Discover the Top 10 Penny Stocks for 2023

What is a penny stock?

A publicly traded company’s stock that is traded at a cheap price, generally less than $5 per share, is known as the penny stock. Compared to stocks of larger, more established companies, these stocks are often issued by smaller, less established companies and represent a higher level of risk. Penny stocks are regarded as speculative investments since they are usually the target of manipulation and lack financial reporting and transparency. Furthermore, penny stocks are frequently not listed on major stock exchanges, but rather traded on over-the-counter (OTC) markets, where corporation regulatory requirements are less stringent. This can increase the risk of fraud or market manipulation. Moreover, the liquidity of penny stocks is frequently low, making it challenging to buy or sell shares quickly. Penny stocks are generally not recommended for long-term investments due to these factors, and are preferable for experienced and risk-tolerant investors.

List of 10 penny stocks

  1. Geron corporation : Geron Corporation, headquartered in Menlo Park, California, was founded in 1990. Aside from imetelstat, the company has been involved in the research and development of other therapeutic products in oncology and regenerative medicine. Geron has partnerships and collaborations with several biopharmaceutical organisations and institutions, including Janssen Biotech, a subsidiary of Johnson & Johnson. The stock symbol for the company is “GERN” on the NASDAQ. Geron Corporation is a biopharmaceutical company focused on developing and monetizing oncology and regenerative medicine therapies. Imetelstat, a telomerase inhibitor being developed as a treatment for hematologic malignancies, is the company’s main product. Geron has also worked on embryonic stem cell-based treatments for a variety of conditions, including spinal cord injury. Nobel laureates James Watson, Gunter Blobel, and Carol Greider have served on the company’s Scientific and Clinical Advisory Board, as has Leonard Hayflick, who discovered that human cells divide for a limited number of times in vitro (called the Hayflick limit). Geron employees earned the highest median pay in California in 2017, at $500,250. Current Price:$3.30 GERN (NASDAQ)USA.
  2. Cytomx Theraputics,Inc : CytomX Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to the development of novel cancer immunotherapies. It creates antibody-based therapeutics using a proprietary protein engineering platform to overcome the challenges posed by traditional antibody drugs. Multiple clinical-stage programmes in various types of cancer are in the company’s pipeline. CytomX Therapeutics is headquartered in South San Francisco, California, as of 2021. A seasoned management team that has extensive knowledge in the creation of biologic medicines, cancer biology, clinical and translational medicine, and business development leads CytomX. Current price:$2.7 CTMX (NASDAQ) USA
  3. Rent The Runway, Inc (RENT) : Rent the Runway is an e-commerce platform. Where users can rent, subscribe to, or purchase designer clothing and accessories. Jennifer Hyman and Jennifer Fleiss are founded the company in November 2009, and it is still in operation today. Investors like Fidelity, Franklin Templeton, TCV, Bain Capital Ventures, Highland Capital Partners, American Express, and T. Rowe Capital contributed more than $400 million in venture capital to the business. Rent the Runway had physical locations in New York City, Washington, D.C., Chicago, San Francisco, and Los Angeles where customers could work with a personal stylist and either take items with them or reserve dresses and accessories for future events. The company announced in August 2020 that it would close all five of its retail locations in order to focus on digital subscriptions and add more drop box locations. The company sells clothing in sizes ranging from 00 to 22 from over 700 designers. Aside from event clothing, the company also rents everyday clothing, children’s clothing, ski apparel, home décor, and accessories such as jewellery and handbags.   The company provides a variety of subscription plans at various prices that can be customised. According to the company, subscriptions account for 75% of its business as of 2019. According to the company, it has the largest dry cleaning operation in the United States, if not the world, with a capacity of 2,000 items per hour (as of 2018). Distribution warehouses are located in Secaucus, New Jersey, and Arlington, Texas. In 2013, 2014, 2015, 2018, and 2019, Rent the Runway was named to CNBC’s Disruptor 50 list. In 2011, 2015, 2018, and 2019, the company was named one of Fast Company’s Most Innovative Companies. Current Rate: $4.29 RENT ( NASDAQ) USA.
