One penny stock I am considering for my portfolio right now is Lookers (LSE:LOOK) . Here’s why. Automobile dealer
Lookers is a multi-franchise car dealer group with relationships with over 30 car manufacturers throughout the UK and Ireland. It has roots stretching back to 1908, when it was founded by John Looker, and it has been listed on the London Stock Exchange since the 1970s.
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Penny stocks are those trading for less than £1. As I write, Lookers shares are trading for 96p. At this time last year, the shares were trading for 37p, which is a 159% return over a 12-month period.Despite semiconductor supply issues halting the supply of new cars, as well as supply chain issues, Lookers has performed well. I believe this is because many consumers have turned to buying used and nearly new cars here in the UK. In fact, the used car market is booming . Dealerships like Lookers, who sell new and nearly new cars, have benefitted. Penny stocks have risks Lookers’ progress is at […]
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