Happy New Year! As an investor, you’re probably looking to start 2020 with something to smile about. Well, we’ve got something that might just do the trick. We’ve picked out two penny stocks that could be set for a big year ahead, but you’d better hurry because they may not stay below $5 forever.
Penny stocks trade for $5 or less, and while they always look like a good bargain, many speculators can be deterred by the high level of risk involved due to the fact that these types of stocks are generally comprised of former big hitters that have somehow lost their way or smaller startups that have yet to fulfill their potential. Let’s take a look at two that have caught our eye this week.
NIO Inc (NYSE:NIO)
NIO is a Chinese electrical vehicle maker, and surprisingly for a penny stock, it is perhaps the greatest rival to Elon Musk’s Tesla (NASDAQ:TSLA). The company was faced with a litany of issues in 2019, which saw its share price plummet, so speculators should certainly be aware of the high level of risk associated with NIO stock. However, recent weeks have been much kinder to investors, with NIO stock popping nearly 54% in New York on Monday after it reported $257 million USD in revenue for Q3, a 25% increase from the same period a year earlier.
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Advaxis Inc (NASDAQ:ADXS)
Advaxis is a biotechnology company that focuses on the development and commercialization of immunotherapies that enlist the body’s own immune system to fight cancer. This penny stock has rocketed 80% in the last month alone after posting positive updates on the development of its off-the-shelf neoantigen program, ADXS-HOT and its KEYNOTE-046 study in prostate cancer. Advaxis also reported positive financial results, which saw net loss shrink from $66.5 million USD in fiscal 2018 to $16.6 million USD in 2019.
So that’s our pick of two penny stocks that could set your portfolio off to a flyer for the new year. Are there any more on your radar?
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