  4. Ardelyx, Inc (ARDX) : Ardelyx was formed in 2007 and is based in Fremont, California. Tenapanor, the company’s lead product candidate, is in phase 3 clinical development for the treatment of hyperphosphatemia in end-stage renal disease patients. Ardelyx is also continuing to work on RDX7675, a novel therapy for cardiometabolic diseases. Ardelyx has received accolades for its contributions to the pharmaceutical industry, including inclusion on Fast Company’s list of the world’s most innovative companies. The company takes priority innovation and is committed to developing new and better treatments for patients suffering from serious medical conditions. Ardelyx is a biopharmaceutical company enhance the development treatments for kidney, cardiovascular, and metabolic diseases. The mission of the company is to discover, develop, and bring to market novel therapies to improve the health of patients suffering from these diseases. Ardelyx has a number of product candidates in various stages of clinical development and cooperates with other pharmaceutical companies to advance its R&D efforts. Current Price:$2.93 ARDX ( NASDAQ) USA
  5. App Harvest, Inc (APPH) : AppHarvest is a sustainable food company located in Appalachia that is building a reliable, climate-resilient food system by developing and operating some of the world’s largest high-tech indoor farms utilising robotics and artificial intelligence. AppHarvest farms are designed to grow produce using sun’s rays, rainwater, and up to 90% less water than open-field growing, all while producing up to 30 times the yields of traditional agriculture and preventing pollution from agricultural runoff. AppHarvest currently operates a 60-acre tomato farm in Morehead, Kentucky, a 15-acre indoor salad greens farm in Berea, Kentucky, a 30-acre strawberry and cucumber farm in Somerset, Kentucky, and a 60-acre tomato farm in Richmond, Kentucky. The four-farm network covers 165 acres of glass. AppHarvest is a public benefit corporation and a Certified B Corp. Jonathan Webb started the company with the goal of using Kentucky’s centralized view to lessen carbon emissions by shipping produce to markets on the East and Midwest coasts. For hydroponically growing plants, AppHarvest’s greenhouses aim to primarily use sunlight rather than LEDs. After a merger with the special purpose acquisition firm Novus Capital Corp in 2020, the company went public. Current Price:$2.44 APPH (NASDAQ) USA
  6. Fuel Cell Energy, Inc (FCEL) : A publicly traded fuel cell business with its headquarters in Danbury, Connecticut is called FuelCell Energy, Inc. It creates, produces, runs, and maintains Direct Fuel Cell power facilities (a type of molten carbonate fuel cell). Early fuel cell pioneers Bernard Baker and Martin Klein, both chemical engineers with expertise in cutting-edge battery technology, formed the business as Energy Research Corporation (ERC) in 1969. In addition to being a substitute for conventional combustion-based power generation, the company’s fuel cell technology also works well with intermittent energy sources including solar and wind power.  Clean energy is provided by the corporation, one of the largest publicly traded fuel cell producers in the United States, in more than 50 locations across the globe.  Gyeonggi Green Energy Fuel cell Park, the largest fuel cell park in the world, is run by it and is situated in South Korea. Today, the company has fuel cell projects that use natural gas and renewable biogas. In addition to power and thermal properties, the company’s products can produce hydrogen. Moreover, the firm is capable of carbon capture using fuel cells, long-term energy storage, and solid-oxide electrolysis. FuelCell’s proprietary technology captures and focuses carbon dioxide from large industrial sources using carbonate fuel cells. The exhaust from the combustion engine is directed to the fuel cell, which produces electricity while capturing and concentrating carbon dioxide for long-term storage.Fuel cells convert energy such as natural gas or hydrogen into electricity by integrating it with air. Current Price:$3.66 FCEL (NASDAQ) USA
