3 financial stocks to buy for $1
These shares are seeing big buying pressure, so they're very affordable.
By Louis Navellier, Investorplace.com
Penny stocks can be tricky for many retail investors, with
shares trading for only a few cents always listed on the pink sheets and
frequently involving high fees and high risk.
But the next-best thing is to go for low-priced investments that barely qualify for the major exchanges, skirting the $1 share price limit.
Right now, a number of decent small-cap financial companies are right on the line with shares at around a buck apiece. To help you get into these picks before they take off, here's my list of three cheap financial investments to buy now:
Holding company Atlantic American (AAME) operates through its subsidiaries within life, health, property and casualty insurance industries. Atlantic American's largest subsidiaries are the American Safety Insurance Company, American Southern Insurance Company and Bankers Fidelity Life Insurance Company. Year to date, this penny stock has climbed 12.5% and has jumped an impressive 77.8% over the past 12 months. With a market cap of $32.1 million and a stock price of $1.44, Atlantic American could be a valuable penny stock to buy due to its strong gains in recent history.
Based in Michigan, Dearborn Bancorp (DEAR) is the holding company for Fidelity Bank. The bank offers a slew of financial services, including checking accounts, savings accounts and money market accounts, just to name a few. Dearborn has seen extraordinary gains since January, as the stock has jumped 201% during that time. The penny stock has far outpaced the broader markets which have remained close to even during the same time frame.
Quest Capital (QCC) is a real-estate mortgage financing company whose borrowers include owners of multi-unit residential buildings, commercial properties and land. Quest generates its revenue off of the interest it collects from its various loans. Since January, Quest’s stock has risen an impressive 45.5% and a total of 68% since last September. Additionally, this penny stock posted a net profit margin of 10.8% in its last earnings report. The stock is currently trading at $1.65 per share.
For three more penny stocks to buy, click here.
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The offering could become the second-biggest this year if underwriters exercise an option to buy more shares.
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