If you have a little extra money to spare, you may want to consider investing in penny stocks with potential for high returns. These stocks are currently trading for less than $1 each and have the possibility of becoming multibaggers in the right circumstances. However, it’s important to remember that investing in penny stocks comes with significant risks. It’s a high-risk, high-reward game, so it’s best to only invest what you can afford to lose.
The penny stocks listed here do not undergo significant dilution or have unsustainable losses. Biotech stocks have been excluded due to their high risk nature. This helps to keep the downside risk reasonable for the penny stocks listed below, even though they are speculative plays. Here are seven penny stocks below $1:
Hyperfine (HYPR) is one of the penny stocks on the list. The company saw a 1.5% decline in revenue in Q1 year over year, but there is potential for growth once the broader economy improves. Despite this, they have strong financials with $1.87 million in current assets to cover $4.23 million in current liabilities. They are also investing in new software capabilities, showing a commitment to future growth.
While there are challenges ahead, Hyperfine has the means to improve their results and return to revenue growth in the future. It’s a situation worth keeping an eye on.
Please note that the opinions expressed in this article are those of the writer, and it’s important to do your own research before investing in any stock. It’s always good to be cautious and only invest what you can afford to lose.