InvestorPlace recently reported on three non-speculative penny stocks that have the potential to be 10-bagger stories in the next 12 months. These stocks are Bitfarms (BITF), Tilray Brands (TLRY), and Standard Lithium (SLI).
Bitfarms, despite recent subdued trading due to a $375 million equity offering, is expected to see significant growth if Bitcoin surpasses $100,000 in the next year. With ambitious expansion plans and a high Bitcoin price, Bitfarms is poised for stellar revenue and cash flow growth.
Tilray Brands, which saw a surge in stock value after Joe Biden’s election, has faced regulatory headwinds but could see another rally if cannabis is reclassified and there is clarity on federal legalization. Positive business developments, including revenue growth and positive cash flow expectations, also support the potential for a surge in TLRY stock.
Standard Lithium, currently undervalued but with a strong asset base, is expected to rebound as lithium prices stabilize. Securing financing for its key asset could lead to significant stock growth, as seen with other companies in the industry.
While these penny stocks have the potential for high returns, it’s important to note that investing in such high-risk bets should be limited to a small portion of a portfolio. Investors should also be cautious of low-volume stocks that may be susceptible to manipulation.