3 penny stocks that will cost you less than $1 each

Penny stocks provide decent opportunities to assess the long-term potential of a company. Most of the times, penny stocks are high-growth small companies. Meanwhile, a continued erosion of market value may also put a company in the category of penny stock. For instance, Myer Holdings (ASX:MYR) closed at $0.32 on 17 February. MYR stock has lost its value significantly over the years and has a market capitalisation of about $275 million. It reported sales of over $2 billion in FY20. It becomes imperative to conduct due diligence in any investments, and for penny stocks – the risks should be coherently evaluated by any investor. Penny stocks will mainly include high-growth small business or battered-down big companies, which could mean high-execution risks or deep value. Good Drinks Australia (ASX:GDA) Fluence Corporation Ltd (ASX:FLC) Vmoto Limited (ASX:VMT) Read More: https://kalkinemedia.com/au/news/stock-market/3-penny-stocks-that-will-cost-you-less-than-1-each