  7. Rocket Lab USA, Inc( RKLB) : In 2006, the company was established in New Zealand. Rocket Lab became the first private company in the Southern Hemisphere to reach space after the successful launch of Atea-1 in 2009. In 2013, the company established its headquarters in California and created the expendable Electron rocket. The rocket’s first launch occurred in May 2017. Rocket Lab became a public company in August 2021, when it was listed on the Nasdaq stock exchange as a result of a SPAC merger. After four years of development, the Electron booster attempted helicopter recovery in May 2022. The business established headquarters in Huntington Beach, California, and changed its registration from New Zealand to the United States sometime around 2013. The decision was made in part as a result of greater U.S. government participation in the business and corresponded with the company receiving finance from American sources. The American company acquired the New Zealand company as a subsidiary. Rocket Lab relocated its corporate headquarters to Long Beach, California, in 2020. Current Price: $4.97 RKLB( NASDAQ) USA.
  8. Lloyds Banking Group Plc( Lyg). : One of the earliest banks in the UK was Taylors and Lloyds, which was founded in Birmingham in 1765 by button maker John Taylor and iron manufacturer and trader Sampson Lloyd II. Lloyds became one of the Big Four UK banks through a series of mergers. A British financial organisation called Lloyds Banking Group was created in 2009 after Lloyds TSB purchased HBOS. With 30 million customers and 65,000 staff, it is one of the biggest financial services companies in the UK. Although Lloyds Bank was established in 1765, the broader Group’s history dates back more than 320 years to the Scottish Parliament’s establishment of the Bank of Scotland in 1695. A British financial organisation called Lloyds Banking Group was created in 2009 after Lloyds TSB purchased HBOS. With 30 million customers and 65,000 staff, it is one of the biggest financial services companies in the UK. Although Lloyds Bank was established in 1765, the broader Group’s history dates back more than 320 years to the Scottish Parliament’s establishment of the Bank of Scotland in 1695. While the Group’s registered office is on The Mound in Edinburgh, its headquarters are at 25 Gresham Street in the City of London. Additionally, it has offices in Glasgow, West Yorkshire, Birmingham, Bristol, and other locations. The Group also operates widely outside in the United States, Europe, the Middle East, and Asia. Current Price:$2.59 LYG ( NYSE) UK
  9. Hut 8 Mining Corp.(HUT) : Hut 8 is a publicly traded Canadian cryptocurrency mining company. The company was founded in 2017 and runs large-scale cryptocurrency mining operations in Canada and the United States. Hut 8 primarily mines Bitcoin and aims to give investors exposure to the cryptocurrency market. The company is one of the largest cryptocurrency mining companies in the world and is listed on the Toronto Stock Exchange (TSX: HUT). Hut 8 not only conducts mining operations but also offers a range of services related to the management and upkeep of its mining facilities. The organisation places a high priority on operational effectiveness and works to increase mining rig output while lowering costs. The management team of Hut 8 has years of experience in the banking and technology sectors. The business has created policies and procedures to ensure compliance with relevant laws and regulations and is dedicated to maintaining high standards of corporate governance. Current Price:$1.90 HUT (NASDAQ) Canada.
  10. Pitneybowes Inc (PBI) : American technology company Pitney Bowes Inc. is best known for its postage meter and other mailing tools and services, but it has since moved into e-commerce, software, and other areas of technology. On April 23, 1920, the Pitney Bowes Postage Meter Company was founded by Arthur Pitney and Walter Bowes. Pitney was the inventor of the first postage metre that could be bought commercially. As of 2021, the company served about 750,000 clients globally through mailing and shipping services, global e-commerce logistics, and financial services. Pitney Bowes helps the United States Postal Service with sorting and processing 15 billion pieces of mail each year as a recognised “work-share partner.” Furthermore, Pitney Bowes has paid for surveys on global e-commerce. Pitney Bowes has its headquarters in Stamford, Connecticut, and employed about 11,000 people worlwide as of October 2021. Current Price:$4.31 PBI ( NYSE) USA

      However, it is important to note that investing in penny stocks can be highly speculative and dangerous. Before investing, it is best to thoroughly research a company and consult with a financial advisor.

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