If you love the risk and reward of penny stocks and are searching for a stock that could experience significant growth in the next few months, then popular penny stocks may be the perfect choice for you. While these picks have a low chance of growth, they could skyrocket to the moon if they do take off.
Arena Events Group PLC
Arena Events Group (LSE: ARE) is currently trading at approximately a quarter of its share price from early 2019. Arena Events Group provides infrastructure and accessories for large-scale entertainment events, and the pandemic has hit the company hard. As live entertainment opens up once more, this stock shows serious promise at a bargain price. However, investors should only consider this stock if they believe we are well out of the woods of COVID-19.
Great Panther Mining Limited
The Great Panther Mining LTD stock (NYSE: GPL) is currently trading 55% lower than it was six months ago, partly due to safety issues and permit delays. Assuming these issues can be overcome and the company is awarded the permits they are waiting on, this stock could easily double over the coming months. However, GPL also has the potential to tank further, particularly if the permits the company is waiting on are rejected, but that’s always a risk with penny stocks.
Citius Pharmaceuticals, Inc
Citius Pharmaceuticals, Inc (NASDAQ: CTXR) is a pharmaceutical company that specializes in developing drugs for use during critical stages of care. Earlier this month, the company signed an agreement to exclusively license E7777, an oncology immunotherapy licensed for the treatment of cutaneous T-cell lymphoma. This stock has the potential to spike next year and is an excellent choice for investors who want their money to back a great cause as well.