Today we are learning about the most successful penny stocks in history. Insider Monkey has recently published an interesting article about this topic. Insider Monkey recently published an article about this topic giving us some very useful tips. Today, penny stocks are known as one of the most volatile market options you can buy. The reason for this is the high number of fraud schemes that involve the stocks traded over-the-counter. Fraudulent brokers often intentionally purchase a large batch of penny stocks and create an artificial hype, in order to sell their shares at a higher price.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three of the most successful penny stocks in history.
The first one is Las Vegas Sands Corp. (NYSE:LVS). In 2007, Las Vegas Sands Corp. (NYSE:LVS) was booming as the company was doing exceedingly well in Macau, which was the most lucrative gambling market in the world. The company’s stock was trading near $150 per share, which made the company’s founder and CEO Sheldon Adelson the third richest American in 2007. However, the financial crisis sent the stock plummeting and in March 2009 it was trading under $2.0 per share. Mr. Adelson had to invest $1.0 billion of his money into the company. Since the crisis, the company’s outlook has brightened and the stock has rebounded and might still have some room to grow, given that it was affected by the recent gambling revenue decline in Macau. The second penny stock is GGP Inc (NYSE:GGP). Next in line on our list of most successful penny stocks in history is GGP Inc (NYSE:GGP) that had been trading well above $40 per share before the financial crisis hit the stock market. Between October 2008 and April 2009 it slid in the penny stock territory trading as low as $0.40 per share at one point. The stock has quickly recovered after the crisis, but it is still trading below the pre-crisis levels, so it may have some more room to grow, although the decline of the brick-and-mortar stores might put some pressure on it. The last stock for today is Concur Technologies, Inc. (NASDAQ:CNQR). We are continuing our list of most successful penny stocks in history with Concur Technologies, Inc. (NASDAQ:CNQR), an American SaaS company saw its stock slid into the penny stock territory in the second half of 2000 and stayed there for around two years. However in 2003 it started to gain ground and topped $20 per share in 2007. It went even higher in the following years until it was acquired by SAP SE (ADR) (NYSE:SAP) for $129 per share, which represented a 20% premium over the stock’s price of $107.80.
For any further useful information, read Insider Monkey’s article about 15 most successful penny stocks in history