It’s New Year’s Eve! And with a new decade on our doorsteps, investors are keenly on the lookout for stocks that could bring a bit of celebration to their portfolio. If you’re one such investor and you love a good bargain, then you need not look any further because we’ve picked out two penny stocks that could be set to make big gains as we head into 2020.
Penny stocks are valued at $5 or less, and while they may look like a bargain, there is generally quite a degree of risk involved. These stocks are usually comprised of once-great companies that have lost their way or smaller firms that have yet to, and may never, achieve their full potential. Let’s take a look at what’s on our radar today:
Pintec Technology Holdings (NASDAQ:PT)
Pintec is a Chinese technology platform that enables financial services in China by connecting business and financial partners through a suite of customized solutions, such as point-of-sale financing, wealth management, and insurance products.
Pintec Technology only slipped into penny stock territory earlier this year after posting underwhelming full-year financials in March. It looks now as though it may have bottomed out, and has shown signs of recovery in recent weeks after announcing that its digital lending services are going to be used by Chinese payments company Unicompany. PT stock now trades for $1.85, up nearly 300% from a November low of $0.47.
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Polar Power (NASDAQ:POLA)
Polar Power designs and manufactures power and cooling systems for targeted market applications, specifically hybrid and solar-powered systems for use in telecommunications, military, renewable energy, marine, automotive, and oil field applications. This is another stock that has been hovering around the penny stock threshold as of late, having been valued at $5 back in August and then sinking to as low $2.10 in November. Since then, POLA has been on a steady upward trajectory, which looks to be continuing into 2020. POLA stock is currently trading for $2.40.
If you’re a fan of investing in alternative and renewable energy stocks, you can read more in our guide here.
So that’s our penny stock picks as we head into the new decade. Are there any more on your radar?
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