With the 2024 election just months away, we wanted to take a look at some of the top penny stocks to buy. All of which could benefit from whoever wins.
Look at gold, for example.
If we go back to the presidential elections of 2004 through 2020, we can see that in the months leading up to the election, gold prices push higher on election uncertainty.
Before the 2016 election, gold rallied from a January low of $1,061 to a high of $1,308 by the election. Gold then plummeted post-election to a low of about $1,125 before recovering to $1,309.30 by December. Before the 2020 election, gold jumped from a January low of about $1,519.70 to $1,912.20 by November. Post-election, gold dipped to about $1,776.50 and would go on to hit a high of $1,962.50 by December.
Even cannabis stocks should move heading into the election, especially with a key legalization vote in Florida. Plus, with 88% of the American public for legalization, any candidate that positively mentions it could see an uptick in votes.
Also, since we are talking about penny stocks to buy, be cautious.
Per the US SEC, “Investors in penny stock[s] should be prepared for the
