Penny stock to watch: Magnetek Inc.
Global macro: Stock to watch – Magnetek (MAG) trading at NASDAQ.
The company, which provides electronic power solutions to automate heavy machinery, have published an astounding 36% profit since last year’s report. And they have been solid in the earnings dept. One of the fields that Magnetek is pioneering, is renewable energy.
The stock is currently trading at $2.00 a share (after a 3.36% increase from last friday’s trading session). Currently, Magnetek’s market capitalization is of 62.62M.
I have a number of reasons to believe that the stock has enough grounds to develop. Additionally, Matt Schifrin, one of the Forbes ‘gurus’ and also vice president and investing editor for Forbes Media, have recommended Magnetek Inc. on the 17th of February as one of the good penny stocks to buy in 2011.
Read the Forbes full article here.
Please refer to the respective disclaimer @ the first post on the blog for details on the basis on which you may use the contents of this page.