vehicle market. Forecasts suggest the company could supply the material needs of millions of electric vehicles, indicating a promising future for TMC.

Bridger Aerospace (BAER) specializes in aerial firefighting, operating a fleet of aircraft to combat wildfires. Despite trading below its post-SPAC merger price, Bridger Aerospace shows promise with record revenue and income, as well as increasing demand for its services in the firefighting industry.

It’s important to note that penny stocks and low-volume stocks carry inherent risks and may be susceptible to market manipulation. Investors should conduct thorough research and due diligence before investing in these stocks to mitigate potential risks.

Jeremy Flint, an MBA graduate and finance writer, focuses on simplifying complex market concepts in areas such as fixed-income investing, alternative investments, and economic analysis.

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