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Highlights
- Some investors prefer equities like penny stocks, which are believed to be riskier, in the hopes of making some profit in the short run.
- Stocks of Razor Energy zoomed by over 1,076 per cent in the last one year.
- First Hydrogen saw its stock swell by nearly 746 per cent in the past 12 months.
Some investors prefer low-risk equities like blue-chip stocks. Some others, however, choose to explore riskier equities like penny stocks, which can bring some returns in the short run.
Exploring certain penny stocks that reflect some growth possibilities, in the right market conditions, can help investors realize their return targets if done carefully with proper research.
Let us discuss two Canadian penny stocks that surged by over 700 per cent in the last 52 weeks.
Razor Energy Corp (TSXV:RZE)
Razor Energy saw its total revenue reach C$ 21.34 million in Q3 2021, up from C$ 13.49 million in Q3 2020. The oil and gas firm saw its net profit increase to C$ 9.66 million in Q3 FY2021 compared to a loss of C$ 1.83 million a year ago.
Stocks of Razor Energy zoomed by over 1,076 per cent year-over-year (YoY) and closed at C$ 3 apiece on Tuesday, March 29.
Also read: Why is Hycroft Mining (HYMC) stock soaring again?
First Hydrogen Corp (TSXV:FHYD)
First Hydrogen, on March 15, reported how its two demonstrator FCEV vehicles, which it is working on in collaboration with Ballard Power (TSX:BLDP) and AVL Powertrain, is progressing.
FHYD stock swelled by nearly 746 per cent in the past 12 months and closed at C$ 2.58 apiece on Tuesday.
Bottomline
Investors should keep in mind the risk associated with penny stocks when exploring these and cautiously navigate through a company’s financials and prospects before making any final decisions.
Also read: Shopify (TSX:SHOP) to invest in carbon removal solutions: Buy alert?
