Published on 25 Jul 2023 on TipRanks via Yahoo Finance
These 2 ‘Strong Buy’ Penny Stocks Could Go Boom, Say Analysts
Since the beginning of January, we’ve seen a steady rise in the stock markets. The NASDAQ is up 35% so far this year, and the S&P 500 has gained 19%. There has clearly been a shift in investor sentiment, away from last year’s bear market.
The shift makes sense. The annualized rate of inflation peaked at 9.1% last June, fell to 6.5% by December, and has since fallen further. The June 2023 data showed annualized inflation at just 3%. Additionally, Goldman Sachs currently assesses the probability of a US recession in the coming year at just 20%. All of this has investors feeling that the worst may be behind us, and that it’s worth taking on some added risk.