While it is true that penny stocks are often quite volatile it cannot be denied that these stocks can often generate enormous returns if investors manage to pick the right stocks. Even at this time when the markets are not performing particularly well, there may be penny stocks that could eventually generate tenfold return.
It is important for investors to take a look at some of the penny stocks which could potentially do that and this article is going to provide you with a list of stocks that may have that potential. Here is a look at five of those.
Sparta Commercial Services Inc (OTCMKTS:SRCO) – The first one that could be one of the penny stocks to possibly generate handsome returns for investors is the Sparta Commercial Services Inc stock.
The company saw its stock gather momentum this past Friday and ended the day with gains of as much as 7% as a consequence. It may be a good idea for investors to possibly take a closer look at the company and its business before making up their minds about the stock one way or another. It is a diversified company and also has interests in the fast-growing cryptocurrency sector. In addition to that, Sparta Commercial Services also has interests in e-commerce, CBD, wellness, mobile app development, website development, and national municipal lease financing industries.
In the quarter that ended on January 31, 2022, Sparta Commercial Services managed to record growth in revenues on a sequential basis and the next quarterly results could be announced by the company soon. It is likely that investors are going to look into the results quite closely. At this point in time, the company mainly boasts of two different verticals when it comes to growth generation.
One of those is iMobile Solutions, which is involved in the company’s IT solutions business. Another one is New World Health Brands Inc which is involved in the health and wellness industry. It is going to be interesting to see if the Sparta Commercial Services stock can manage to hold on to its momentum and add to its gains today.
King Resources Inc(OTCMKTS:KRFG) – The next penny stock with the potential of delivering strong gains at this point in time is the King Resources Inc stock. As it happens, the stock has already managed to do so and the rally continued on Friday as the stock ended the day with gains of as much as 80%.
It should be noted that the gains made by the stock on Friday took the total gains made by the stock over the course of the past week to as much as 370%. The company works through its subsidiary unit Powertech Corporation Limited, which is involved in developing smart power supply products.
Rimrock Gold Corp (OTCMKTS:RMRK) – Despite there being no news at all about the company, the Rimrock Gold Corp stock was in the middle of a strong downturn in the past few days.
On Friday, the stock declined by as much as 16% amidst a heavy selloff and that took the decline recorded by the stock in the past week to as much as 31%. Although the company’s name may be misleading, it is actually involved in developing and marketing CBD-based creams, oils, and hemp products. It is based out of Las Vegas in Nevada and had been registered back in 2007. It remains to be seen if it can bounce back and deliver on its potential.
Innovation Pharmaceuticals (OTCMKTS:IPIX) – In the past week, Innovation Pharmaceuticals has been in prime focus among investors and that makes it a penny stock that may be worth tracking. On Friday, the stock continued to in momentum as it ended the day with gains of 15% and took the gains for the week to as much as 75%.
As it happens, the rally came about after the company announced last Thursday that its product Brilacidin had demonstrated the capability of stopping the activities of both the Delta as well as Omicron variants of the COVID 19 virus. In light of such a development, the rally was perhaps understandable.
il2m International Corp (OTCMKTS:ILIM) – Over the course of the past week, the il2m International Corp has been one of the major penny stock gainers as it ended up with gains of as much as 77%. While the gains were staggering, it ought to be noted that there has been no news about the company at all. The company is involved in the social media and music entertainment spaces.
Sysorex Inc (OTCMKTS:SYSX) – Last but not least, it is the Sysorex Inc stock that may be looked into. Yesterday, the stock declined by as much as 10% and that took the decline over the past week to as much as 45%. In this case, as well, there is no material reason for the fall since there has been no news about the company since May 5. At the time the company had provided an update in which its two major shareholders had reiterated their commitment to Sysorex.
