Penny Stocks to Watch: CUI Global and Plug Power

penny stocks

Penny stocks trade for $5.00 or under, and they often represent an opportunity for investors to get into the market without fear of possibly losing everything due to their low share value. They’re also the best chance to make huge gains off a small input—through a combination of timing, insight, and just a little luck. Sudden changes happen all the time with these stocks, but if you’re an investor with a stomach for risk, then we have just the stocks for you .

CUI Global Inc (NASDAQ:CUI)

CUI Global is an Oregon-based firm that describes itself as engaged “in the acquisition, development, and commercialization of power and electromechanical components worldwide.” The company operated in two segments, Power and Electromechanical, and Energy, but sold a portion of its electromechanical business in October for around US$15 million. There’s a huge amount of volatility associated with this penny stock after concerns over CUI’s leadership were raised by investors last year.

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However, it looks to have turned a corner in recent months, with the stock up 50% in the most recent quarter following robust revenue growth. It marks the first quarter under new CEO James O’Neill, indicating that the leadership reshuffle should bear long-term benefits for the firm. This penny stock is currently trading for $1.11, up 5% this week.

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Plug Power Inc (NYSE:PLUG)

Plug Power has featured in our penny stocks coverage a couple of times before, but the company has been on such an impressive rally in recent weeks that it’s worth checking in on again. Last month, the company announced plans to hire 50 people in 2020, as well as reaffirming its commitment to generating $1 billion in revenue by 2024. Also in January, the company landed a US$172 million deal with an unnamed Fortune 500 company for hydrogen fuel cell deployments across their distribution network over the next two years.

PLUG stock is currently trading for $4.47, up over 40% in 2020 alone, so you might want to keep an eye on this stock because there’s no telling how long it will stay in penny stock territory.

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Featured Image: DepositPhotos © Frankljunior

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