3 Hot Penny Stocks For Multibagger Returns By The End Of 2024

| October 27, 2023

Penny stocks can be likened to the crazy world of cryptocurrencies where multibagger returns come at the blink of an eye. As an example, Tilray (NASDAQ:TLRY) stock was trading at $2.5 in March 2020. In a euphoric rally that followed, TLRY stock peaked out at $63.9 in February 2021. More recently, Riot Platforms (NASDAQ:RIOT) stock traded at $3.4 at the beginning of the year. With the rally in Bitcoin (BTC-USD), RIOT stock made highs of $20.7 in July.

These are just two examples of penny stocks going through the roof. Even in relatively challenging market conditions, there can be multibagger penny stocks. With focus on 2024, this column discusses three penny stocks that can deliver 2x to 10x returns.

It’s important to mention here that my focus is purely on non-speculative penny stocks. I believe that the stocks discussed represent quality businesses that can make it big. These penny stocks of today can therefore be the most sought-after growth stocks in the coming years.

Let’s discuss the reasons to be bullish on the potential multibagger penny stocks.

This post appeared first on InvestorPlace.

Category: Hot Penny Stocks

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The author of this article is a contributor to InvestorPlace.com.
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