Penny stock investing can be a great way to diversify one's
portfolio during tough economic times. By adding a few
aggressive, low priced stocks you can supercharge your profits.
However, penny stock investing can be very risky so I recommend
finding bargain stocks with a proven track record. Namely, penny
stock investments with earnings growth or strong buying pressure
Here are seven low-priced tech stocks that have fared very
well in 2010 thus far and get my seal of approval. These aren't
"penny stocks" per se, but at less than $2 a share all are very
affordable and could make profitable additions to your
Sirius XM Radio Inc. (
Sirius XM Radio Inc
) is the owner of two subsidiaries: XM Satellite Radio Holdings
Inc. and Satellite CD Radio Inc. The company broadcasts
music, sports, news talk, entertainment, traffic and weather
channels across the United States for a subscription fee.
Combined, the two companies have eight in-orbit satellites and
nearly 800 terrestrial repeaters. This penny stock has
fared very well in 2010, and is up +67.5% year-to-date, against
marginal losses by the broader markets. In its last income
statement, SIRI reported revenue of 2.66 billion along with a
quarterly revenue growth of +18.4% year-over-year.
Great Basin Gold Ltd. (
Headquartered in Vancouver,
Great Basin Gold Ltd.
) is engaged in the acquisition, exploration, development and
trial mining of precious metals. This penny stock has
recently begun exploring precious metal deposits in Tanzania and
Mozambique. Since January, GBG has seen a stock increase of
+10.5%, and boasts a current share price of $1.89. Analysts
are estimating earnings of $0.02 this quarter, which is up from
an EPS of -$0.03 a year ago.
Globalstar Inc. (
Provider of mobile voice and data communications,
) uses 44 in-orbit satellites and 27 ground stations to serve its
customers. This wireless communications company also sells
its communication services on a wholesale basis to independent
companies. Since the start of 2010, GSAT stock has risen
+95.4%. With a quarterly revenue growth of +2.7%, GSAT is a
strong stock to buy at its current share price of $1.70.
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. ICO has also had a very productive 2010,
and is up +37% on the year, compared to small losses by the
broader markets. Looking at its last 52 weeks, this penny
stock has seen a major increase of +131%.
Tower Semiconductor Ltd. (
) is an independent specialty foundry that manufactures
semiconductors. This penny stock's products are used in a
wide range of consumer electronics including personal computers,
medical device products and automotive products. A +53.6%
year-to-date climb in stock price has Tower shareholders very
satisfied. Additionally, this penny stock outperformed
earnings estimates by 367% last quarter, and is hoping to
maintain its positive momentum this quarter.
Quest Capital Corp. (QCC)
Quest Capital Corp.
) provides real estate mortgage financing in Canada. Based
in Vancouver, the majority of Quest's clients are owners of
multi-unit residential buildings, land and commercial
properties. Since January, this penny stock has climbed
+36.6%, and is up an even +50% from last August. Quest's
stock price currently sits at $1.53, and its recent performance
has far outpaced the Dow Jones Industrial Average and NASDAQ,
which are down -0.9% and -3.4% year-to-date, respectively.
Powerwave Technologies Inc. (
Based in Santa Ana, Calif.,
Powerwave Technologies Inc.
) is a global supplier of end-to-end wireless solutions for
wireless communications networks. Powerwave designs,
manufactures, markets and sells products that improve coverage,
capacity and data speed in wireless communication networks.
Since January, this penny stock has gained nearly +30%, and has a
current stock price of $1.59. Additionally, the fact that
Powerwave outperformed earnings estimates by +100% last quarter
makes this stock a strong buying opportunity.
As of this writing, Louis Navellier did not own a position
in any of the stocks named here.
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