Best US Penny Stocks

Best US Penny Stocks to Buy in 2023
Best US Penny Stocks to Buy in 2023

by Tanushree Jaiswal Last Updated: Sep 07, 2023 - 05:09 pm 1.5k Views

US penny stocks could be your ticket to success if you're a risk-taker looking for significant potential returns in the stock market. Investors get a chance to invest in likely businesses at an affordable price with these shares of tiny enterprises. Even though they are inexpensive, penny stocks have high volatility and can produce substantial gains quickly. We'll go into the world of US penny stocks to buy in this article, revealing the fundamentals of investing in them, underlining the hazards involved, and offering advice to help readers make wise choices. Get ready to explore the thrilling and unpredictable world of penny stocks and uncover your financial development potential.

What are US Penny Stocks?

US Penny Stocks are cheap stocks traded on stock exchanges, typically valued at less than $5 a share. These small-cap stocks are held by corporations with comparably low market capitalizations, frequently start-ups or struggling enterprises. Because of their low cost, penny stocks may appeal to investors looking for high-risk, high-reward prospects. However, they carry some inherent dangers, including poor liquidity and manipulation vulnerability. Because US penny stock prices can change drastically and quickly, investing in them requires rigorous study. Despite the possibility of substantial earnings, it's crucial to enter this market for investments cautiously and with a solid grasp.

List of Top 10 Best US Penny Stocks to Invest

Here is a list showing the 10 best US penny stocks:

1. Sundial Growers Inc. (SNDL)
2. Castor Maritime Inc. (CTRM)
3. Zomedica Corp. (ZOM)
4. Nokia Corporation (NOK)
5. Inovio Pharmaceuticals Inc. (INO)
6. AMC Entertainment Holdings Inc. (AMC)
7. Plug Power Inc. (PLUG)
8. Express Inc. (EXPR)
9. Naked Brand Group Ltd. (NAKD)
10. Canopy Growth Corporation (CGC)

Overview of Best US Penny Stocks to Invest

Here is an overview of the best penny stocks to buy 2023:

1. Sundial Growers Inc. (SNDL)

The manufacture, cultivation, and distribution of cannabis products are the areas of expertise for Sundial Growers Inc. (SNDL), a Canadian cannabis business. The business has its headquarters in Calgary, Alberta, and serves both the medical and recreational cannabis industries. To appeal to various customers, SNDL has concentrated on enhancing its product lineup, which now includes dried cannabis, cannabis extracts, and foods flavored with cannabis.

2. Castor Maritime Inc. (CTRM)

With its headquarters in Limassol, Cyprus, Castor Maritime Inc. (CTRM) is a shipping business specializing in moving dry bulk goods by sea. Dry bulk carriers, vessels built to transport bulk commodities like coal, iron ore, grain, and other dry items, are owned and operated by the corporation. The core of CTRM's business strategy is the chartering of its vessels to a wide range of clients, including governments, industrial firms, and traders of commodities.

3. Zomedica Corp. (ZOM)

The Michigan-based veterinary health company Zomedica Corp. (ZOM) is committed to developing cutting-edge diagnostic and therapeutic options for companion animals. Their products for developing veterinary care include medications, biotech products, and diagnostic tools. Since it is a penny stock in US Market, ZOM's performance could be impacted by market volatility and business trends.

4. Nokia Corporation (NOK)

The international technology and communications corporation, Nokia Corporation (NOK), is based in Finland. It was established in 1865, has a long history in the telecommunications sector, and has played a significant role in the global development of mobile networks. Nokia is renowned for its advancements in 5G technology, network infrastructure, and patent licensing. Consumer gadgets like smartphones and other connected devices have been added to its product line over time.

5. Inovio Pharmaceuticals Inc. (INO)

Pennsylvania, USA-based Inovio Pharmaceuticals Inc. (INO) is a biotechnology business. Its main goal is to discover, create, and commercialize DNA-based immunotherapies and vaccines that can be used to prevent and treat malignancies and infectious diseases. The SynCon® technology, a platform owned by INO, is renowned for facilitating the quick creation of new vaccines.

6. AMC Entertainment Holdings Inc. (AMC)

AMC Entertainment Holdings Inc. (AMC) is a chain of cinemas in the United States with its corporate office in Leawood, Kansas. It operates several movie theaters domestically and abroad, making it one of the most prominent theater exhibitors in the world. Like the Penny stocks in US Market, AMC's share price is susceptible to extreme swings in value, frequently influenced by things like box office results, streaming competitors, and general trends in the entertainment sector. 

7. Plug Power Inc. (PLUG)

A US-based sustainable energy firm called Plug Power Inc. (PLUG) specializes in offering hydrogen fuel cell solutions for diverse industries. Electric automobiles and other equipment are powered by hydrogen fuel cell devices that the company designs and produces. PLUG aims to advance green energy options and lower greenhouse gas emissions. As a US penny stock to buy, PLUG's share price may be impacted by collaborations, technological developments, and public opinion of the renewable energy industry. 

8. Express Inc. (EXPR)

The corporate headquarters of American fashion retailer Express Inc. (EXPR) is in Columbus, Ohio. The business provides apparel, accessories, and footwear for men and women through a chain of specialty retail stores and an online store. As a US penny stock, EXPR's share price is susceptible to swings driven by prevailing economic conditions, consumer trends, and competitive pressures.

