I've dabbled with penny stocks a little in the past, I've not had a great amount of success with them and wouldn't consider them for myself again. I have a colleague however who wishes to invest a modest amount in this area. I don't follow them much anymore and am out-of-date on good investments right now, are there any penny stocks that you can recommend for my colleague to look into ?
One stock that is currently below $1 that I have a couple hundred shares of is SYMX. It's a very, very small % of my portfolio. But I believe it will be a very good mid to longterm investment. And it doesn't hurt that John Paulson owns over 10% of the company. Not something I'd put a huge amount of $ into, but I think it's a good choice for place in the smaller speculative portion of one's portfolio.
Good pennystocks offer the opportunity to invest in largely unrealised potential like that of a small biotech firms still in the research and development phase but show great potential. Investing in small companies eventually breaks through to become hugely profitable firms that offer investors a chance at ROI. A good example of a small company that followed such a trajectory is Microsoft.
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