Best Penny Stocks to Invest in for 2022
The best penny stocks to invest in are making a comeback in a big way. These “small-cap” stocks are generally defined as stocks that trade for less than $5 per share. They have been on fire lately, with many of the best penny stocks more than doubling or even tripling in value. And that’s over the past year.
Online brokerages have made penny stock investing much easier for the average person. These brokerages have risen recently. And this is likely a big reason for penny stock’s success recently. In the past, penny stocks were largely traded through pink sheet listings. This made them very difficult for most people to buy. But now, there are online brokerages like Robinhood, Webull and TD Ameritrade. So anyone can buy and sell the best penny stocks with the click of a button.
Another reason penny stocks have been doing so well is the overall market conditions. With inflation higher than ever, many investors are looking for ways to boost returns. And penny stocks have proven to be one of the best ways to do that.
So, if you’re thinking about buying penny stocks, here are a few of the best penny stocks to buy in 2022.
Best Penny Stocks to Invest in
No. 3 Nordic Tanker Ltd. (NYSE: NAT)
Nordic Tanker Ltd. is one of the best penny stocks to invest in that has been low in recent years. But, this presents a fantastic opportunity to buy and make some money. The company is a leading provider of crude oil tanker services. It has a strong fleet of vessels and a good reputation. The company headquarters in Bermuda and has been operating for over 20 years.
The company has a 2% dividend yield, which is incredibly attractive for penny stock investors. This means that you will get a good return on your investment if you buy now and hold for the long-term. The company is also expanding its fleet. Which will provide more opportunities for growth in the future.
I mentioned the company has been in business for over 20 years. That’s a great sign for investors, too. Because that shows a sturdy foundation. They have staying power, so it’s much more likely they’ll succeed in the future. It’s also known for its financial stability. And Nordic Tanker’s stock price has already increased by 30% this year. Plus, it’s expecting to continue rising. Nordic Tanker Ltd. is one of the best penny stocks to buy now and hold.
No. 2 Cyngn, Inc. (Nasdaq: CYN)
Cyngn, Inc. is one of the best penny stock to invest in that you should consider buying now. The company engages in the development of software. Specifically, software for connected devices. They also have a strong focus on the Internet of Things (IoT). DriveMod Kit is their latest project. And this takes autonomous vehicle assets and applies them to commercial equipment. Things like forklifts and other assets. Those that usually need to be manually driven are able to adapt this application.
This best penny stock’s technology is intriguing and has potential applications in many different industries. And the stock is currently trading pretty cheaply per share. But, it’s already experienced a boost in price. Plus, it could rise even more in the future. Especially as the company’s technology is adopted by more businesses and consumers.
And another edge they have over the competition is the current project they’re working on. They are making various commercial fleet vehicles autonomous. This is an industry that’s expected to grow significantly in the next few years. So, Cyngn could be well-positioned to capitalize on this trend.
Overall, Cyngn is one of the best penny stocks with a lot of potential. Their technology is cutting-edge and they have a strong focus on the IoT. So, if you’re looking for penny stocks to invest in, Cyngn is one that you should consider.
Best Penny Stocks No. 1 Globalstar, Inc. (NYSE: GSAT)
Globalstar, Inc. is another one of the best penny stocks that you should consider buying now. The company is in the business of providing satellite voice. Plus, data communication services. And, they have a market cap of $2 billion. Which is great for those who want to find a deal (AKA- practically every investor).
Globalstar offers a variety of services. Those include satellite voice, two-way text messaging, and mobile data. Also machine-to-machine communications, and tracking services. The company has over 485,000 subscribers and 1,900 active customers. Their main competitors are Iridium Communications and Inmarsat.
The company has a history of providing investors with returns. For example, in 2016 the company had a return on equity of 15%. In 2017, the company’s stock price increased by almost 200%. And, in 2018 the company’s stock fell by almost 100%. So, if you are looking for the best penny stocks to buy now in 2022 then consider Globalstar.
Now, no investment is without risk. So, what are the risks associated with Globalstar? Well, the biggest risk is that the company has a lot of debt. As of June 30th, 2020, the company had $1.9 billion in debt. Which is a lot for a company with a market cap of $2 billion. Another risk is that the company’s revenue has been declining for the past few years. In 2018, the company had revenue of $317 million. But, in 2019 their revenue declined to $299 million.
So, those are some of the risks associated with Globalstar. But, overall I think that the company is one of the best penny stocks to invest in right now.
So What Should You Do?
Nordic Tanker, Cyngn, and Globalstar are all some of the best penny stocks that have a lot of potential. They are all engaged in innovative businesses with promising futures. And, they all have strong competitive advantages. Nordic Tanker’s edge lies in its experience in the tanker industry. And its strong relationships with shipyards and suppliers. Cyngn’s advantage is its cutting-edge software development focused on the Internet of Things. And, Globalstar’s competitive edge? Its experience in providing satellite voice and data communication services.
So, if you are looking for penny stocks to invest in, Nordic Tanker, Cyngn and Globalstar are all worth considering. Remember to do your own due diligence before investing in any penny stock. And, always invest with caution since penny stocks are risky investments. But, if you are willing to take on some risk, then the best penny stocks to buy could be a fantastic way to achieve returns.