9. Naked Brand Group Ltd. (NAKD)

A global intimate garments and swimwear manufacturer, Naked Brand Group Ltd. (NAKD) is headquartered in New Zealand. The business creates, produces, and markets lingerie, pants, loungewear, and swimwear for men and women via various retail outlets and online shopping portals. As a US penny stock, NAKD's share price can fluctuate greatly, frequently affected by things like sales results, vogue trends, and market perceptions of the retail and garment industries.

10. Canopy Growth Corporation (CGC)

One of the most significant cannabis companies in the world is Canopy Growth Corporation (CGC), which is based in Canada. It is a well-known manufacturer and seller of cannabis goods for both recreational and medical use. With a wide range of goods available, including dried cannabis, oils, edibles, and beverages, CGC manages a diverse portfolio of brands. 

Performance List of Top 10 Best US Penny Stocks to Invest Now

Stock Name Market Cap Day's Range 52 Week Range Average Volume EPS (TTM)
Sundial Growers Inc. 399.494M 1.5000 - 1.5500 1.2500 - 3.5900 2,939,183 -1.0300
Castor Maritime Inc. 43.521M 0.4561 - 0.4640 0.3850 - 1.8000 486,669 1.0000
Zomedica Corp. 204.516M 0.2050 - 0.2100 0.1500 - 0.4100 4,103,137 -0.0200
Nokia Corporation 21.824B 3.8672 - 3.9400 3.8300 - 5.2800 16,386,840 0.8100
Inovio Pharmaceuticals Inc. 126.115M 4.8200 - 5.0400 0.3800 - 2.8200 9,083,959 -1.0100
AMC Entertainment Holdings Inc. 4.308B 4.8200 - 5.0400 3.7700 - 27.5000 23,442,417 -0.6700
Plug Power Inc. 7.124B 11.58 - 11.96 7.39 - 31.56 26,221,408 -1.27
Express Inc. 65.269M 0.8307 - 0.8750 0.5500 - 2.7000 1,191,317 3.3900
Naked Brand Group Ltd. N/A 0.3370 - 0.3515 0.3370 - 0.3515 N/A N/A
Canopy Growth Corporation 339.732M 0.4550 - 0.4700 0.3460 - 4.7700 25,424,620 -5.4000

Who Should Invest in US Penny Stocks?

The ideal investors for investing in US penny stocks are seasoned and risk-tolerant individuals looking for big potential profits. Because of their low pricing and market capitalizations, penny stocks can be highly volatile and vulnerable to sharp price swings. Penny stocks may be intriguing to people with a robust understanding of the stock market, are prepared to do significant research, and can take on more risk. However, since many penny stocks are speculative and can result in substantial losses, it is imperative to proceed cautiously. To avoid potential problems related to penny stocks, novice investors and those with a poor tolerance for risk should concentrate on more reliable and well-established assets.

Benefits of Investing in US Penny Stocks

Investing in US penny stocks has several advantages, such as:

  • Low Entry Cost: Because penny stocks are reasonably priced, even those with a tight budget can invest in the stock market and make a diverse portfolio.
  • High Growth Potential: Some penny stocks have the potential to appreciate quickly, offering the chance for significant returns on investment.
  • Early-stage Opportunities: Many penny stocks are issued by start-ups and tiny businesses with novel business concepts, allowing investors to profit from possible future success.
  • Diversification: Penny stock inclusion in a more significant investment strategy can increase portfolio diversification and lower risk.
  • Exposure to Specialist Sectors: Penny stocks frequently operate in new and specialist industries, giving investors access to unique market prospects.
  • Opportunities for Short-Term Trading: Due to the significant price volatility of penny stocks, there may be chances for short-term traders to profit from price changes.
  • Options for Learning: Investing in penny stocks can offer inexperienced investors beneficial learning opportunities to comprehend the stock market and home trading abilities.

Things to Consider Before Investing in Best Us Penny Stocks

  • Think about the following essential factors before investing in the top US penny stocks to buy:
  • Assess your risk tolerance and be ready for possible losses because penny stocks are often erratic.
  • Conduct in-depth research on the company's financial situation, market conditions, and outlook for the sector.
  • To be sure you can purchase and sell shares effectively, look at the stock's trading volume.
  • In the penny stock market, look for possible frauds and pump-and-dump schemes.
  • Avoid investing all of your money in penny stocks by diversifying it among several asset types.
  • Clearly define your exit strategy and decide when to sell to lock in earnings or reduce losses.
  • Consider speaking with a certified financial advisor to make educated investment selections.

How to Invest in the Best US Penny Stocks?

It's necessary to take a systematic approach while investing in the top US penny stocks:

Step 1: Learn about penny stocks and become familiar with their perks and pitfalls. To establish how much you can invest, evaluate your risk tolerance.
Step 2: Pick a trustworthy brokerage site that facilitates dealing in penny stocks. Do extensive research on possible stocks, considering the financials and market trends.
Step 3: Start with a modest investment to gain knowledge and reduce risk. To lower the risk associated with specific stocks, diversify your portfolio.
Step 4: Reduce potential losses by using stop-loss orders. Keep up with business and market developments. Maintain your investment strategy and abstain from rash choices.


Finally, due to their inherent volatility and speculative nature, investing in the best US penny stocks necessitates a cautious and informed approach. While penny stocks can have excellent growth prospects, they also carry higher risks, including potential financial loss. The likelihood of making informed investing decisions can be increased by seeking the assistance of financial specialists who can offer insightful information. A careful and balanced strategy is necessary to profit from the distinctive prospects provided by penny stocks while minimizing their inherent uncertainties.


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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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