- Penny stocks are low valued stocks that generally trade for less than a dollar.
- The stocks tend to surprise with significant upside during bullish sentiment in the stock market.
- Pilbara Minerals, Aquis Entertainment and City Chic Collective are few penny stocks to look out for in July.
Penny stocks are low valued stocks that generally trade for less than a dollar. These belong to firms with low-market capitalisation. Since these stocks give a perception of making rich quickly, these are popular among small investors. As a result, the stocks tend to surprise with significant upside during bullish sentiment in the stock market.
Here are five penny ASX-listed stocks for July:
Globe Metals & Mining Ltd (ASX:GBE)
Globe Metals & Mining is a Perth-based company engaged in the development of speciality metals and minerals. It is an African-focused resources company having Kanyika niobium project in Malawi. In June, the stock gave a return of 300%.
In the first week of June, the company received a notification from the Principal Secretary of Mining that the Malawi Government’s Mineral Resources Committee examined GBE’s mining authorisation application for the Kanyika Niobium Project and granted a Mining Permit.
Source: ©Miflippo | Megapixl.com
Aquis Entertainment Ltd (ASX:AQS)
Gaming and entertainment company Aquis Entertainment delivered strong returns in June. Aquis shares gave a return of 53% in the last one month.
In March 2021 quarter, the company adopted the Check-in CBR app as per the guidelines and part of the ACT Government’s public health directions. The company’s business revenue was robust in the given period. The net operating cash flow was also positive.
Source: ©Ymgerman | Megapixl.com
City Chic Collective Ltd (ASX:CCX)
Established in 1993, City Chic Collective is a specialty retailer of women’s fashion products. The company operates across the United Kingdom, Germany, Australia, the Republic of South Africa, New Zealand, and the United States. The stock price surged over 19% in the past one month.
In the first half of FY21, the company reported AU$119 million worth of revenue in global sales. The underlying EBITDA stood at AU$23.3 million. The company plans to expand globally, with an already established foothold in the US and UK markets.
Source: © Herrbullermann | Megapixl.com
Pilbara Minerals (ASX:PLS)
Pilbara is engaged in delivering low-cost, sustainable lithium production, focusing on expanding to fully integrated lithium raw materials and chemicals supply. The stock prices have surged by 16% in June. The company reported year-on-year revenue growth of 56.5% for the first half of FY21.
The company has recently completed the acquisition of ALO in 2021 and has consequently gained 100% ownership of the Altura project.
Reckon Ltd (ASX:RKN)
The company provides software solutions in the Business and Practice Management segment. The company’s business solutions segment includes ‘Reckon One’ for small business accounting, ‘Reckon Accounts Hosted’ for large business accounting, ‘Reckon Accounts Desktop’ for desktop accounting, ‘Reckon Accounts Personal Range’ for simplification of personal finances, Point of Sale and Reckon loans. In the past one month, the company gave a return of 15.6%.