Penny stocks offer valuable opportunities for investors but come with risk. Lower-priced stocks are often volatile and subject to risky business deals or a company going bust altogether. But some grow exponentially from small beginnings and return major dividends to early-investors. This is the holy grail scenario for penny stock investors.
Penny Stocks to Watch
Senseonics Holdings (NYSE:SENS) is a healthcare company focused on treating diabetes with its Eversense implantable continuous glucose monitoring (CGM) system. The company is also potentially one of those holy grail penny stocks as a result.
Still affordable at $2.35 USD, the current price could be considered undervalued depending on how you see the company’s 2018 performance.
SENS stock soared over 130% in 2018. Those monumental gains came off of the back of an FDA advisory committee recommendation of approval for its Eversense system.
This recommendation happened in March, and according to the Motley Fool, the potential for Eversense “made Senseonics quite popular on Wall Street. Analysts have picked it as one of the fastest-growing diabetes stocks of 2018 — and, so far, they’ve been right on the money.”
SENS stock hit highs of $4.91 USD after the FDA gave full approval for the GCM system in June.
Diabetes Penny Stocks
This penny stock has fallen in the latter half of 2018, but it’s unclear if lackluster sales of Eversense is to blame. But there is a reality of need in the healthcare sector and this company may just need time. According to Health Line, diabetes affects over 29.1 million US citizens, and over 8.1 million may not even be aware they have the disease yet.
That is a massive market potential for a tool that could be deemed necessary by many. The price is lower than expected right now, but it is very early days still for Senseonics and Eversense.
Featured Image: Eversense