5 Best Penny Stocks to Buy Now

4. 88 Energy Limited (OTCMKTS: EEENF)

88 Energy is one of the 10 best penny stocks to buy now. The company explores oil and gas in the U.S., with a 64% working interest in the Icewine project, and a 100% interest in Yukon Gold leases covering an area of approximately 15,235 acres located on the eastern border of the Central North Slope of Alaska. Market chatter suggests that 88 Energy could be a takeover target in the coming days. Investors are also anxiously awaiting results for the Alaska well where the company recently started drilling. Reports also suggest that the company’s former managing director Dave Wall upped his ownership of the company from 39 million shares to 120 million shares.

The stock is up 2,240.00% over the last 12 months.