If you’re looking for some ASX penny stocks to keep an eye on in October 2024, here are a few to consider. Penny stocks can be a high-risk investment, but they also have the potential for high rewards. Keep in mind that these stocks are often more volatile than larger, more established companies.
One ASX penny stock to watch is XYZ Ltd, a company that specializes in renewable energy technology. With a growing focus on sustainability, XYZ Ltd could see an increase in demand for its products in the coming months.
Another penny stock worth watching is ABC Resources Ltd, a mining company that has recently discovered a new deposit of precious metals. As the price of gold and other metals continues to rise, ABC Resources Ltd could see a boost in its stock price.
Lastly, DEF Biotech Ltd is a pharmaceutical company that is working on developing a new cancer treatment. With advancements in medical technology, DEF Biotech Ltd could see significant growth potential in the near future.
Remember to do your own research before investing in any penny stocks, as they can be highly speculative. Keep an eye on market trends and company news to make informed decisions about your investments.