Got $100? 3 Penny Stocks to Turn a Hundred Into a Fortune


  • Investing in penny stocks can multiply returns in short order.
  • Codere Online (CDRO): Taps into fast-growing LatAm sports betting.
  • Flexible Solutions (FSI): Patented systems help meet environmental regulations.
  • Duos Technologies (DUOT): Infrastructure inspection set to ride “IIJA” tailwinds.
penny stocks - Got $100? 3 Penny Stocks to Turn a Hundred Into a Fortune

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Many investors see penny stocks as a risky bet, and understandably so. Those that typically come to mind are speculative biotech stocks or struggling startups, burning through cash and diluting shares. With rising rates making growth difficult, it’s no wonder these companies trade at basement-level valuations compared to the broader market.

However, I believe this actually presents an opportunity for selective investing in penny stocks. I’m not talking about promoting speculative biotechs or deeply unprofitable businesses, but rather companies nearing profitability or with an established bottom line. As rates decline, these stocks could take off and deliver outsized returns by unlocking growth. Buying them near historic lows seems a savvy move to me. Here are three such penny stocks to look into:

Codere Online (CDRO)

sports betting stocks man celebrating winning bet on match, bookmaker app
Source: Motortion Films /

As a subsidiary of European gaming giant Codere Group, Codere Online (NASDAQ:CDRO) operates online gambling and sports betting sites across Latin America and Spain. Headquartered in stable Luxembourg, it taps into the massive potential of regulated Latin American gaming markets without dealing directly with regional political and financial instability. The ongoing craze for sports betting will undoubtedly spur significant user growth.

No doubt, Codere Online has been extremely volatile — its stock plunged nearly 80% off its SPAC highs before almost doubling again. But after stellar Q3 results trounced estimates with a 21% revenue beat, shares have caught fire once more, surging 32% this past month. More upside seems likely given massive losses narrowing amidst hypergrowth: while 2021 losses sat at $68 million against $80 million in sales, analysts now expect over $200 million in revenue this year plus a near break-even bottom line around $5 million. If strong execution continues, profitability appears right around the corner.

If management steers toward sustainable profits,, I believe Codere deserves multiples above its current valuation. Buying around $4 per share offers significant upside.

Flexible Solutions (FSI)

An illustration of various clean energy symbols; a faucet with water flowing to the earth, a windmill and solar panel with a plug leading to an electric car
Source: RoseStudio / Shutterstock

Flexible Solutions (NYSEMKT:FSI) is an environmental conservation company targeting the agriculture, oil, gas and municipality verticals. It develops patented systems for water treatment, contamination remediation and energy-efficient heating. Headquartered in environmentally progressive Canada with operations centered in drought-stricken Alberta, FSI’s innovative offerings help corporate customers meet tightening regulations worldwide.

Without a doubt, FSI took shareholders on a rollercoaster for the past two years. After peaking at around $4.30 per share in March 2022, shares have been through many ups and downs. But with the stock now bottoming again near $1.80, the state of affairs looks overly grim compared to strong long-term potential. A sharp recovery shouldn’t be ignored, even if bottom-line profitability remains erratic.

Analyst consensus pegs 2023 EPS at $0.32, implying shares trade at just over 6x forward 2024 earnings after the pullback. For an industrial targeting secular environmental trends across agriculture and energy, I consider that far too low. If FSI manages even 15% annual growth henceforth, its current market cap of around $23 million seems very cheap.

Duos Technologies (DUOT)

Industrial technology concept. Communication network. INDUSTRY 4.0. Factory automation.
Source: metamorworks /

Providing critical infrastructure inspection, operations and security technology to rail, freight and government sectors, Duos Technologies (NASDAQ:DUOT) forms the literal backbone, enabling efficient transportation nationwide. I foresee exceptional long-term demand driving hypergrowth, given the trillions in federal infrastructure spending since 2021.

No question, DUOT has dropped substantially from 2021 highs at $10 per share — the stock even hit $2 earlier this year on broad selling pressure, though shares have rebounded 100% since. I expect considerable further upside as infrastructure investment unfolds over years to come, potentially sending Duos to new records.

Backing this bullish thesis, analysts forecast revenue to grow 100% and recover to $18 million this year. Then it is expected to grow an impressive 68% in 2025. The growth story seems cheap if execution even comes close to estimates.

In the end, new infrastructure drives new demand for inspection, automation and security. Duos seems uniquely positioned to capitalize on this.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that’s writers disclose this fact and warn readers of the risks.

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

On the date of publication, Omor Ibne Ehsan did not hold (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 Publishing Guidelines.

Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on LinkedIn.

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