5 Penny Stocks to Buy Now

Penny Stock 3
ION Geophysical Corp. (IO)

Oil prices are on the rise again. As a result, it’s highly profitable for oil companies to increase exploration activities.
Serving that market is ION Geophysical Corp. (IO).

Thus far, IO is the one stock that has failed to yield any gains in 2009. Shares are down approximately 6%. This includes being
down more than 10% on Wednesday of this week due to a less-than-stellar earnings and future guidance report.

The market appears to be missing the mark. IO is a lagging indicator on the economy. When oil prices are falling, lower prices
will adversely impact IO results for months after. It should be no surprise then that the company is struggling with oil prices
dropping hard over the last 10 months.

That said, oil has been trending higher this year. Such a state should bode well for IO, and the company did say that they are
seeing more land-based exploration activity as of late.

It may be late in coming, but I expect IO to do very well in the last half of this year as oil prices continue to rise.

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