Despite the Coronavirus threatening the disrupt the entire global supply chain, US equity markets remain near record highs amidst hope that the Fed and other central banks will use interest rate cuts to combat the potential hit to economic growth. Perhaps the best way to get a slice of the pie in this economic surge is by investing in penny stocks, given their relatively low buy-in and potential for massive gains.
Penny stocks trade for $5.00 or less, and while there’s always the potential for overnight success, there is also a great degree of risk attached. Let’s take a look at two on our radar today:
Blink Charging (NASDAQ:BLNK)
Blink Charging is a Florida-based global leader in electric vehicle charging services, with over 15,000 charging stations across its US network alone. BLNK stock has had a whopper few weeks after shares in Tesla (NASDAQ:TSLA) went on a mammoth bull run as Wall Street optimism returned to the EV space. Further boosted by the appointment of a new CFO and a US$1 million purchase agreement with InterEnergy last month, BLNK stock is up over 70% in February alone, but you might want to act fast because it may not stay in penny stock territory for long.
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Milestone Scientific (NYSE:MLSS)
Milestone specializes in the manufacturing of computerized drug delivery instruments and has been one of the best performing penny stocks in recent months, surging more than 520% since last July off the back of some impressive announcements. The most recent of these was the receipt of the CE mark of approval by European regulators for its CompuFlo Epidural System, opening the way for commercialization of the product in the lucrative European market.
Last month, Milestone Scientific also received a notice of allowance for a US patent for a Computer-Controlled Drug Infusion Device for cosmetic use, specifically for drugs such as Botox and Dysport. Cosmetic surgery is big business, and t0 find a penny stock with a unique patent in the field is a rarity. MLSS stock is currently trading for $2.38, up 50% this month alone.
If healthcare stocks are your thing, you can check out our pick of three health-focused stocks to keep your portfolio in top shape.
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