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DailyBubble News

7 Penny Stocks to Turn $100,000 Into $1 Million: December 2023

When it comes to building a portfolio, investors typically look towards blue-chip stocks and high-quality growth stocks. Penny stocks, on the other hand, are not commonly considered by most investors. However, there are some emerging businesses in the penny stock space that have the potential to grow significantly if certain industry or company-specific catalysts are triggered. While the risk is high, holding a small allocation of penny stocks can have a positive impact on a portfolio if the investment pays off.

In this article, we will focus on seven penny stocks that have the potential to generate significant returns and possibly turn an initial investment of $100,000 into $1 million. These penny stocks have strong fundamentals and could be held for an extended period of time without causing undue concern.

One such penny stock is Blade Air Mobility (NASDAQ: BLDE), a provider of air transportation alternatives in the United States. The company reported robust revenue growth of 56% in the third quarter of 2023, with a healthy flight margin of 22%. With an asset-light model and strong demand, Blade Air Mobility is expected to continue experiencing strong revenue growth and improving EBITDA margins.

Blade Air Mobility’s MediMobility Organ Transport segment, which is the largest dedicated air transporter of human organs for transplant in the United States, has been a key driver of growth for the company. Additionally, Blade Air Mobility has partnerships with companies in various industries, including hospitality, technology, fashion, beauty, transportation, and entertainment, providing a large addressable market and potential for significant revenue growth.

Overall, these penny stocks have the potential to deliver substantial returns over the investment horizon, possibly generating 10x returns for investors. It is important to note that the opinions expressed in this article are those of the writer and do not constitute investment advice.

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