Best Penny Stocks to Buy Now Could Pop up to 175% After This – Money Morning

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Penny stocks are off to a great start in 2021. And they’re just getting started.

We saw some tremendous gains in January, which traditionally bodes well for the rest of the year.

The penny stock we recommended a few days ago has already gained 26%, well ahead of pace to reach the projected 197% in a few months.

Likewise, today’s best penny stocks have the potential to double your money. Specifically, our top penny stock could see a 101% pop in the near future.

Millions of new traders and speculators entered the penny stock market last year. They have added enormous amounts of liquidity to this equity segment.

The resulting buying pressure led to rapid gains in stock prices that gave traders massive gains. For example, readers made a nearly 1,000% gain on Workhorse stock when we recommended it in January.

One path to penny stock profits in 2021 will be to uncover potential triple-digit winners before the crowd finds them. Their buying will give us huge profits.

We’ll start with a penny stock that‘s set to pop 101% and is rolling in cash

Top Penny Stock Dominates Digital Auto Market

TrueCar Inc. (NASDAQ: TRUE) is a digital auto market that allows buyers to connect to a network of dealers.

Buyers can shop for cars, compare prices, and find local dealers that can deliver the vehicle they select. The stock fell out of favor in 2019, when it lost its military buying program, which had been a valuable sales source. Shares have dropped from about $15 down to under $5.

True Car has rolled out a new military buying program that is now being very well received by dealers and customers alike. Traffic on the site is growing once again, and revenue is starting to recover as well.

True Car also just sold its ALG residual value forecasting operations to J.D. Power and Associates for $135 million. True Car will add the cash to the balance sheet, bringing total cash balances to $270 million.

The cash will be used to support a $75 million stock buyback program that could help push the stock price a lot higher in 2021.

Analysts have continued to underestimate True Car. The company has blown away the consensus estimate in the last four quarters. In the last three quarters, the positive earnings surprise was in the triple digits.

As a result, analysts have been raising the estimates for 2020 and 2021 earnings. More positive surprises could be the spark that starts a huge move in shares of True Car. As it continues to rebuild its brand, there is no reason the company cannot see its stock return to 2019 highs.

TRUE trades for $4.95 right now. Analysts say it could hit $10 within the next 12 months. That’s a potential gain of 101%.

Of course, that’s not quite our 175% gainer, which we’ll show you after this…

This Penny Stock Puts Food on the Table

Shares of BRF S.A. (NYSE: BRFS) are trading near their lowest level in the last decade. Concerns about coronavirus and the weak local economy have pushed this Brazilian pork and chicken processor down for the previous year.

It is not often that we get to buy a fallen international, almost blue-chip stock at such low prices. BRF has nearly $7 billion in sales and is a market leader in Brazil.

It has been a rough year for the company. Just like every other meat processor and packer in the world, some of its operations have been shut down for some period of time because of COVID-19. There have been supply chain issues for just about every company in the world, but especially so for those companies providing the things we need daily.

WARNING: It’s one of the most traded stocks on the market every day – make sure it’s nowhere near your portfolio. WATCH NOW.

You know, like pork and chicken products to feed our families.

The company also has international operations and is looking to make smart acquisitions to increase its presence in other markets, including the United States. The recently released 10-year plan also calls for the company to update its use of technology to serve customers better and cut costs.

As we begin to see vaccinations roll out worldwide and the supply chains function properly again, this company should see business pick up again.

When other penny stock buyers stumble on this world-class company with excellent fundamentals and prospects, their buying power could quickly push the stock back above the 2019 highs.

Now, here’s a stock that could nearly triple – a 175% return – this year.

Best Penny Stock to Buy Now

Crescent Point Energy Corp. (NYSE: CPG) is already off to a great start in 2021. But this stock has a long way still to climb.

Crescent is an oil and gas exploration and production company with operations in Canada, North Dakota, and Montana.

Rising oil prices should create excess free cash flow for Crescent Point, and it is expected to use the cash to pay down debt. Later in the year, we could see a dividend increase or stock buyback announced to build shareholders’ value.

There are only three analysts following this stock. Two of them have raised their rating on the stock this month. Earnings estimates have gone from predicting Crescent will post a loss in 2021 to suggesting the company will post solid profits.

The combination of low valuations, improving fundamentals, and price momentum could propel shares of Crescent Point Energy dramatically higher in 2020.

Crescent trades for $3.21, but it could pop to $8.85 according to analyst projections. That makes this a 175% opportunity.

The Complete List of Best (and Worst) Stocks for 2021

Wall Street insider Shah Gilani says 2021 could be a gold mine for Americans.

He’s showing his subscribers exactly which stocks to buy and which to sell.

But you’re getting it all for free – no sign-up or credit card required.

Prices, tickers, and company names will be coming your way fast.

It’s all right here

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