Penny stocks were the talk of the town back in 2021, especially those in the technology and biotech sectors. However, so far in 2023, most penny stocks have remained dormant with barely any price action to the upside. That mostly has to do with rate hikes and funding issues.
The good news is that inflation is coming down. This is diminishing the rationale for the Federal Reserve to raise rates. Once interest rates fall and the caveats of these companies are taken out of the picture, they have the potential to deliver tremendous gains.
Here are three penny stocks with potential for a rebound despite their current depressed prices. Let’s dive in!
This post appeared first on InvestorPlace.