15 BEST PENNY STOCKS TO BUY NOW

There are dozens of different equities available on the stock market. According to estimates, there are 3000 stocks listed on the New York Stock Exchange and around 1000 stocks listed on the NASDAQ exchange (NYSE). Nevertheless, there is the mysterious world of penny stocks below this world of household brands like Apple Inc. (NASDAQ: AAPL). These firms are typically traded on counter markets rather than regulated exchanges, according to the Securities and Exchange Commission (SEC), which defines them as having shares that trade for less than $5. In fact, the New York Times reports that there are over 10,000 tiny businesses whose shares are sometimes traded in pennies rather than dollars. We’ll look at the top 15 best penny stocks to buy now in this article.

Best Penny Stocks to Buy

Little, publicly traded enterprises that are listed on stock exchanges as penny stocks often have a price below INR 10. Since they are not regularly traded equities, abrupt spikes in market volatility typically determine the potential profits for investors. Due to their lack of liquidity, penny stocks may be a dangerous investment. For instance, if you purchase a penny stock at a very low price, you might have trouble selling it. Some penny stocks fade over time and may even be delisted, which would mean losses.

#1. Suzlon’s Energy

Suzlon Energy’s debt load may frighten individuals trying to avoid any danger. But, Suzlon Energy can seem like a good investment for 2023 when viewed from the perspective of a penny stock. In September 2022, the company reported a combined quarterly profit after taxes of INR 56.47 vs. INR 13.34 loss (YoY). Suzlon Energy’s stock has the possibility to be profitable for investors given its leadership’s commitment to reducing the company’s debt and the Indian government’s efforts to combat climate change by embracing more renewable energy sources.

#2. I-80 Gold

After peaking near the end of 2022, shares of junior miner I-80 Gold (NYSEAMERICAN: IAUX) have been declining recently. Although this recent change can be explained by the decline in spot gold prices over this period, it’s probable that the market overreacted to this particular gold mining stock.

Why? Strong potential for long-term growth exists for this gold miner. According to a recent commenter on Seeking Alpha, I-80’s most recent mining finds could allow it to expand its yearly gold production to 250,000 or possibly 400,000 ounces within a few years.

#3. Jerash

Jerash (NASDAQ: JRSH) is one of the greatest penny stocks that has surged since the beginning of 2023. The garment manufacturer’s stock has increased by almost 20.5% year to date, and it is almost no longer considered a penny stock. With JRSH stock, the chance to “buy low, sell high” still exists. This company works in a cyclical sector, and the decline in the garment market is projected to continue in 2023.

#4. Lufax Holding Limited

A Chinese financial services platform called Lufax Holding Ltd (NYSE: LU) offers a variety of services and products, including loans and wealth management. The company is headquartered in Shanghai, China. Shares of Lufax Holding Ltd (NYSE: LU) have seen strong gains this year; the stock is currently up 6% year to date. 14 of the 920 hedge funds surveyed by Insider Monkey by the end of Q3 2022 had invested in the company.

The largest shareholder in Lufax Holding Ltd. (NYSE: LU) is Thomas Steyer’s Farallon Capital, which has 38 million shares worth $74 million.

#5. Sachem Capital (SACH)

The primary goal when it comes to penny stocks is often share price growth. But, solely from its double-digit dividend yield (13.6%), Sachem Capital (NYSEAMERICAN: SACH), may be able to produce market-beating gains. It’s true that investing successfully in high-dividend equities is far more difficult than it appears. You can’t just buy a bunch of the names with the highest yields and cross your fingers. Yet, if you examine the specifics of this mortgage REIT, you’ll see that Sachem’s present payout rate seems to be sustainable.

#6. SGHC Limited

Super Group, also known as SGHC Limited (NYSE: SGHC), operates an online gambling business. Operating sportsbooks all over the world under the Betway brand and online casinos under the Spin name, SGHC is a British Crown Dependent based in Guernsey. The business has profited in recent years as sports betting has become legalized nationwide in the US.

#7. VASO

Although most of the penny stocks listed above are “under the radar,” if not all of them, this is particularly true of Vaso (OTCMKTS: VASO). This OTC-listed nanocap is not exactly well-known. Few people also probably know what Vaso’s core business is. Although this supplier of medical supplies and IT services may not be well-known, informed investors have made enormous returns by purchasing and holding VASO shares during the previous year.

Best Penny Stocks to Buy Now

Investors should keep in mind that while investing in penny companies, they must be careful in their research and diversify their entire portfolio to protect themselves from any hazards associated with the higher return prospects of penny stocks.

#1. ECN Capital Corp

ECN Capital Corp. is a Canadian financial institution that offers services to pension funds, banks, and other relevant clients. Adjusted net income applicable to common stockholders for the most recent reported quarter, ending September 30, more than tripled to $11.8 million, according to ECN.

#2. SNDL

SNDL is a Canadian company that distributes alcoholic beverages in addition to growing, processing, and selling cannabis through its own retail locations. The Valens Co., a cannabis biotech company, was acquired by SNDL on January 17 for a total of about $138 million.

Due to net losses in the most recent quarter, SNDL does not have an EPS growth number.

#3. Rocket Lab USA, Inc.

Rocket Lab USA, Inc.: Rocket Lab manufactures satellites, offers space launch services, and supplies spacecraft parts. Due to negative EPS in the most recent quarter, the company does not have an EPS growth number.

#4. IonQ Inc.

IonQ is a software firm with the goal of creating quantum computers that can perform more complex calculations for longer periods of time with fewer errors for use in business and industry. In the most recent quarter, IonQ also reported net losses.

