No matter how many warnings experts issue regarding penny stocks, people invariably find their way into this speculative arena. And that issue has become even more prominent thanks to mobile trading apps like Robinhood (NASDAQ:HOOD). With the ability to wager on the full spectrum of investment vehicles right at your fingertips, Robinhood is somewhat of a mixed bag.
On the one hand, let’s at least give credit where it’s due. Prior to the novel coronavirus pandemic, financial analysts bemoaned that younger people were investing at a lower rate than prior generations at their age milestones. Suddenly, with extra time on their hands and government stimulus checks in the mail, many folks started making up for lost time. However, quite a few did so through penny stocks.
That’s not to say that this segment of the market is inherently a poor choice. Many of today’s blue chips once started off as little more than a dream, with share prices reflecting this risk profile. But with patience and truckloads of good fortune, you can make a killing with penny stocks.
Top Blue Chip Stocks To Own Right Now: Greene County Bancorp, Inc.(GCBC)
Greene County Bancorp, Inc. operates as a holding company for The Bank of Greene County that provides various financial services in New York. Its deposit products include savings, NOW accounts, money market accounts, certificates of deposit and non-interest bearing checking accounts, and individual retirement accounts. The companys loan portfolio consists of residential, construction and land, and one to four-family residential mortgage loans; commercial real estate mortgage loans; consumer loans, such as loans on new and used automobiles, personal loans, and home equity loans, as well as consumer installment loans, including passbook loans, unsecured home improvement loans, recreational vehicle loans, and deposit account overdrafts; and commercial loans. It operates a network of 13 full-service banking offices located in the Hudson Valley Region of New York State. The company was founded in 1889 and is headquartered in Catskill, New York. Greene County Bancorp, Inc. is a subsidiary of Greene County Bancorp, MHC.