3 penny stock I think the price will go up!

UK stock markets have been battered by a storm in recent weeks. From companies of all sizes, from FTSE 100 Like penny stocks, investors’ confidence has plummeted and everyone has been severely damaged.

But not all British stocks suffered extensive washing. In fact, the following selection of penny stocks has actually risen strongly in the last month. This is why I think even these top cheap stocks can climb in price.

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Gold Star for downtrend booking

The timing has been tough for many gold-producing stocks in the UK lately. The combination of rising bond yields and bouncing US dollars has reduced gold and gold-producing stocks. But Scotgold Resources (LSE: SGZ) did not face any such misfortune. It has seen a 16% increase in prices since September 8th. This cuts the total loss in 12 months to 45%.

Scotgold’s share price has risen as a series of positive functional updates continue. And I think the recent revival of penny stocks may continue as global inflation goes through the roof. The new chief economist at the Bank of England just said that the recent rise in inflation could be bigger and more lasting than previously expected. It is likely to drive the price of gold through the roof again.

Of course, if bond yields and the US dollar continue to rise, cheap prices could fall. A improving outlook for the global economy could also hurt demand for such safe haven resources. That said, I’m still late and want to buy the impressive performance performance Scotgold in that rising inflation environment.

A penny stock for the digital age

Fintech Payment Specialist Equal groups Prices have risen nearly 160% in the past month, bringing the 12-month total profit to 11%. Penny stocks are trading a roar as society becomes increasingly cashless and clicks through the digital revolution gear. The latest fiscal last month saw revenue grow 23% between January and June.

Penny Stock’s decision to move away from retail and travel and towards B2B is becoming handsome. It is busy expanding its product range to win the business. And its balance sheet is strong enough that it can continue to invest to grow. I think it is a top stock to buy, although it operates in a highly competitive market and poses a risk for future sales.

Raven flew away

Raven Property Group Last month saw a good 9% increase. And so the profit has improved on a 12 month basis and now stands at 20%. This penny stock supplies warehousing resources in the main Russian metropolitan areas of Moscow and St. Petersburg. I believe profits will increase here as e-commerce activity in Russia balloons. Financial holdings rose 96% in late August to June, up two percentage points from the end of 2020.

The outlook for Russia’s economy (and, through expansion, consumer spending power) has improved even after the recent rise in gas prices. But the price of fossil fuels threatens to fall further as green energy becomes more popular over the next decade.

That said, I still think e-commerce possession makes Raven property an attractive buy.

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Ryston Wild has no position on any of the shares mentioned. Motley Flower UK has no position on any of the shares mentioned. The opinions expressed in the companies mentioned in this article may differ from those of the authors and therefore the official recommendations we make on our subscription services such as Share Advisors, Hidden Winners and Pro. Here at The Motley Flower we believe that considering a variety of insights makes us a better investor.

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