2 “Strong Buy” Penny Stocks That Could See Outrageous Gains
Well, it’s official. Joe Biden is now president, and he will be backed – at least in the short term – by Democratic majorities in both houses of Congress. Wall Street is taking the measure of the new administration and seeing, among its first steps, a fiscal stimulus that could lower consumer spending, boost corporate profits and provide general economic support in the first half of 2021. Goldman Sachs is investment strategist David Kostin, optimistic about the short-term outlook for fiscal stimulus. In light of this, Kostin sets Goldman’s outlook for this year at 6.4% GDP growth; he sees continued high growth next year and sets the forecast for 2022 at 4%. These outlook figures are up from the 5.9% and 3.7% previously published. To that end, Kostin predicts that the S&P 500 will reach 4,300 by the end of the year, which would represent a gain of 12% from current levels. “The elections have …
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