2 penny stocks to buy in June
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As the UK economy continues to open up, I’ve been looking for penny stocks to add to my portfolio. Here are two companies I’d buy ahead of the next stage of reopening in June.
Penny stocks to buy
The first company on my list of penny stocks to buy is hospitality business
Marston’s(LSE: MARS). As the economy reopens, consumers are out to spend their lockdown savings.
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1 AIM stock to avoid
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The stock market can sometimes be like a Premier League season. You keep rooting for the big boys and all of a sudden, a certain Leicester City team outfoxes the whole lot. The Alternative Investment Market (AIM) happens to produce such stocks every now and then. I’m not saying that investing in AIM stocks is good or bad in general, just that they normally happen to be either ‘high-risk high-gain’ or ‘low-risk low-gain’ deals.
Looking for AIM stocks, I stumbled upon
Springfield Properties(LSE:SPR). The company doesn’t exactly have a high market cap but recent months have been quite dynamic in terms of the share price, peaking at 165p and plummeting to 142p in the past three months. The recent fluctuations in the share price made it quite difficult for me to predict if there was potential for me to make gains from investing in the shares now.
2 cheap penny stocks to buy in June
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Many UK share investors don’t like penny stocks. This is because their low liquidity can lead to extreme price volatility and share pickers can often end up selling at a big discount to what they bought for.
As a long-term investor, though, I’m not put off by the prospect of fresh choppiness. If I buy quality stocks, regardless of whether or not they trade below £1, I think they should still surge in price over a long time horizon. Here are two penny stocks I’d happily buy in June.