Do You Know Which Companies Used To Be Penny Stocks & Are Now Large Cap Stocks?
When people speak about buying penny stocks, more often than not, they are referring to investing in companies with small capitalizations that are nowhere near as popular as
Back when General Motors was on the brink of bankruptcy, and the American automotive industry was in dire straits, Ford Motor Company (F) traded under $2 per share. When this happened, investors and traders looking to buy penny stocks were shocked at the fact that such a huge name had dropped to merely a few dollars. Granted, this was in 2008 and the country was facing the worst economic downturn since the Great Depression.
Other Famous Penny Stocks
Believe it or not, companies that have traded as penny stocks, at one time or another, existed in more industries than solely the automotive sector. If you’ve purchased a new vehicle in the last five to ten years, odds are that your car came with a subscription to Sirius XM (SIRI) satellite radio, allowing you to listen to hundreds of commercial-free stations while driving your brand-new car.
However, the rise of streaming has laid waste to much of the radio industry, with companies like Spotify (SPOT) and Apple Music (AAPL) hogging their airwaves via data and internet connections. As recent as
When analyzing the tech industry, it is rare that high-performing companies in the sector change