Are there any penny stocks with a potential of one day becoming a Blue Chip stock?
An Anonymous User asked:
Penny stocks on the verge of very big things….Any of them?
Penny stocks on the verge of very big things….Any of them?
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Penny stocks live off of speculations, so good luck to find some truth in what is being speculated about them. Even Wal-Mart when its stocks were worth pennies was subject to this type of “gossiping”. Penny stocks are a high-risk bet. I don’t know of any penny stocks with strong estimates to succeed and become blue chips. If there was such kind of stocks, almost every trader would be rich.
I recommend you not to buy stocks valued under $15.00. It’s way too much risk. Plus, before they become “blue chips”, the stocks of a company should “prove” to you that they’ve been performing well for a relatively long period of time (17 weeks or more, everybody uses a different approach). There must also be a significant EPS growth before jumping in, aside other factors like a growing interest in the stock from institutional investors or P-E ratio.
The stocks you want to focus on is consumer staples, consumer discretionary, and healthcare. These are DEFENSIVE stocks that will survive through good and bad times. Most of my positions are in these stocks. Some names include 3M, Procter & Gamble, Kimberly Clark, Exxon Mobil, Walmart, Costco. Everybody’s got to eat and wipe their butts regardless of the state of economy. Many of these companies survived through the Great Depression.
That’s the benefits. You can sleep at night knowing your money is doing well. There are NO guarantees that you won’t lose money. It’s just that these stocks are the best. They pay good dividends too.
No body knows the answer as it all depends on market demand and supply and what the big time investors are up to.
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