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Back in September 2017, I picked seven beaten-down stocks to buy. I did so after reading a blog post from Ben Carlson, one of the best financial bloggers in the country. The problem with selecting beaten-down or penny stocks to buy is that they often come with a lot of baggage.
Baggage that’s not necessarily going to disappear overnight.
“When dumpster diving for beaten-down shares, you must be able to understand how far divorced fundamentals have become from investor expectations,” Carlson wrote in 2017. “While there were bargains galore in early 2009, late 2011 and even early 2016, if you want to find value in these markets, you have to go dumpster diving.”
Well, of the seven stocks on my list, only one, Kroger (NYSE:KR), is higher today than it was in September 2017.
The glutton for punishment that I am, I’ve decided to go back to the dumpster to find 10 penny stocks to buy trading under $5 as I write this. Hopefully, I’ll do a little better this time around. Compare Brokers
Penny Stocks to Buy: Banco BBVA Argentina (BBAR)
Source: Shutterstock
Market Cap: $765.9 million
Price-to-Book: 0.62
Banco Bbva Argentina (NYSE:BBAR), as its name suggests, is a financial services company based in Buenos Aires, Argentina. It has operated in Argentina since 1886. Its American Depositary Shares have been traded on the NYSE since 1993.
It is the fourth-largest privately-owned bank in Argentina with 7.7% of the country’s total banking system loans on a consolidated basis. At the end of 2019, it had 454 billion Argentine pesos in total assets on its balance sheet.
Banco Bilbao Vizcaya Argentaria (NYSE:BBVA) is a Spanish bank. It owns 66% of the Argentinian bank. Bank of New York Mellon (NYSE:BNY) is also a large shareholder with 18% of BBVA’s stock.
In 2019, it made 16 billion pesos on 88 billion pesos in revenue. That revenue is up significantly from 49 billion pesos in 2017.
However, investing in Argentina is not for the faint of heart. The country is notoriously bad at defaulting on its debt, making investments extremely volatile. That said, BBAR is cheaper than it has been in the past five years.
I would recommend the bank stock for aggressive investors only.
Editor's Note: For the other nine stocks, click here.
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