Forget Penny Stocks -- Here Are 2 Better Stocks to Buy in August

Investors love penny stocks because of their low prices and seeming potential for explosive growth. But these companies are often extremely risky, with unproven business models and questionable management. Instead of speculating on penny stocks, investors should consider rapidly growing small-cap stocks that can deliver multi-bagger results over the long term without as much risk.

The two I'll focus on today are Celsius Holdings (NASDAQ: CELH), a fast-growing fitness drink company with a massive expansion into Europe; and Jumia Technologies (NYSE: JMIA), a promising e-commerce platform focused on the largely untapped African market. Both stocks will make great buys in August. 

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Source Fool.com