The stock market continues to struggle as investors try to shake off the latest round of gloomy economic news. While several Big Names generated bad news (including insurer American International Group Inc., which reported a larger than expected fourth-quarter loss), the OTCBB market went about its business of making money in penny stocks.
This business included some tasty gains in midday trading. Penny stocks traders were cheered by the wholesome profits of pink sheets stocks such as Nova Energy (NVAE:OTCBB) at 41.67%, and iBioPharma, Inc. ( IBPM:OTCBB) at 37.93%.
Seasoned penny stock investors know that, even in tough market conditions, penny stocks and cheap stocks have the potential to surprise you. The turnaround of the once-toxic assets of Credit Suisse is a classic example of how cheap stocks can become a profit-making opportunity.
As you may remember, Credit Suisse used a huge chuck of its toxic assets as 2009 bonuses. These were assets that had become severely devalued as a result of the overall semi-collapse of the global markets. Needless to say, these stocks were selling for pennies on the dollar What most people think of as “penny stocks”), making them (so Credit Suisse thought) “worthless”.
Fast-forward a few months… the same “penny stocks” have increased in value – and this pig of toxic assets is looking very much like a Princess of Profit.
It just goes to show that, while mainstream Wall Street may scorn penny stocks, low-priced stocks often offer some amazing opportunities for sharp, aggressive investors.
Rewards – and riches – usually go to the bold. Seeking the highest return on a portfolio, instead of settling for less, is an approach favored by those willing to look realistically at a profit opportunity and act with determination.
At the end of this trading week, Wall Street will have a lot of people who lost money, some who barely broke even, and a few who managed modest gains. Meanwhile, out of sight, penny stock investors will be quietly banking 30% gains and more.
Which group would you rather be in? If you prefer to be in the group that avoids market hype, grabs the best penny stocks to buy, and carves their own destiny, you need to subscribe to our penny stock newsletter right now.
