The iShares Micro Cap ETF (NYSEARCA:IWC) has declined by 19% year-to-date. However, several penny stocks have witnessed a correction of more than 50% in the last two quarters. Every correction provides investors with a medium to long-term entry opportunity. There are penny stocks trading at a discount that are worth considering at current levels.
Investors need to tone down their expectations when it comes to penny stocks. Multi-fold returns in a few months are unlikely. However, penny stocks trading at a discount can deliver returns that comfortably beat the index.
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