With the markets closing at all-time highs this week, would-be investors are eagerly looking out for the next penny stock that could make them a fortune in a very short period of time. Penny stocks are the best option for speculators of that persuasion, but they can be very risky bets due to the fact they are generally comprised of volatile former bigger hitters and smaller stocks with no guarantee of ever reaching their full potential.
Penny stocks are stocks that are valued at under $5, and here we’ll look at two that are catching our eye this Thanksgiving Thursday. Let’s take a look.
Rayonier Advanced Materials Inc. (NYSE:RYAM)
Rayonier Advanced Materials is a Florida-based timber firm that specializes in high-purity cellulose, lumber, paper and pulp, and paperboard. While that may not sound like the most exciting of propositions from an investor standpoint, it’s a penny stock within an industry for which there is a consistent demand. There are few bets safer than paper, as it’s one of the few things everyone comes across almost every single day.
Rayonier only slipped into penny stock territory back in May, falling from as high as $15 after some underwhelming financial results. However, the company sits on over $2.6 billion USD worth of assets and owns or leases approximately 2.6 million acres of land. If you’re looking for a penny stock that could hold up in a recession, should one arrive, Rayonier could be a potential one to watch.
InflaRx NV (NASDAQ:IFRX)
InflaRx is a clinical-stage biopharmaceutical company developing anti-inflammatory therapeutics. This stock plummeted from around $37 to penny stock territory of $3.20 overnight in May after the company’s skin treatment failed to show a statistically significant response in patients receiving the treatment. While that may send investors running, the stock has shown signs of life in recent weeks after posting solid quarterly results, gaining nearly 50% since the beginning of the month.
So that’s our pick of penny stocks to watch today—what do you think?
Featured Image: DepositPhotos © aremafoto