It seems as if every year has its own recommendations for buying particular penny stocks to kick off the New Year on the right foot. And 2010 has been no exception to this rule.
So if you are hungry to find some promising penny stocks to invest in this year, try looking at the following suggestions. We make no promises that they will make you a lot of money; as always you should do your own diligent research and see what you can do with them. But they should at least be inspiring to you and give you an idea of what is out there.
First off let’s start with Fannie Mae. Otherwise known as the Federal National Mortgage Association (or FNM) this has understandably been a quiet stock of late. But many people are suggesting that when the housing market picks up again there could be some good gains to be made here. The current trade is at 1.01, although over the last year it has gone as high as 2.13 and as low as 0.35.
Elsewhere there are the PPBV stocks. This is the Purple Beverage Company, and we have very little information to go on here. The stocks however are currently rated at 0.0015 each. It suffered greatly when the stock market crashed in 2008, as it had achieved a high of eight dollars a share around that time. Needless to say though, the company is still around and still doing well, so those undervalued shares are sure to fly back up again at some point.
Finally we have WDRP. This is the stock belonging to Wanderport Corp. It is currently sitting at 0.0345 but since it was sitting at 0.008 not so long ago you can see that it is truly making big improvements. And some people think it will go much higher than three and a half cents per share as well.
So keep an eye on the news and developments for these penny shares and use that information to help you decide when to buy and sell these shares. Many people do not consider penny shares to be worth hanging onto for a long period of time. But as we can see here you may not have to. Some shares can go up in value by a significant amount in a short space of time. The secret is in knowing which penny stocks are on the rise and making the most of them while you can.