Core Insights - Penny stocks are characterized by high risk due to low trading volumes and shaky fundamentals, but they can offer substantial returns for savvy investors [1] - Careful evaluation of a company's operational potential and market demand is crucial when building a penny stock portfolio [1] Group 1: Desktop Metal (DM) - Desktop Metal implemented a 1-for-10 reverse split in June, leading to a 32% increase in per-share pricing within a week [3] - The company is expanding its jewelry production to include platinum 3D printing, which has been challenging due to the metal's properties [3] - Upcoming innovations will be showcased at a 3D printing industry event, indicating potential growth in industrial applications [4] Group 2: The Metals Company (TMC) - The Metals Company recently achieved a breakthrough by successfully extracting battery-grade nickel from deep-sea sources, confirmed by independent evaluations [6] - The company's undersea resources could supply materials for up to 280 million electric vehicles, aligning with current U.S. vehicle numbers [7] - Analysts predict a break-even point by next year or 2026, enhancing its attractiveness as a near-term investment [7] Group 3: Bridger Aerospace (BAER) - Bridger Aerospace, listed in early 2023, is trading nearly 50% below its post-SPAC merger price but shows promise in the aerial firefighting sector [8] - The company operates a fleet of aircraft for combating rural and wilderness fires, with California allocating $3.3 billion for firefighting efforts in the 2022-2023 fiscal year [8] - Bridger reported record revenue and income, with increased utilization of its fleet as demand for its services grows [9]
3 Penny Stocks to Buy on the Dip: June 2024