3 Penny Stocks to Buy Now: June 2024

Core Viewpoint - Penny stocks are characterized by high risk due to low trading volumes and precarious financial standings, but they can offer significant returns for discerning investors [1][2]. Group 1: Company Developments - Desktop Metal has introduced platinum 3D printing for jewelry production in collaboration with Legor Alloys, overcoming challenges related to the metal's hardness and melting point, which could lead to innovative designs [3]. - The Metals Company has potential resources to meet the material needs of up to 280 million electric vehicles, with analysts predicting a breakeven point by 2026, making it a compelling near-term investment [6]. - iRobot, while not strictly a penny stock, has a modest market cap of $270 million and is positioned for a comeback in the robotics sector, driven by its extensive patent portfolio and innovative technology [7][16]. Group 2: Market Trends and Investment Insights - The recent 1-for-10 reverse split executed by Desktop Metal may signal a resurgence, as the stock price increased by 32% following the split [12]. - The Metals Company announced a breakthrough in extracting battery-grade nickel from deep-sea sources, which could enhance its operational prospects [15]. - Investors should carefully evaluate a company's operational prospects and market demand to avoid "pump and dump" traps in penny stocks [10].