Now is the best time to scoop up undervalued penny stocks.
The market’s correction in the first half of 2022 was expected with factors like contractionary monetary policies and an economic slowdown. The consequences were much higher for high-beta penny stocks, which have shed a ton of value this year. Hence, you can grab some undervalued penny stocks for chump change.
Because of their moonshot potential, undervalued penny stocks have a certain allure for investors. Penny stocks can be very rewarding, but an outsized risk with these companies needs to be considered.
Though investors should probably tone down their expectations with penny stocks at this time, investing in the right ones will likely add incredible upside potential to your portfolios.
This post originally appeared at InvestorPlace.