Stocks to watch today: CSCO, GOOGL, LB >>> READ MORE

Penny Stocks – 3 Top Penny Stocks of 2013

These risky penny stocks jumped anywhere from 20,000% to 30,000% this year

      View All  

Top Penny Stocks: Global Senior Enterprises (GSET)

YTD Performance: 25,900%
52-Week Range: $0.007 – $7
Average Volume (3 months): 371
Market Cap: $689,000

Next on the list of top penny stocks is Global Senior Enterprises (GSET) — a holding company that wants to own retirement centers in China. But it’s still in the development stage and has no operations. Yes, it’s looking to acquire an operating company — but it hasn’t done so yet. It’s a business plan without a business. No revenue, no profits, and assets of about a thousand bucks at the end of the last quarter are all you get with this penny stock.

It’s also not very reassuring that GSET has changed names and businesses five times in 10 years.

True, this penny stock has gone ballistic on a percent basis, but even if you caught the entire move, it would hardly pay for a private island.

The GSET float — or shares available to trade — comes to 37,373, according to the latest quarterly filing. That puts the maximum theoretical pretax profit at $262,000 (assuming you received every available share for free and sold at the top of $7 a share.)

After tax, that’s about $220,000, which would be a great gain, except that — again — it’s unattainable, because there is no liquidity in this penny stock.

Most importantly, on days when this penny stock did see heavy volume, it tumbled — a classic red flag for the “dump” part of pump-and-dump schemes, which penny stocks are ripe for.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC