3 Penny Stocks That Turned $1,000 Into Over $9,300 This Quarter

Finding Good Penny Stocks To Buy

Since all penny stocks don’t respond like AMC and GME, a trading strategy is essential. As we’ve seen in 2022, “stonks” don’t always go up, and volatility can quickly determine the duration of a breakout (or breakdown). Today we look at some of the best-performing names in the stock market this quarter.

  1. Revlon Inc. (NYSE: REV)
  2. RedBox Entertainment (NASDAQ: RDBX)
  3. AeroClean Technologies (NASDAQ: AERC)

Penny Stocks To Buy?

1. Revlon Inc. (NYSE: REV)

If you’ve been trading penny stocks in June, Revlon (NYSE:REV) is probably one of the penny stocks on your watch list. Yes, this is the same Revlon you see in make-up advertisements, and it has been at the center of attention for the last week. Shares hit fresh lows after reports of Chapter 11 bankruptcy began working their way through the news cycle.

How Much $1,000 Invested In REV Stock Is Worth

In this article, we focus on a hypothetical $1,000, and by no means is this a suggestion to buy, sell, or hold any of the stocks mentioned. However, the question was asked, “Are penny stocks worth it?” and we wanted to see how “worth it” some of the top penny stocks of Q2 were.

2. RedBox Entertainment (NASDAQ: RDBX)

Another one of the popular brands you’re probably familiar with, RedBox (NASDAQ:RDBX), is, in fact, a penny stock. What you see outside places like Walgreens and grocery stores to rent DVDs is just one aspect of the company’s business model. We discussed the company first on April 20th as RedBox saw some unusual trading volume and one of the few green sessions throughout April. Ultimately, retail traders would focus on similar trends with RDBX stock as they have with REV: heavy short interest & news-based speculation.

How Much $1,000 Invested In RDBX Stock Is Worth

Looking at the hypothetical $1,000 over the last few months, RDBX stock rallied from $2.02 on April 20th to highs o f$18.20 on June 13th. That 800% move means $1,000 is roughly worth $8,000 at those June highs. Are penny stocks worth it?

3. AeroClean Technologies (NASDAQ: AERC)

Everything from monkeypox to coronavirus has added uncertainty to the markets. In AeroClean’s (NASDAQ:AERC) case, its air purification technology has been a core focus for traders. In particular, it received FDA Clearance for its Pūrgo™ device earlier in June. The patented device effectively eliminated 99.99% of airborne microorganisms such as bacteria, viruses (like COVID), and fungi.

How Much $1,000 Invested In AERC Stock Is Worth

Going back to our hypothetical $1,000, AERC stock has moved from a $2.28 opening price on June 1st to highs of $23.70 on June 15th. That means in roughly two weeks, the former penny stock jumped 939%. That also means the $1,000 on June 1 was worth nearly $9,400 at those June 15th highs.

Are Penny Stocks Worth It?

The moves these penny stocks have made this quarter are not typical, nor should such breakouts be expected. Stocks, in general, carry risk, so doing your research and having a trading game plan are essential. Having said that, if you’re asking the question, “ Are penny stocks worth it,” these are just a few examples of how big of a breakout cheap stocks might see.

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Entrepreneur, Podcaster, Marketer& Content Maniac — Not Investment Advice. Editor In Chief, Partner https://www.PennyStocks.com https://www.StockMarket.com

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Joe Sirianni

Joe Sirianni

Entrepreneur, Podcaster, Marketer& Content Maniac — Not Investment Advice. Editor In Chief, Partner https://www.PennyStocks.com https://www.StockMarket.com