#5. Galaxy Digital Holdings Ltd

As a provider of financial services, Galaxy Digital also operates in the blockchain and cryptocurrency sectors. GK8, a platform for institutional digital asset custody, was purchased by the corporation for $44 million in late February.

Best Penny Stocks to Buy on Robinhood

Only penny stocks that trade on the NASDAQ or NYSE are supported by Robinhood. OTC stock trading is not supported by Robinhood. Investors can purchase penny stocks on Robinhood, but the selection is solely comprised of off-exchange stocks that trade as American Depository Receipts over the counter and stocks that are listed on U.S. exchanges alongside behemoths like Coca-Cola and Amazon. It’s vital to note that Robinhood investors can purchase some, but only a small portion, of the more than 10,000 teeny, tiny companies that trade as penny stocks. You’ll learn more about exchange-listed stocks, OTC, and ADRs further on the page.

#1. Ascati Pharma (ACST)

The stock price of Canadian late-stage biopharmaceutical business Acasti Pharma is $0.70 at the moment. It is a well-known penny stock because it cures three undertreated “orphan diseases” and shows great potential.

#2. Sidus Space Inc.

Because of the announcement of a fresh fundraising round earlier this quarter, SIDU shares declined. The market is anticipating the company’s next move now that the dust has calmed and it has new funds on hand. The money will reportedly be used for product development, operational expenses, sales and marketing, and factory expansion. Prior to receiving a $2.5 million project for The Netherlands Organization for Applied Scientific Research, Sidus received the money.

#3. AMC Entertainment Holdings Inc. (NYSE: AMC)

After everything was said and done, AMC increased by 2,900% in 2021. Particularly when they have a catalyst like the most recent news of a reverse split. When a firm wants to raise the price of its stock, they perform a reverse split. By repurchasing shares, the corporation lowers the overall supply on the market and consolidates the shares.

Reverse splits are not always a spark. Yet anything might happen with a stock like AMC.

#4. Ambrx Biopharma Inc. (NYSE: AMAM)

The biotech industry has been hot and cold for a number of years now. There is no doubt that AMAM is the industry leader. On December 9, 2022, the price surged by 1,000%. It then stabilized for more than two months before surging over those highs. It recently reversed a three-week advance. Stocks cannot continue to rise without a decline.

#5. Delta Air Lines Stocks

A pint purchase point for DAL stock is currently around 40.44. The 50-day line has been broken, and shares are now back above the 21-day line. The longer-term 200-day moving average has lately surpassed the shorter-term 50-day moving average, which is still holding above it. The “golden cross” is a constructive technical move that is used in this instance. But going forward, investors will want to see some development.

#6. JP Morgan Chase Stocks

After previously passing a flat base buy target of 138.76, JPM stock is now in a buy zone. The stock hasn’t broken out like this in over a year. Up to 145.69 is where the buy zone is right now. A hopeful indicator is that the relative strength line is still close to highs. The most recent pattern has a higher entrance point of 173.06 and is contained within a larger cup base. Its very impressive IBD Composite Rating of 95 reflects its exceptional overall performance. Both stock market performance and earnings are strong.

Can Penny Stocks Be Profitable?

With penny stocks, it is possible to gain financial gain. On the other hand, you can theoretically profit from any stock. Successful investors typically concentrate on the potential for their chosen penny stocks to buy in order to increase in value over the long term, independent of price. There are many justifications for investing in small businesses.

What Is the Most Successful Penny Stock?

Make sure you’re searching for the most profitable penny stocks ever if you want to find them. Learning about these stocks has worth.

GameStop (NYSE: GME)
Sundial Growers Inc. (NASDAQ: SNDL)
Castor Maritime Inc. (NASDAQ: CTRM)
The AMC Entertainment Holdings Inc. ( NYSE: AMC)

How Do I Find a List of Penny Stocks?

The first step is to find a website that lists penny stocks. The Investment Ideas page on Wall Street Survivor, which features a list of several penny stocks, is a fantastic place to start. Use MSN’s Stock Screener as an additional tool to filter equities based on desired factors like share price.

Top Websites and Forums for Penny Stocks

Penny Stock Dream.
Stockwrestler’s Public Portfolio: A Penny Stock Investment Blog.
Penny Stocks Today.
PennyStocks.com.
Small Cap Discoveries.
Small Cap Strategist.
PennyStocks.News.
Micro Cap Daily

What Is the Fastest Growing Penny Stock?

Disney DIS
Tyler Technologies TYL
Guidewire Software GWRE
Intuit INTU
Microsoft MSFT
ASML Holding ASML
AstraZeneca AZN
Autodesk ADSK
S&P Global SPGI
Visa V

What Are the Hottest Penny Stocks?

Comcast CMCSA.
Taiwan Semiconductor Manufacturing TSM.
Roche Holding RHHBY.
Walt Disney DIS.
Equifax EFX.
TransUnion TRU.
International Flavors & Fragrances IFF.
Anheuser-Busch InBev BUD.

Final Words

Any person considering investing in penny stocks should do their research thoroughly on the company they are considering and pay particular attention to details pertaining to the firm’s growth prospects. Novices shouldn’t invest in penny stocks since they could not fully comprehend the hazards involved until they have the full knowledge. Experienced traders who have a firm grasp on market speculation and make investments after careful consideration and research are best suited to trade penny stocks.

15 BEST PENNY STOCK TO BUY Now 2023 (Detailed Guide)

Table of Contents Hide