Among the key highlights of investing in 2021 was the surge in penny stocks and speculative stocks. Multi-fold returns came at the blink of an eye. However, 2022 is likely to be different. With the potential interest rate hike, there will be relative tightening of liquidity.
This does not imply that the markets are positioned for a big correction. As the pandemic shifts to an endemic, there are hopes of accelerated GDP growth. To some extent, this will offset the fears related to liquidity tightening.
Even if penny stocks are unlikely to deliver multi-fold returns, there are stories that can double. Even a 50% to 100% return on penny and speculative stocks over a 12-month period would be more than desirable.
Let’s look at seven penny stocks that can double in the next 6-12 months.
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