6 of the best penny stocks to buy today!

6 of the best penny stocks to buy today!

I’m looking for the best penny stocks to buy after the recent stock market correction. War in Ukraine — and the severe macroeconomic consequences of the tragic conflict — have raised the risks for many UK shares. But I believe that stocks as an asset class remains an attractive place to invest my cash.

Remember that the average long-term investor tends to enjoy an annual return of around 8%. That’s even accounting for periods of extreme market volatility like we’re seeing today. With this in mind let me talk you through six top penny stocks I’m thinking of buying right now.

5 Stocks For Trying To Build Wealth After 50

Markets around the world are reeling from the current situation in Ukraine… and with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains.

But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be a daunting prospect during such unprecedented times.

Fortunately, The Motley Fool UK analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global upheaval…

We’re sharing the names in a special FREE investing report that you can download today. We believe these stocks could be a great fit for any well-diversified portfolio with the goal of building wealth in your 50’s.

Click here to claim your free copy now! Staffline Group

I’d buy Staffline Group as a way to play the buoyant UK jobs market. That’s even though the impact of soaring inflation on the British economy could damage profits at cyclical shares like this. I believe conditions could remain strong enough for Staffline and the broader recruitment industry to thrive despite of recent developments.

Just this week, employment advice service ACAS reported that a weighty 41% of UK firms expect to raise their headcount in 2022. This bodes well for Staffline, a company which provides both recruitment and training services to businesses. Underlying operating profit at Staffline leapt more than 108% in 2021 as the jobs market bounced back from the pandemic. Residential Secure Income

I believe Residential Secure Income could be an ideal penny stock in these uncertain times. Property shares like these provide investors with protection from rising inflation as the rents they charge often lift in line with broader prices.

What’s more, this particular UK share specialises in renting out residential properties. This is one of the most resilient parts of the real estate market, providing investors with added safety. We all need a place to live even when economic conditions worsen, right?

This earnings stability gives Residential Secure Income the means to pay above-average dividends year after year. City brokers certainly expect this theme to continue and it’s why the penny stock’s yields sit at 5.3% and 5.4% for the next couple of fiscal years.

My main concern for Residential Secure Income is that talk of rent controls is hotting up as the cost of living crisis worsens. This could naturally take a big bite out of future earnings. Pendragon

I’m looking for the best electric vehicle (EV) stocks to buy as demand for these low-emissions vehicles soars. I believe car retailer Pendragon is one UK share that could also thrive as people switch from petrol and diesel to battery- and hybrid-powered cars. Recent Ofgem research suggests that as many as one in four British households plan to purchase an EV or a plug-in hybrid by 2026.

Companies like Pendragon — which has partnered up with 21 major auto manufacturers — will clearly have an important part to play in this green driving revolution. However, I am mindful of the threat that elevated commodity prices pose to sales of these next-generation vehicles. Analysts at Morgan Stanley have predicted that recently-soaring nickel values alone could add $1,000 to the price of an EV. TheWorks.co.uk

I also think buying value retail stocks like TheWorks.co.uk is a good idea as the cost of living crisis worsens. This penny stock sells games, toys, books, craft items and stationery cheaper than much of the high street. Therefore, it stands to pick up customers as strained shopping budgets and money worries force people to shop around. The Centre for Economics and Business Research says household financial confidence has just slumped to 10-year lows.

As its name suggests, TheWorks.co.uk also operates an online channel too. This gives it the edge against many other value retailers and will allow it to capitalise on the […]

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