Amidst the current market volatility, penny stocks are back on investors' radar again. Generally used to refer to shares of companies trading under $5.00 each, penny stocks offer a speculative opportunity with the potential for substantial returns at an affordable price point. If the stock break out, it has the potential to take investors' portfolios to the next level with outsized gains. There's also substantial risk involved with penny stocks, as not all of these companies will turn out to be the next Apple (AAPL) or Amazon (AMZN); however, the lower price point can help investors to keep their exposure to these stocks to a reasonable level that won't break the bank.
With this in mind, here are three top-rated penny stocks from a diverse group of industries - space exploration specialist Intuitive Machines (LUNR), biotech play Sangamo Therapeutics (SGMO), and silver miner Silvercorp Metals (SVM) - that Wall Street expects to deliver significant returns in the year ahead. All three stocks are trading below the $5 mark, with at least 65% upside potential to their average price targets from analysts.
