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What Is a Penny Stock?
Contrary to the name, a penny stock isnt a stock that trades for just one penny.
Penny stock typically refers to publicly traded stocks with share prices under $5 andmarket capitalizationsunder $300 million.
Here aresixof the best penny stocks on Cash App right now:
1.
Transocean Ltd. (RIG)
Transocean Ltd.provides offshore drilling services for oil and gas wells.
Based in Switzerland, the company specializes in drilling in ultra-deepwater and harsh environments.
Transocean says its floating offshore drilling fleet has the highest specifications of any such fleet worldwide.
If youre up for a major gamble, Transocean might be worth investigating.
it’s possible for you to trade Transocean for about$4.20on Cash App under the ticker symbol RIG.
Revenue is mostly from in-content ads, and revenue per member has grown steadily over thepast six quarters.
This caused the stock to continue dropping, bringing it to penny-stock territory.
you’re free to trade iQIYI Inc. stock on Cash App under the ticker symbol IQ.
OPKO Health Inc. (OPK)
OPKO Health Inc.is a multinational biopharmaceutical and diagnostics company.
The current price hovers around $1.60per share but could change quickly.
it’s possible for you to trade OPKO Health Inc. stock on Cash App under the ticker symbol OPK.
The companys stock slumped hard in August andhas continued to fall.
ChargePointannounced on Sept. 16 that it had appointed a new chief revenue officer to overseeglobal sales and marketing.
Still, the stock is down over one, three and five years after falling51.71%in 2024 alone.
you’ve got the option to trade ChargePoint stock on Cash App under the ticker symbol CHPT.
Grab Holdings (GRAB)
Grab Holdingsis anUber-like technology app that offers ride-hailing and delivery services.
It even offers financial services.
Grab launchedjust beforethe hype of tech stocks in 2021 andhastumbled over54%in share price.
However, as it grows, its market share is marching toward profitability.
you’re able to trade Grab Holdings stock on Cash App under the ticker symbol GRAB.
Unfortunately, it tanked to under $5 per share and now trades forabout $2.
This helps build confidence in Lucids future potential, and the stock could continue to benefit.
you could trade Lucid Group Inc. stock on Cash App under the ticker symbol LCID.
These stocks have usually been beaten-down companies that have had poor track records.
As publicly traded entities,penny stockcompanies work for the shareholders.
Stock exchanges could delist the company completely.
This makes it impossible to sell your shares.
All this to say invest in penny stocks with extreme caution.
There is a very real risk of losing money, including a total loss of your invested capital.
FAQ
Daria Uhligcontributed to the reporting for this article.
Information is accurate as ofNov.
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