3 Penny Stocks Ready to Explode Into Dollar Signs by 2028


  • Selecting penny stocks to buy is based on the individual investor’s willingness to lose.
  • MGO Global (MGOL): A marketing-based penny stock bets on increased branding interest.
  • Sunshine Biopharma (SBFM): This Canadian biotech firm is getting closer to profitability.
  • Gold Royalty (GROY): The way to invest in gold mining minimizes risks.
Penny Stocks to Buy - 3 Penny Stocks Ready to Explode Into Dollar Signs by 2028

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Some companies become penny stocks due to listing on over-the-counter markets to raise capital. Other stocks start with a higher price, but throughout their trading history will drive down to the level of penny stock. In these cases investing in the stock is slightly safer than investing in a completely new company. That’s true as long as the reason for the stock’s loss in value is reversible.

By looking for opportunities like these, investors can potentially buy a stock at a significant discount while still retaining much of the original potential of the company. However, these comeback stories are few and far between. So, let’s consider the financial performance of these three penny stocks. As always, the risk is severe with penny stocks, so don’t put any money into them that you’re not willing to lose. 

MGO Global (MGOL)

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Focused broadly on design, development, manufacturing, sales, marketing and distribution, MGO Global (NASDAQ:MGOL) is a branding company aiming to redefine marketing trends. The company claims its competitive edge is to act in an “agile & speedy approach to the market” by maintaining expertise in brand positioning and strategy. It intends to apply this approach to branding across apparel, accessories and footwear within the affordable luxury sector. Those range from business-to-business and direct-to-consumer business models.

As a result, the company’s mission for investors is to develop widely recognized brands that can last in the ever-changing landscape of today’s branding market. On the financial side, MGOL operates on a small scale, with its revenues measured in the hundreds of thousands. Nevertheless, its Q1 revenue saw a 1384% increase year-over-year (YOY), which brought net income just $164,000 shy of profit. Therefore, MGOL is one of the higher-potential penny stocks to buy right now.

Sunshine Biopharma (SBFM) 

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Sunshine Biopharma (NASDAQ:SBFM) is a pharmaceutical company devoted to developing medicines across both oncology and virology. It’s a classic biotech play among this list of penny stocks to buy. The company mainly operates in Canada through its two subsidiaries. Nora Pharma has 52 prescription drugs approved on the Canadian market. And, Sunshine Biopharma Canada develops and sells over-the-counter supplements.

For its newer medical offerings, the company is conducting testing of mRNA therapeutics for liver cancer, a protease inhibitor for SARS Coronavirus infections and a novel pancreatic cancer treatment. However, the third and most exciting of that list remains paused in development due to unfavorable in vitro results.

Financially, the company is still working its way toward profitability amid extensive research expenditures. Its revenue did see a spike of over 50% YOY in its Q1 of 2024 earnings report alongside a generous 88% bump in profit margin.

Gold Royalty (GROY)

Gold Nugget mining from the River in Austria, real Gold. Gold mining stocks
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Gold Royalty (NYSEAMERICAN:GROY) offers creative financing solutions to the precious metals and mining industry, primarily centered around gold extraction. The company’s stated mission is to identify and invest in sustainable, high-quality mining ventures and then collect royalties on its investment. These precious metals’ royalties then intend to provide generous long-term returns to investors and shareholders.

Currently, the company is holding over 200 royalty contracts across jurisdictions throughout North and South America which specifically endorse mining developments. As a result, retail investors remain relatively insulated from risk exposure in gold exploration and extraction.

For investors, GROY stock is particularly attractive among penny stocks to buy because of its dividend yield of 2.88%. This looks even better considering the company’s Q1 financials for 2024, which reported a 277% increase in revenue YOY. Hence, this brings the company closer to profitability.

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 InvestorPlace.com’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, Viktor Zarev 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.

Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.

Article printed from InvestorPlace Media, https://investorplace.com/2024/06/3-penny-stocks-ready-to-explode-into-dollar-signs-by-2028/.

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