Penny Stocks Under $1: Ideal Power and Rite Aid Could Be Bullish in 2019

Penny stocks under $1 are potentially volatile. But if you research heavily and choose the right penny stocks now, it could prove fruitful in time.

Here are two penny stocks under $1 on the radar.

Penny Stocks Under $1: Ideal Power (NASDAQ:IPWR)

Ideal Power is on the radar because this stock has grown 34.5% in the last month. Currently selling for $0.44 USD per share, the IPWR penny stock hit a high of $0.56 and a low of $0.22 in the month of February.

According to Market Watch, “[the company] develops power conversion solutions with a focus on solar and storage, microgrid, and stand-alone energy storage applications.”

With a focus on power conversion systems inclusive of a 30kW SunDial and an emphasis on solar technologies, Ideal Power is in a prime position to grow significantly as the energy sector explodes. Energy stocks are hot property in 2019 because the entire globe is moving towards sustainability.

Taking the auto industry as an example, this entire sector is transforming before our eyes with the evolution of electric powered vehicles.

Penny Stocks Under $1: Rite Aid (NYSE:RAD)

Currently selling for $0.77 USD on the NYSE, the RAD penny stock is in the midst of a downward trend, which took hold at the end of January. The stock dropped a massive $0.20, from $0.95 to $0.75 at the end of the month.

The company has faced the pressure of e-commerce shopping, which has affected most brick-and-mortar operations in recent years. It has shed over 90% of its value as a result, and it’s understandable why investors are now skeptical.

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However, this company has announced a refocusing effort that has some analysts bullish on its future turnaround. This includes:

10-year contract renewal with McKesson for drug purchasing
A focus on maintaining the growth of Rx sales and script count
A revamped eCommerce offering allowing for a “higher-margin ship-from-store and prescription fulfillment”
Integrating more drive-through pharmacies and mobile applications for customer convenience

Online drug stores are expected to grow a whopping 26% by 2020. If that is the case, by refocusing its efforts to cater to the online pharmaceutical retailing business, Rite Aid might become profitable by the end of 2019.

Are these penny stocks a risk worth taking? That lies in the hands of the investor.

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