<div id="readability-page-1">Penny stocks are some of my favorite stocks to watch. When these young budding companies release news, their stock prices can make tremendous moves. Of course, if the news is positive, those moves will generally be upward, and downward movement typically follows negative news. While short-term movements can be exciting, buying the right penny stocks early and holding them for the long run can lead to significant gains. Of course, it’s important to consider the risk too. Most penny stocks will ultimately fail. So it’s important not to invest any money you can’t afford to lose when investing in these small companies. Nonetheless, if you have $1,000 that you’d like to invest in penny stocks, you should consider diving into the following picks. Key Points: <ul> <li>Penny stocks are risky but can produce significant gains. </li> <li>Allogene Therapeutics has several ongoing clinical and preclinical programs that could lead to catalysts ahead. </li> <li>Yalla Group is a strong social networking and gaming play in an emerging economy. </li> <li>Kingsoft Cloud could skyrocket if analysts are correct. </li> <li>If you’re looking for low-cost stocks to buy now and make significant profits later, stop your search. Check out our free, new Discover “The Next NVIDIA” report to learn about two low-cost stocks that could grow by 10x or more ahead! </li> </ul> <h2>Allogene Therapeutics Could See Strong Gains If Trials Go Well</h2> <img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/03/imageForEntry3-HMC.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1366" height="768" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/03/imageForEntry3-HMC.jpg"/> Allogene Therapeutics (Nasdaq: ALLO) is a clinical-stage biotechnology company focused on using unique variations of CAR-T cells as potential treatments for blood cancers, solid tumor cancers, and autoimmune diseases. Impressively, the types of cancer the company is targeting with its therapeutic candidates are some of the most difficult forms of cancer to treat. Positive clinical data and eventual commercialization could set the stage for tremendous profitability. That is if all goes well in the clinic. The company is highly active in the clinic, too. It’s currently working on three Phase 2 clinical trials, four Phase 1 clinical trials, and a handful of preclinical programs. Of course, any positive data out of any of these trials or preclinical programs could send the stock screaming for the top. And with so many ongoing trials and programs, data releases can happen at any time. It’s also worth noting that analysts have an overwhelmingly positive opinion of the stock. 17 analysts have shared opinions, eight of whom rate the stock a Buy. Four analysts rate Allogene Therapeutics an Outperform, while five rate it a Hold. The median price target on the stock is currently $9 — not bad for a stock that’s trading at well under $3 per share. <h2>Yalla Group Is a Compelling Emerging Play</h2> <img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2024/07/GettyImages-631611026-scaled.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2560" height="1707" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2024/07/GettyImages-631611026-scaled.jpg"/> When I invest in penny stocks, I like to expand my search to find opportunities in emerging economies. After all, as those economies emerge, economic opportunities for the companies involved increase. That’s where Yalla Group (NYSE: YALA) comes in. Yalla Group is one of the largest social networking and gaming companies in the Middle East and North Africa. The company’s 36.2 million monthly active users in the fourth quarter show that it is growing quickly. In fact, monthly active users were up over 13% year over year, and there’s no sign that this growth will slow anytime soon. Importantly, Yalla Group has two sets of users — those who pay and those who access free services. Of course, free users are easier to increase than paid users, but Yalla Group is seeing growth in both. In fact, paid users were up over 6% in the fourth quarter. So what do the analysts think? There are only two analysts currently weighing in on the stock; one rates it a Buy, and the other rates it a Hold. The median price target is currently $5.70, representing the potential for significant growth ahead. <h2>Analysts Expect Kingsoft Cloud to Skyrocket</h2> <img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2019/12/imageforentry6-82h.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1366" height="768" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2019/12/imageforentry6-82h.jpg"/> Kingsoft Cloud (Nasdaq: KC) is a cloud computing service provider. The company offers services like CDNs, artificial intelligence tools and research, cloud services, and server load balancing among others. The company has been pretty successful. It has consistently produced growth in revenue and earnings for some time. In the most recent quarter, revenue was up over 3%, while diluted earnings per share were up over 30%. While that’s impressive, perhaps the most striking statistic about the stock is the fact that analysts expect such extreme growth ahead. There are currently 10 analysts weighing in on KC shares. Five of those analysts rate the stock a Buy, one rates it an Outperform, and four rate it a Hold. The median price target is currently $26.26, setting the stage for strong growth ahead. <div><div id="smartasset"> <h2>Want to Retire Early? Start Here (Sponsor)</h2> Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free. Click here to match with up to 3 financial pros who would be excited to help you make financial decisions. </div> </div>The post 3 Hot Penny Stocks to Buy With $1000 appeared first on 24/7 Wall St..</div>

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This article discusses three promising penny stocks: Allogene Therapeutics (Nasdaq: ALLO), Yalla Group (NYSE: YALA), and Kingsoft Cloud (Nasdaq: KC). Allogene Therapeutics is a clinical-stage biotech firm focused on advanced cancer treatments and has multiple trials underway, with a positive analyst outlook. Yalla Group is a rapidly growing social networking and gaming company in the MENA region, demonstrating strong user growth. Kingsoft Cloud, a cloud services provider, has exhibited consistent revenue increases and strong earnings growth. Penny stocks can yield significant gains but also carry high risks.