While most people assume that penny stocks are publicly traded companies that sell shares for under a buck, the SEC defines penny stocks as shares that trade for under $5.00.
That may be the technical definition, but for us, we define penny stocks as incredibly cheap opportunities that can bring incredible rewards to investors at a low-cost.
Now don’t get us wrong… Penny stocks aren’t without their risks.
A great many people have lost hundreds of thousands of dollars gambling on penny stocks.
The trick to being successful is to avoid blindly betting on cheap companies and to instead invest in organizations that are primed for growth.
Below, we outline companies that saw momentum in March that we believe will continue to grow for the foreseeable future.
Here are penny stocks to buy!
1. Groupon (GRPN)
Groupon may very well be the biggest name on our penny stocks to buy list. As a matter of fact, you may be surprised to learn that Groupon trades at under $5.00 per share at all.
This company has definitely had its ups and downs over the last decade but we think that it has finally started to carve out its niche and clean up its offerings.
With key competitors like “Living Social” fading from consumer consciousness, Groupon has a great opportunity to start becoming the premiere discount services facilitator in the world again.
2. Eastman Kodak Company (KODK)
Kodak was once the biggest name in film and cameras. If it weren’t for the rapid growth of digital, the ballooning media industry would have taken Kodak and its pricey film stocks to new heights.
That’s not how history went though.
Film has become all but a dying medium used solely by art students and Kodak has flirted with financial ruin as a consequence.
Today, Kodak has rebuilt itself as a technology company that’s on the cutting edge of a number of burgeoning mediums (3D print for example).
At its sub $4.00 price point, we think Kodak is an obvious buy that’s getting ready to take off.
3. One Stop Systems (OSS)
One Stop Systems is a small IPO that specializes in building computer systems and software for a variety of industries. This company’s stock has been very volatile throughout 2019 but we think that, despite its ups and downs, the stock’s overall trajectory is trending upwards.
One Stop Systems is running a very financially sound business that the market is still trying to figure out. Once it lands on a fair price, we think it’ll be much higher than where it sits today.
4. Globalstar (GSAT)
If you haven’t heard of Globalstar, we don’t blame you. This company is a low key satellite communications producer whose stock has had a relatively unimpressive year thus far.
What we like about Globalstar, despite its sub $0.45 valuation, is that the company is turning a profit and operates in an industry that we’ve seen grow unilaterally in the last 20+ years.
With satellite fueled communications continuing to grow, Globalstar will find its footing and investors stand to make great money.
Not convinced? We’ve found Globalstar recommended on many other penny stock picks pages.
You can read more here about it!
5. ConforMIS (CFMS)
If you’re looking for an affordable medical stock to diversify your portfolio with, we think that you should give ConforMIS a look.
ConforMIS is a knee and hip replacement specialist that creates custom prosthetics for patients suffering from a number of physical disabilities.
ConforMIS has done an impressive job becoming a go-to manufacturer for many of America’s top healthcare providers. We see no reason why this producer’s growth rate will slow any time soon and as such, we recommend picking up its sub $2.50 stock as soon as possible.
6. Energy Focus (EFOI)
Energy Focus specializes in building energy efficient lighting for commercial and consumer use. While this penny stocks to buy pick has had a rocky past, the current leadership is bent on returning the company to being profitable through bolstering sales and cutting costs.
Since December, this stock has already doubled in value and we believe, given this company’s newfound focus, that trend will keep replicating over the course of 2019.
7. Arc Document Solutions (ARC)
If you work in construction or another industry that uses custom made, non-consumer grade documents, you may have worked with ARC.
Not only is ARC blowing out valuations given its profitability last quarter, but it’s also boasting the continued title of being an industry leader when it comes to customer service which is positively affecting its consumer base’s lifetime value.
Arc is a very cheap stock with very big potential and you’d do well to give it a glance.
8. Orion Group Holding (ORN)
Rounding out our penny stocks to buy picks is Orion Group Holdings. This construction company has underperformed recently when stacked up against analyst’s expectations for the end of year net worth.
Part of that underperformance though was due to Orion’s chief financial officer correcting an error that had overvalued some of its assets and consequently, had overinflated its stock.
Orion’s new share prices are well worth jumping on given that the company is back on the right foot and continues to be a premier name in the specialty construction niche.
Wrapping up the best penny stocks to buy in March 2019
There’s no avoiding the fact that penny stocks are always a bit of a gamble given their volatility. Armed with our insight though, we think you’ll take a lot of the uncertainty out of your investing and give yourself a fabulous opportunity to turn massive profits!
Whether you’re interested in investing in the best penny stocks to buy or want to build a business of your own, “AllTopStartups” has excellent content for you to consume.
Check out additional financial posts on our site today!