Want to Get Rich? 3 Game-Changing Penny Stocks to Buy Right Now


  • Here are the penny stocks to buy to possibly change your life.
  • Aqua Metals (AQMS): Aqua Metals features relevancies for a possible electric future.
  • Scynexis (SCYX): Scynexis is a relevant biotech focused on stopping infectious diseases.
  • Cidara Therapeutics (CDTX): Cidara Therapeutics benefits from a strong immunotherapy market.
penny stocks - Want to Get Rich? 3 Game-Changing Penny Stocks to Buy Right Now

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As a rule of thumb, you should stay away from penny stocks. When you see shares priced near a buck (or even below), there’s usually a reason for it – and not a good one. At the same time, if you want stratospheric returns for a relatively small cash outlay, you’re not going to get it investing in dividend-paying blue chips. So, here we are.

That said, if you’re aiming to acquire game-changing penny stocks to buy, you need to think carefully. In this case, we’re dealing with the law of (extremely) small numbers which can dramatically boost your profits. On the other hand, if circumstances go awry, you could lose everything. Whatever you do, don’t be flippant about this arena.

Still, I get the allure of this speculative subsegment. No matter how many warnings I issue, people want to know more. Therefore, I’m going to do my best to direct you to (hopefully) high-potential ideas. With that, below are penny stock picks to consider.

Penny Stocks: Aqua Metals (AQMS)

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Priced at a penny over a buck, Aqua Metals (NASDAQ:AQMS) is a daring wager for penny stocks to buy. Still, the diminutive company – which features only a market capitalization of $104.2 million – presents an enticing thesis. Basically, Aqua aims to provide a sustainable lithium-ion battery recycling solution. It’s a critical business because if the world does transition to electric mobility, the recycling process cannot negate the zero-emission benefit.

To be sure, AQMS largely runs on its narrative as opposed to its financial prowess. For example, investment data aggregator Gurufocus warns that Aqua may be a possible value trap. However, it’s not completely speculative thanks to its surprisingly decent balance sheet. Specifically, Aqua carries a cash-to-debt ratio of 1.84X, beating out 75.11% of other companies listed in the waste management industry.

Finally, some analysts believe it’s one of the top penny stock picks, pegging it a moderate buy. Further, their average price target comes in at $4, implying just over 296% upside potential.

Scynexis (SCYX)

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Headquartered in Jersey City, New Jersey, Scynexis (NASDAQ:SCYX) is a biotechnology firm targeting infectious diseases. Specifically, its website states that Scynexis is committed to protecting the world against dangerous and difficult-to-treat fungal pathogens.

To be fair, SCYX ranks among the riskiest penny stocks. In the trailing five-year period, shares gave up almost 78% of equity value. Since making its public market debut, data from Google Finance reveals that SCYX hemorrhaged nearly 97%.

Unsurprisingly, Gurufocus warns that Scynexis suffers from five severe red flags, including an Altman Z-Score of 1.01 indicating distress and a higher risk of bankruptcy within the next two years. That said, the biotech benefits from an overall decently stable balance sheet. For example, its cash-to-debt ratio is 5.82X, outflanking 71.59% of its peers.

Lastly, analysts peg SCYX as a moderate buy. Notably, their price target clocks in at $12.50, implying over 315% upside potential. And over the past 10 months, SCYX actually carries a unanimous buy rating across five expert voices.

Cidara Therapeutics (CDTX)

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Perhaps a sterling example among game-changing penny stocks, Cidara Therapeutics (NASDAQ:CDTX) is a biotech firm developing a powerful new class of immunotherapy. Per its website, Cidara is developing long-acting therapeutics designed to save lives and improve the standard of care for patients facing serious diseases. Since the beginning of the year, CDTX gained a bit over 3%. In the trailing one-year period, it’s up almost 8%.

Fundamentally, Cidara benefits from the potential of its core industry. Per Grand View Research, the global immunotherapy drugs market could expand at a compound annual growth rate (CAGR) of 6.92% from 2022 to 2030. At the culmination of the forecast period, the sector could hit $200.55 billion.

To be clear, that’s no guarantee that CDTX will succeed. On a financial note, Cidara enjoys an okay profile, although a pathway to consistent profitability represents a main concern. Still, H.C. Wainwright’s Ed Arce is game, pegging CDTX a buy with a $6 price target. This assessment implies over 674% upside potential, making it one of the most enticing penny stocks to consider.

On Penny Stocks and Low-Volume Stocks

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Read More: Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/08/want-to-get-rich-3-game-changing-penny-stocks-to-buy-right-now/.

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