2 promising penny stocks to buy on the dip

For those who are willing to stomach the volatility, penny stocks offer an exciting opportunity to get in on the ground floor of tomorrow’s successful businesses.

Here are two that could be a good fit for my portfolio:

Red Cat Holdings

This Puerto Rico-based company produces drone products, technologies and services.

Over the last decade, drones have become increasingly noticeable at parks, on beaches and in other open-space areas.

Aside from the hobbyist drone market, the technology is also being adopted in a range of industries, from videography to weather monitoring, firefighting and even delivery services.

Red Cat Holdings (NASDAQ:RCAT) offers investors a chance to get a piece of the drone market, valued at $100bn in 2020 and growing at 20.5% annually.

Most eye-catching is the company’s ‘drone box’ technology, which is the equivalent of the ‘black box’ on an aeroplane. By tracking drone flight data, the…