Published on 27 Jun 2023 on Insider Monkey via Yahoo Finance

10 Special Situation Penny Stocks With Near Term Catalysts

In this piece, we will take a look at ten special situation penny stocks to consider. If you want to skip our analysis of the stock market and the economy, head on over to 5 Special Situation Penny Stocks to Consider.

For the stock market these days, it's nothing but cheers. June has proven to be a good month for economic sentiment, in a breath of fresh air after the turmoil that has greeted both institutional and retail investors for the better part of the last three and a half years. The current market turmoil started as it became clear that the coronavirus pandemic was here to stay. This pandemic ushered in lockdowns which naturally stifled economic activity and led to the stock market dropping by 30% during the first half of 2020.

Then, just as it was looking as if the pandemic's economic disruption was coming to an end at the tail end of 2022 and the start of 2023, the Russian invasion of Ukraine and the Federal Reserve's aggressive interest rate hikes started to make their mark. The invasion stimulated an already out of control inflation, and supply chain shocks due to global disruption didn't bode well for businesses either. Inflation peaked in the developed world during the second half of 2022 and started to gradually come down. The effects of these were clear as 2023 kicked off and the market rallied with the technology sector leading the charge.