Top Internet Penny Stocks in October 2018
E-commerce and internet businesses are expanding all across the world. Consumers and businesses can now choose from a broad array of purchase options all at their fingertips through the use of the internet. Retail has been revolutionized by Amazon and the large discount stores like Walmart and Target are all increasing their focus on internet e-commerce as channels for revenue growth. Meanwhile, banking is also moving online with a growing number of online lenders like Lending Club and Prosper, making it easier and even more affordable to get a loan in minutes. With this growing market comes many new growth opportunities for investors who are willing to take on some of the higher risk for a potentially higher return in the long run.
As with nearly all sectors there are a variety of stocks and also several exchange-traded funds investors can look to for exposure to the internet. Some of the larger capitalization stocks like Amazon and Alphabet have price ranges above $1,000. The Invesco NASDAQ Internet ETF (PNQI) is one option in the large cap space for a diversified portfolio that includes Amazon, Alphabet, its FAANG peers – Facebook and Netflix, and also some of China’s largest names like Baidu.
As another alternative, there are also penny stocks. Penny stocks are defined as stocks trading for less than $5.00. Penny stocks, like all investments, can come with some caveats. In some cases, stocks may have descended to penny status because of declining earnings or problematic issues. Thus, penny stocks may not always be the low-cost options that investors find them to be. However, in many cases penny stocks are newly listed companies, with limited historical information but high growth potential. They can also be a great way to invest in high growth sectors like the internet.
Below are the internet sector’s top performing penny stocks by one-year total return as of October 19, 2018. Stocks include securities traded within a range of 10 cents to $5.00.
Imine Corp (JRVS)
Imine Corp tops the list of internet penny stocks. The stock is trading at approximately 20 cents with a one-year return of 344.38%. The company operates as an industrial conglomerate. Its business is in blockchain technology. The company manufactures and services a GPU-based mining rig for the mining of cryptocurrency. The company has secured partnerships with Nvidia and Gigabyte Technology for the development of its mining rig. Imine Corp. is one blockchain company that has managed to report a positive total return over the last year with many blockchain stocks struggling.
Liberated Syndication (LSYN)
Liberated Syndication has a one-year total return of 38.33%. The stock trades at approximately $1.65. The company has its headquarters in Pittsburgh, Pennsylvania. It markets itself as a podcast hosting service. It provides a broad range of services to clients developing podcasts including podcast hosting, publishing, listing in iTunes, and more.
The Meet Group (MEET)
The Meet Group is the third ranked internet penny stock by total return. Its stock trades at approximately $4.58. It has gained 30.30% over the one-year period. The Meet Group has a portfolio of applications for social networking. Its brands include meet me, LOVOO, SKOUT, TAGGED and hi5. All of its platforms focus on social connection and it uses data science to facilitate connections for its users using a variety of characteristics, all supporting the social goals of its users.
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