While most investors won’t admit this, part of the fun of playing the market is the feeling that you are a magnificent hunter charged with the task of locating and learning about undervalued stocks that have the potential to make you richer beyond your wildest dreams. We may not be out on the Great Plains any longer hunting down buffalo with homemade spears, but we are using those same instincts to provide for our families and have a bit of a trophy at the same time. Penny stocks are the Holy Grail of investing for many since they represent the ultimate “diamond in the rough” find. As always with penny stocks, the more research, reading and thinking you do, the better off you’ll be, but here are a few companies making penny stock news in the last few months.

While it is important to keep your moral bearings when you invest, it is no secret that some businesses flourish during economic slowdowns and some don’t. Therefore, a smart investor is going to put their money with a company that shows great growth potential over the coming months and even years. One company making penny stock news over the last few weeks is BIDZ.com (NASDAQ: BIDZ). BIDZ.com is one of the hottest online resellers of jewelry, including gold and silver. One activity, like it or not, that always happens during times of economic crisis is that people part with items they don’t really need, like jewelry. Currently trading at a little over $6 a share, BIDZ.com looks to be ready to challenge industry giants like eBay for supremacy when it comes to online auction sites that specialize in jewelry.

Ivanhoe Mines (NYSE: IVN) is an almost unheard of mining company that has been in intense negotiations with the government of Mongolia to begin gold and silver mining in that area. While things still haven’t been finalized, this small cap darling is trading at only $2 a share and has the potential to explode should the potential mining operation bear fruit. Who knows, maybe we’ll see gold jewelry made from the gold mined by Ivanhoe Mines for sale on BIDZ.com. Wouldn’t that be some interesting stock synergy?

For some old school investors, the definition of a penny stock is literally that: a stock with a share price under a single dollar. One company that currently fits that mold is CDEX.com, a company that creates cutting edge tools for law enforcement. With a share price of only $.15, you would be hard pressed to find a company with less risk and a bigger upside. Any sociologist can tell you that one of the first things that rises during a time of economic recession is crime. CDEX.com recently showcased a whole series of new items at a local trade show and the reaction was said to be very positive. If orders for these new drug identifying technologies begin to come in from police departments across the nation, CDEX stock is sure to skyrocket.

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Tags: Penny Stock News, penny stock picks, penny stock reserach, penny stocks to watch