Finding the ideal penny stocks can be a tricky business, as there are literally thousands to choose from. When you find the right option, however, the rewards can be very worthwhile.
Lower-priced shares are a very attractive proposition for investors, but they can also be subject to wild price changes and wide thresholds, so with a great opportunity, comes an equal amount of risk. Here are two penny stocks making moves today that investors should keep an eye out for.
NuVim Inc (OTCPK:NUVM) is a New Jersey-based company that markets vitamins and dietary supplement drinks. It’s an interesting penny stock to watch as its current CEO Rick Kundrat is a former vice president at Unilever’s Thomas J. Lipton Inc, and oversaw the company’s merger with soft drink heavyweight Pepsi (NASDAQ:PEP) way back in 1991. This is worth noting because, with the rapidly expanding CBD market in the US and worldwide, Kundrat has openly talked about a potential merger for NuVim and a move into CBD-infused drinks could be a potential goldmine.
NuVim shares are currently as cheap as penny stocks come, at $0.0084 USD at the close of trading on Friday. So it’s definitely a stock worth looking out for if a merger materializes.
B2Gold Corp (TSX:BTO) (NYSE:BTG) is an exciting gold mining company based in Vancouver, and valued at just $3.54, it looks like an absolute steal in the basic materials sector. Gold prices jumped 1.2% to $1,544 USD per ounce today, which is a 6-year high for the precious metal. Many experts believe that the price of gold will continue to rise as investors look to it as a safe haven asset amid economic uncertainty both domestically and worldwide.
B2Gold shares have been a strong performer in 2019, and the company’s estimated earnings growth rate for this year is 25% versus the gold mining industry’s expected increase of 19.4%. That’s a pretty healthy outlook, so maybe now is the time to watch this penny stock before it takes off.
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