Penny Stocks to Watch: ASE Technology and Resolute Forest Products

penny stocks

We’ve been keeping a close eye on the penny stocks market to bring you the winners and losers. It’s a market in which investors have to act fast due to the possibility of major fluctuations happening at any time. Here, we’ll take a look at two promising stocks that could make your Friday the 13th a little less frightening, if you have an appetite for risk.

ASE Technology

ASE Technology Holding Co (NYSE:ASX) is a Taiwanese semiconductor manufacturer that has seen its stock make some pretty impressive gains as of late. Semiconductor firms are really hot property at the moment due to their importance in developing future technologies such as 5G networks and autonomous vehicles, with one analyst even describing them “the arms dealers of the 5G race,” so the demand is only set to increase.

ASX stock looks like a promising penny stock at the minute, particularly given that its value is up 36% in the last three months and that ASE Technology regularly posts steady profits. Recently, ASX was labeled as a top pick by Beta Research as it meets the A+ criteria of the firm. Additionally, ASX shares have been set a consensus price target of $5.29, which indicates even further gains from its current value of $4.65.

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Resolute Forest Products

Resolute Forest Products Inc (TSX:RFP) (NYSE:RFP) is a Montreal-based global-supplier of wood-derived products such as paper and pulp. With supply links in over 70 countries, 7,000 employees on the books, and revenue in excess of $3.75 billion, it’s hard to see how RFP is still in penny stock territory. Based on today’s trading, it has actually just crossed the threshold of $5 a share and is technically not a penny stock right now, but just about.

The reasons Resolute Forest Products looks like such a strong penny stock is as a result of how it’s positioned to grow from here, so you’ve got to act fast. RFP’s focus is on maximizing high-quality output while minimizing environmental impact, and after seven years of searching for a profit through this business model, the goal was finally realized last year with a bottom line of $235 million USD. Added to this is a staggering jump of 736% in operating income due to its commitment to sustainability.

Currently valued at $5.16, RSP jumped out of penny stock territory this week, but given the company’s position and recent results, it still looks like a really undervalued stock.

So, that’s our pick of penny stocks on this Friday the 13th—what do you think?

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