Don't Waste Your Money on Penny Stocks; These 3 Are Better Buys
Putting your money in penny stocks can be tempting. After all, if shares of a company are going for a couple of bucks apiece, a relatively small investment could turn into a fortune if the company's stock rises significantly.
However, while some penny stocks are worth serious consideration, most of them are cheap for a reason, and investing in them can be highly speculative. Instead of gambling on the chance that you will hit the penny-stock jackpot, consider these three established companies sure to earn you solid returns for many years to come: Gilead Sciences (NASDAQ: GILD), Square (NYSE: SQ), and Visa (NYSE: V).
There's been a lot of noise about Gilead Sciences lately due to its involvement in the fight against COVID-19. The company's antiviral drug, remdesivir -- which was perceived as one of the most promising potential treatments for the novel coronavirus -- received emergency-use authorization from the U.S. Food and Drug Administration (FDA) back on May 1. On May 7, remdesivir was approved for COVID-19 patients in Japan. But I think there are even better reasons than its involvement in the fight against COVID-19 to buy shares of this company.
Source Fool.com
