Many investors tend to overlook penny stocks due to the high level of risk associated with them. These stocks are often known for their poor performance and difficulty in trading profitably. However, there are exceptions to this rule, and among those exceptions are penny stocks that have great potential.
Three penny stocks currently showing promise are experiencing significant developments that could lead to substantial growth. While investing in penny stocks comes with its fair share of risk and uncertainty, those willing to take the chance could see significant profits if they make the right moves.
One such penny stock to consider is Uranium Energy (UEC). The company has recently secured a lucrative four-year contract worth $250 million with an undisclosed partner in the dental industry. This contract is for the production of clear aligners, and Uranium Energy is confident in its ability to become a leading provider in digital dentistry solutions. With the dental market projected to reach over $14 billion by 2032, this contract could provide a substantial boost to the company’s revenue.
Another penny stock worth looking into is 3D Systems (NYSE: DDD). Despite experiencing net losses over the past two years, the company recently signed a significant contract that could lead to a major comeback. The four-year contract with a dental industry partner is valued at $250 million and focuses on clear aligners. With the digital dentistry market expected to grow significantly in the coming years, 3D Systems has the potential to capitalize on this trend and see substantial growth.
While investing in penny stocks always comes with a level of risk, these two companies are showing promising developments that could result in significant gains for investors. It’s important to conduct thorough research and consider the potential risks before investing in any penny stock.