Penny stocks in the technology sector will always intrigue. Everyone knows that the next Apple, Google, or Microsoft firm starts life as a penny stock! Get behind it now and who knows where it could take you—and your wallet.
So here are two technology companies that won’t cost you a fortune to buy into and are making some impressive moves this week.
Tech Penny Stocks: Payment Data Solutions (NASDAQ:PYDS)
Payment Data Solutions is up over 8%, currently selling for $1.86 USD. Headquartered in Texas, PYDS’s month chart shows how much it is swapping hands. It is clearly on investors’ radar but why?
One reason could be that analysts have pitched this penny stock’s average price target at $4.33. PYDS stock has been estimated to hit this target in the upcoming year period. The estimate is based on the stock’s historical and projected earnings.
So you can do that math with this one! At its current selling price, if PYDS delivers in 2019 that will mean a hefty return for investors.
Payment Data Solutions is a payment platform provider, offering businesses the opportunity to accept payments “wherever they are and however they want to pay or be paid.”
Tech Penny Stocks: Sphere 3D Corp (NASDAQ:ANY)
This penny stock started the week selling for $3.02 USD per share. Today, after rising a further 7.5%, ANY shares are selling for $3.61 USD at the time of writing. So what has this company climbing so fast in 2019?
Well, Sphere 3D Corp hit a wall in December after suddenly skyrocketing to $7 a share in the last week of November. True to form, what went up so fast came down pretty quickly; a month later, the ANY penny stock was selling around the $2.11 mark once again.
Perhaps investors are seeing ANY’s current price as an undervalued price point. Because if Sphere 3D shoots up over 100% again in 2019, then that would make many investors’ year. Time will tell.
The company provides data management and desktop and application virtualization solutions across the globe.
The Bottom Line
As with any penny stocks investment, they come with risk. While you may love the thrill of the risk, don’t forget to do your research first and never invest more than you can afford to lose! We’re just spitballing things over here at MSC; we’re not predicting the future.
Featured Image: Depositphotos © aradaphotography