The 3 Best Penny Stocks to Buy in January 2024

Core Viewpoint - The article discusses potential investment opportunities in penny stocks, highlighting specific companies that may perform well in the near future due to improving fundamentals and strategic partnerships. Group 1: Lumen Technologies (LUMN) - Lumen Technologies has a high institutional ownership, with institutions holding approximately $1.1 billion worth of shares, representing nearly 67.40% of its outstanding shares [2] - The company has experienced a significant decline in share price, down 68.86% over the past year, and has faced falling revenues year over year since 2018 [2] - Despite these challenges, analysts believe management may successfully stabilize revenues and earnings, supported by healthy cash flows that allow for reinvestment and growth [3] Group 2: Taboola.com (TBLA) - Taboola.com is positioned as a strong penny stock due to its partnerships with major media companies, including a five-year deal with NBCUniversal News Group aimed at optimizing user engagement and driving revenue [4] - Wall Street analysts have a consensus strong buy rating for TBLA, with an implied upside of around 20% for its share price within the next twelve months [5] - Analysts also forecast that Taboola will reach break-even profitability and continue its consistent revenue growth [5] Group 3: Advantage Solutions Inc. (ADV) - Advantage Solutions Inc. has reported strong operational returns, with its stock price increasing by 69.48% over the past year, and insiders have purchased significant shares [6] - The company has a negative P/E ratio but is expected to reach breakeven profitability soon, contributing to a bullish outlook from Wall Street [6] - Analysts are optimistic about ADV, rating it a buy and anticipating upgrades in EPS and revenue for the current year [6]