When looking for penny stocks to buy, I recommend focusing on
the basics. That means investing in penny stocks with strong
earnings and momentum behind shares. Buying penny stocks that are
growing and healthy is crucial, because many low-priced stocks
are on the way down - and represent big risks to your
Take penny stock
), a low-priced company that is very liquid. SIRI stock has
jumped by over +70% so far this year and analysts continue to
improve their outlook for Sirius XM. That's growth you can bank
Here are 7 penny stocks, including Sirius XM, that are proving
themselves to be great investments right now:
iGo Inc. (
Computers & Peripherals
) provides products and solutions for the electronics industry,
and sells its products through retailers such as
) and wireless carriers like
). Since January, iGo's stock has climbed +42.3%.
This is much better than the broader markets, as the Dow Jones
Industrial Average and Nasdaq are up just slightly on the year.
iGo has also outperformed analysts' estimates for the past two
quarters by a combined 175%, proving it is healthy and
Harris Interactive Inc. (
Professional service firm
Harris Interactive Inc.
) provides its clients with market research and polling
services. Its services include customized qualitative and
quantitative research, service bureau research and long-term
tracking studies. While this penny stock may be down -15.1%
year-to-date, it is up +135% from this date last year.
Additionally, news that Harris Interactive has expanded its Asia
sales division has analysts excited, and I'm bullish on HPOL
stock as a result.
Spanish Broadcasting System (
With 21 radio stations and two television stations in the
Spanish Broadcasting System
) is a Hispanic-controlled media and entertainment company.
SBSA also operates LaMusica.com, Mega.tv and websites for each of
its radio stations. In its last income statement, SBSA
reported a quarterly revenue growth of +11% year-over-year.
Additionally, the fact that SBSA stock is up +47.4% year-to-date
makes this penny stock a strong growth opportunity.
Emmis Communications (EMMS
Emmis Communication Corp.
) is a media company primarily focused on radio
broadcasting. This penny stock owns and operates numerous
AM and FM radio stations in major U.S. cities including New York,
Chicago and Los Angeles. Additionally, this media company
owns numerous magazines including Texas, Los Angeles and Atlanta
Monthly, among others. With a current stock price of $1.65,
Emmis is up +41.6% since the start of 2010. Likewise, the
communication company outperformed analysts' estimates by 300%
Fiber Optic Products (
Fiber Optic Products
) is a designer, manufacturer and marketer of fiber optic
components for communication equipment manufacturers. It
also offers numerous interconnect devices including couplers and
splitters used to combine optical power. This penny stock has
made great strides in 2010 and is up +52.5% against minimal gains
from the broader markets in the same period. Additionally,
AFOP has beaten earnings estimates by 100% for two straight
ICO Global Communications Holdings (
Wireless telecommunication service provider
ICO Global Communications Holdings Ltd.
) is a development stage mobile satellite service operator.
Despite the fact that ICO has not been able to complete any
additional satellites since December 2004, the penny stock has
one satellite in orbit, and 10 satellites currently in the
production stage. This penny stock has also boomed in 2010,
and has seen gains of 84.3% since January. Trading at just
under $2.00, ICO looks poised to continue its strong year.
Sirius XM Radio Inc. (SIRI)
Sirius XM Radio Inc.
) broadcasts music, sports, news, talk, entertainment and weather
channels in the United States through its satellite radio
systems, for a subscription fee. Sirius owns both XM
Satellite Radio Holdings Inc. and Satellite CD Radio Inc.
Since January, this penny stock has climbed 72.1% and is
currently trading at $1.03 per share. Analysts are
projecting Sirius to have a sales growth of 13.4% this quarter,
and the satellite radio company has also outperformed earnings
estimates two of the last four quarters.
As of this writing, Louis Navellier did not own a position
in any of the stocks named here.
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