Penny stocks are a great way to generate big profits in a short period of time.

The best part is, you don’t need a lot of money to do it.

That’s because penny stocks trade for less than $5 per share.

So, if the penny stock you’re eyeing is trading for $0.50, you can buy 100 shares of the company for only $50.

And all it has to do is increase another 50 cents for you to double your money.

The hard part? Finding the right penny stocks…

I look at as many penny stocks as I can, but rarely find one that's worth pouncing on…

Right now, I'm watching these penny stocks very carefully.

Ideanomics Inc. (NASDAQ: IDEX)

Stock Price: $2.62 // Cost to buy 100 shares of IDEX: $262

Ideanomics Inc. (NASDAQ: IDEX) is a global company focused on facilitating the adoption of commercial electric vehicles and developing next-generation financial services and fintech products.

Its electric vehicle division, Mobile Energy Global (MEG) provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity as well as financing and charging solutions.

The company’s financial division, Ideanomics Capital, provides financial services solutions powered by AI and the blockchain. Geographically, the company generates a majority of its revenue from the United States.

Transocean LTD (NYSE: RIG)

Stock Price: $3.52 // Cost to buy 100 shares of RIG: $352

Transocean LTD (NYSE: RIG) commands one of the largest deep-water and ultra-deep-water fleets in the world.

The company’s rigs operate globally, but the major deep-water basins are in West Africa, Brazil, and the Gulf of Mexico.

Transocean's customers tend to be national oil companies, independents, and international oil companies.

New Gold Inc. (NYSE: NGD)

Stock Price: $1.83 // Cost to buy 100 shares of NGD: $183

Headquartered in Toronto, New Gold Inc. (NYSE: NGD) is an intermediate gold mining company with operations across the globe.

The company has a portfolio of three producing assets: The New Afton Mine in Canada, the Mesquite Mine in the United States, and the Cerro San Pedro Mine in Mexico.

In addition, New Gold owns 100% of the Rainy River and Blackwater projects in Canada, along with a minority stake in the gold stream on the El Morro project in Chile.

The New Afton Mine is the largest division, contributing roughly 50% of group revenue.

Autoweb Inc. (NASDAQ: AUTO)

Stock Price: $2.71 // Cost to buy 100 shares of AUTO: $271

AutoWeb Inc. (NASDAQ: AUTO) is a digital marketing company for the automotive industry.

The company helps automotive retail dealers and automotive manufacturers to market and sell new and used vehicles to consumers.

AutoWeb generates business through programs for online lead and traffic referrals, dealer marketing products and services, online advertising and mobile products.

Patent-Hoarding Company Holds Tech Industry HOSTAGE (With $3 SuperStock)

Sponsored

Most companies file for a patent and wait years to proceed with business…

But not these guys.

In fact, they own exactly 45,599 global patents…

And now EVERY major tech company is forced to do business with them.

The crazy thing is…

Their stock is trading for only $3 a share…

And almost NOBODY knows how to invest in it because it trades under a secret name.

This information wasn't supposed to get out.

These guys are set to make a huge deal with Apple…

And it's only a matter of time before word gets out and people start jumping on the bandwagon.

Click here to see why one market expert is calling this a “single-stock retirement play.”