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Frequently Asked Questions
Can you make money on penny stocks?
The chances are evenly balanced. One can either make or lose money, applicable to all the assets in the stock market. The only difference is penny stocks carry higher risks because of their small size and limited capital, which may not help them sustain during major economic hardships or world disasters like the Covid-19 pandemic. But if one picks the stocks after due diligence, penny stocks may prove to be one of the fastest ways to make quick bucks. Of course, only if one buys the right share. But the risks with penny stocks are always higher.
What are the top 10 penny stocks?
There is nothing called the best penny stock. A few examples of penny stock include AeroCentury Corp. (AMEX: ACY), Urban One, Inc. (NASDAQ: UONEK), Clinigence Holdings Inc (OTC: CLNH), Hudson Technologies, Inc. (NASDAQ: HDSN), Nanophase Technologies Corp. (OTC: NANX), Allied Corp (OTC: ALID), Iveda Solutions Inc (OTC: IVDA), Denison Mines Corp. (DNN), ARC Document Solutions, Inc. (ARC), MIND C.T.I. Ltd. (MNDO).
Are penny stocks good for beginners?
Penny stocks are considered a risky investment for many reasons. These companies are relatively new and small. And the chances of failure during economic hardships or macroeconomic stress are high. Beginners may instead take the mutual fund route, ETFs, or fractional investing if they want to get a stock market exposure.