2016 has already been a tumultuous year in the stock market, with day after day of significant declines, followed by some upticks in the market. It’s a rocky start to a new year, which has caused investors of all types to wonder if their strategy is going to work as we continue this year.
From dropping oil prices to declining global markets, it’s difficult for investors to get a handle on how to make the best decisions, which has led them to seek alternatives to traditional stock market opportunities. One of these alternatives is penny stocks, which are frequently a less perilous way to invest even a small amount of money, and often a good way to weather rough patches in the overall market. While no investment is guaranteed, some penny stocks are grabbing the attention of investors, analysts and media outlets alike.
So as 2016 is now fully underway, what are 5 penny stocks to watch? Consider these:
Multiple media outlets have cited Curis Inc. as one to watch. This biotechnology firm is currently working on developing drugs that treat cancer along with a range of neurological and dermatological diseases. They work alongside other biotech and pharmaceutical organizations, and have at least a few drug candidates in the research and development phase. While Curis isn’t yet profitable, many analysts expect the company is moving toward a strengthening future.
Medical Marijuana, Inc.
The use of medical marijuana is expanding around the country, and picking up steam as a viable treatment for a variety of illnesses and pain management. As more states in the U.S. move toward making medical marijuana mainstream, companies like Medical Marijuana, Inc. are benefitting. There are also other similar companies which may be promising picks for 2016, although of course only time will tell.
Avon Products, Inc.
You’ve likely heard of Avon products, which are cosmetics sold through direct marketing. Avon also happens to be an inexpensive investment opportunity for people interested in penny stocks. Analysts believe Avon has plenty of room to grow, and it’s a stable company with a well-known reputation and a consistent history in the cosmetics and beauty industry.
Genetic Technologies, Inc.
Another viable option in the biotechnology sector is Genetic Technologies LTD. This company focuses on diagnostic medicine, particularly as it pertain’s to women’s health issues. One example of the innovation coming from Genetic Technologies is a breast cancer assessment tool called the BREVAGenplus. As Genetic Technologies gains ground as a leader in their industry, it could be a good option to explore in terms of inexpensive investment opportunities for 2016.
Based in Houston, Lucas Energy is an oil and gas company with shares that have ranged widely in their price. While oil and energy are taking a beating in the stock market currently, this could make it a great time to learn more about Lucas Energy, in the event this sector does experience a likely resurgence.
Finding Opportunities in 2016
Regardless of the penny stocks you choose to add to your portfolio in 2016, it’s a year full of new possibilities and excitement for investors who are willing to explore their options and learn more about the world of inexpensive stocks.