In the world of penny stocks, it is not unusual for a stock to gain substantially one week and lose it all the next. Cheap stocks offer high risk but an equally high reward if you play your cards right.
Here are two cheap stocks that are down at the moment but did have major gains earlier in the year. The question we all want to know is, will they make those gains again?
Cheap Stocks: Blink Charging Co. (NASDAQ:BLNK)
Well, this is a volatile stock. Without a doubt. Volatile stocks can offer good buy-in opportunity, but is BLNK one?
Looking at its year trend, this cheap stock has had a roller-coaster ride of ups and downs, sliding from $30.00 to $5.00 in several months. Then jumping from $5.00 to $15.00 in a few days. Then hovering around $9.00 for a few days and then plunging in one night to $3.00. 😟
Only last week, the stock almost doubled itself in one day, jumping from $2.19 to $3.56, before losing those gains the next day. At the time of writing, BLNK is selling at $2.20.
So, the risk here is clear to see but yours to judge. You may find yourself ahead of an uptrend but would need to know when to jump off as quickly as jumping in.
Here’s where it gets interesting though. If Blink Charging lands a huge contract to build its network of electric vehicle charging stations around the world, then this stock will soar. And let’s be honest, that’s a very plausible signing. Electric vehicles are the future of the autos industry and eventually, global infrastructure will need to match demand.
Will Blink Charging be at the fore of that infrastructural need? That’s the real question about this cheap stock.
Cheap Stocks: Pier 1 Imports (NYSE:PIR)
And from electric charging stations to furniture, Pier 1 Imports could be considered a steal at its current price of $1.54.
Because less than a year ago, PIR stock was worth almost $6.00. And that is nothing when compared to four years ago when the stock was well over $23.00. The decline has been attributed to e-commerce threats, so what’s ahead for Pier 1?
Well, a three-year strategy to turn its business around is a good place to start. Beginning with a Pier 1 rebranding launch, which is due soon, and continuing with a plan to invest in “omnichannel commerce capabilities and marketing.”
Who knows if this will actually rescue this company, but an increase in search interest results indicate that interest is growing in Pier 1.
Plus, the home furnishings market has forever-long potential, because when will we ever stop home decorating?
Check back in for more cheap stocks.
Featured Image: Depositphotos/© alphaspirit