Investing in penny stocks can be risky, but it can also bring in significant profits, especially during times of economic uncertainty. In this article, we will discuss three promising penny stocks that could be great additions to your portfolio in the second half of the year.
Ardelyx (ARDX) is a biopharmaceutical company that focuses on developing innovative therapies. Vaalco Energy (NYSE: EGY) is an American energy exploration company with operations in various countries. Since the Russia-Ukraine conflict began, energy supply and prices have been affected, leading to increased demand and profitability for companies like Vaalco Energy. The company recently reported a net income of $7.7 million, a significant improvement from the previous year.
Analysts expect Vaalco Energy to continue its profitability streak due to its operational improvements, including the resumption of production at its oil field in Boabab. EGY is a penny stock worth considering for investment.
It’s important to note that penny stocks and low-volume stocks can be risky and are often targeted by scam artists and market manipulators. It’s essential to be cautious when investing in such stocks.
Disclaimer: The opinions expressed in this article are those of the writer and do not reflect the views of InvestorPlace. The writer has no positions in the securities mentioned.
Overall, these promising penny stocks could be a lucrative opportunity for savvy investors looking to diversify their portfolios.