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3 Penny Stocks to Watch for Explosive Growth in Q1 2024

Some of the best penny stocks are expected to see significant growth in the first quarter of this year. With a broadening market breadth, investors may be more willing to take on higher risk as the valuations of mega caps and large caps become less attractive. There are some penny stocks worth keeping an eye on for those looking to invest in potential explosive growth.

The penny stocks mentioned in this article are trading at attractive prices and show bullish upsides and prospects. It is important to exercise caution when dealing with low market cap companies, but these particular companies have the potential to be winners not only in the first quarter but also beyond.

One such penny stock to consider is Senseonics (AMEX:SENS), a medical technology company that focuses on developing glucose-monitoring products. While SENS has seen a decline in its share price of over 52% in the past year, there is optimism for the future. The company is expected to report quarterly revenue of around $8 million for Q4’23, a significant increase from the previous quarter. With a projected top-line growth of 41.38% and a “Buy” rating from Wall Street analysts, SENS could see a 139.42% upside in its share price, making it a potential explosive penny stock for the first quarter and beyond.

It is important to note that InvestorPlace does not cover companies with a market cap of less than $100 million or those that trade less than 100,000 shares daily due to the higher risk associated with such penny stocks. Disclosure of any potential conflicts of interest is also required for low-volume stocks.

As of the publication date, the writer did not hold any positions in the securities mentioned in this article. The opinions expressed are solely those of the writer, in accordance with InvestorPlace.com Publishing Guidelines.

Matthew Farley, the writer of this article, has experience in covering financial markets and has contributed to various publications on Australian and U.S. equities. His work has been featured in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine.

For those interested in exploring potential explosive growth opportunities in penny stocks, keeping an eye on companies like Senseonics could be worth considering.

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