Penny Stock Pitfalls: 3 Ticking Time Bombs to Bail On Now | Markets

There is an argument that investors should avoid all stocks trading under $5. Therefore, theoretically, the list of penny stocks to sell is very long.

According to Finviz.com, there are 1,511 stocks listed on the Nasdaq with a market capitalization of $300 million or higher. On the NYSE, there are approximately 1,958 stocks with a market cap of over $300 million. The former has 138 trading under $5, while the latter has 105.

The task at hand is to recommend three penny stocks that are ticking time bombs. These companies are likely losing money now and well into the future, have significant debt, and are generally businesses with little in the way of prospects.

And, of course, as all penny stocks do, they trade under $5.

Here are my three to sell now.

Penny Stocks to Sell: MultiPlan (MPLN)

The depressing thing about all three of my penny stocks to sell is that I’ve spoken positively about two at some point. It’s time to admit some of my mistakes.

MultiPlan (NYSE:MPLN) provides the U.S. healthcare industry with data analytics and end-to-end cost management, payment, and revenue integrity solutions.

I don’t believe I’ve ever written anything positive about the data analytics company.

I did call the combination of MultiPlan with Churchill Capital Corp. III, a SPAC…

Source investorplace.com

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