You’ve probably heard about penny stocks and wondered what why they ignite so much excitement. Investing in stocks that only cost pennies? It sounds a bit crazy, but it has become a way to profit from small price moves and discover early-stage companies at the same time.

What Are Penny Stocks In The First Place?

First things first, what are penny stocks? These are shares of typically small companies that trade for less than $5 each. But don’t let the low price fool you; these cheap stocks can pack a punch.

Why bother with something that costs so little? Here’s where it gets interesting. Since they’re so cheap, penny stocks have the potential for significant growth. In many cases, traders are picking up a stock for a nickel and watching it soar to a buck. While gains like this aren’t guaranteed, there are and have been very possible especially this year.

Risk vs Reward

But I’d be lying if I didn’t tell you that penny stocks come with risks. They can be like a rollercoaster ride, full of ups and downs. Finding information about these small companies can also become difficult due to a lack of operating history.

So why would anyone consider venturing into the world of penny stocks? If you’ve got a taste for the unconventional, a willingness to dig deep, and a touch of the gambler’s spirit, this might just be your kind of situation. Plus, some say it’s an affordable way to get started in the stock market.

Now, make sure you’ve got all the info you need. In this article, we dive into some penny stocks to watch and break down some of the latest catalysts for some of today’s most active names. Investing in penny stocks isn’t for everyone. But if understand the risks involved and know how to achieve the potential reward by trading, the more info you have, the better.

Penny Stocks to Watch

  1. Ginkgo Bioworks Inc. (NYSE: DNA)
  2. Rigettit Computing Inc. (NASDAQ: RGTI)
  3. Gevo Inc. (NASDAQ: GEVO)

Ginkgo Bioworks (DNA)

best penny stocks to buy Ginkgo Bioworks DNA stock

We discussed Ginkgo Bioworks most recently in our article 5 Penny Stocks To Watch Under $5 This Week. In that article, we talked about the company’s latest milestones. Ginkgo announced advancing its collaboration with Novo Nordisk on expression systems for pharmaceutical products. It also reported that Ginkgo was awarded a research contract from the Intelligence Advanced Research Projects Activity.

This is the R&D arm of the U.S. Intelligence Community for Biointelligence and Biosecurity for the Intelligence Community program. The company also reported an award of a DARPA contract to reimagine manufacturing processes for complex therapeutic proteins. This is a 4-year contract with “up to” $18 million.

New Industries to Find Penny Stocks in for 2023

Fast-forward a few weeks, and the penny stock broke down a bit after reporting second-quarter earnings. Ginkgo beat sales estimates, and EPS came in line with analyst expectations. DNA stock has managed to recover on Friday, ahead of next week’s UBS MedTech, Tools, and Genomics Summit on August 15th. Something else promoting momentum is recent buying from Cathie Wood ARKK with a buy in DNA stock this week.

Rigetti Computing Inc. (RGTI)

ai penny stocks to buy

Shares of Rigetti Computing stock continued climbing higher in the stock market today. The penny stock made a rebound after a sell-off earlier in the month. One of the catalysts in play is the latest round of earnings.

Rigetti reported a beat on sales and EPS for the quarter. Analysts at Benchmark and Needham also reevaluated their stance on RGTI stock. Each now has a Buy rating following Benchmark’s upgrade. The firms also have RGTI stock forecast price targets of $4 and $3, respectively.

“After having launched the Ankaa-1 system internally, we are excited to have our longtime partner, Riverlane, as the first external partner using the system to work on improving error correction techniques on our new architecture,” said Dr. Subodh Kulkarni, Rigetti Chief Executive Officer. “We also look forward to making Ankaa-2, our most innovative system to date, available to the general public in Q4 of this year.”

The quantum computing company has gained interest as the sector grows in popularity. Rigetti is expecting to launch its Ankaa-1 quantum processor to customers in mid-2023. It was also awarded a US Patent titled “Parametrically activated quantum logic gates,” helping to add to the positive sentiment in the stock market. Right before the end of July, Rigetti also announced a collaboration deal with ADIA Lab to develop quantum machine learning solutions for resolving certain challenges in quantitative finance.

Gevo Inc. (GEVO)

best penny stocks inflation Gevo Inc. GEVO stock

Shares of Gevo Inc. bounced back from their recent lows. A mix of favorable analyst news and industry progress has contributed to this move. Gevo specializes in renewable energy and carbon-to-liquid-hydrocarbon conversion processes. These are used as transportation fuels for gasoline, jet fuel, and diesel drop-ins. When they’re burned, they yield net-zero greenhouse gas emissions, according to the company.

Earlier this month, Gevo reached a key milestone for its Net-Zero 1 for a loan guarantee from the US Department of Energy. This marks the second phase application and diligence process and begins the underwriting phase for its debt financing process. “We believe that reaching this stage with the DOE is a critical milestone and illustrative of Gevo’s progress in developing Net-Zero 1. We are excited to be working with the DOE on a process that supports our mission to deliver Sustainable Aviation Fuel (SAF) to the marketplace,” stated Dr. Patrick Gruber, Chief Executive Officer, Gevo.

6 Penny Stocks to Buy According To Analysts

This week, following some mixed earnings results, analysts at HC Wainwright adjusted their GEVO stock forecast price to $14 from $18 and maintain a Buy rating. Even though this is a target cut, the target itself remains hundreds of percentage points higher than current trading levels. The big question now is will analysts be right about the outlook for GEVO stock.

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

4 Penny Stocks That Fell From November Highs; Can They Recover?

The biotech sector has been one of the high growth spaces over…

Penny Stocks To Buy Now? 3 Short Squeeze Stock To Watch

Short squeeze penny stocks for your watch list.