Multibagger Penny Stock For 2022
Investing in penny stocks is risky because even small triggers can lead to stock price volatility. However, many penny stocks have shown good signs of growth this year.
People are looking forward to 2022 now that the New Year has started. Retail stock market investors are searching for possible penny stocks that could be multibaggers in the future. One of these stocks is Pil Italica Lifestyle or Pilita stocks.
The Pilita share price has been under selloff pressure since April 2021, but it has shown a strong recovery in recent trade sessions. The small-cap company has a PE ratio of 49, which makes sense given its size and the associated liquidity issues. It may hit ₹19 to ₹20 levels in short order.
It has broken out above ₹10.40. The company trades for only 45% of its 52-week high of ₹19.20. Pilita share price is set to rise above ₹35-38 apiece levels, which could be a value proposition for investors.