Best US Penny Stocks to Buy in India 2024

Best US Penny Stocks to Buy in India 2024
Best US Penny Stocks to Buy in India 2024

by Tanushree Jaiswal Last Updated: Feb 29, 2024 - 04:32 pm 1.2k Views
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Intelligent investors constantly seek intriguing investment possibilities in the ever-changing stock market landscape. As we negotiate the financial terrain of 2024, this essay will walk readers through the subtleties of top US penny stocks. Generally distinguished by their low share prices and potential for considerable volatility, Penny stocks provide a unique opportunity for investors looking for high-risk, high-reward investments. We'll delve into the complexities of the market to find the best US penny stocks to buy now, evaluating their growth prospects, financial health, and industry trends. This article sheds light on these possible jewels, providing vital information for anyone wanting to capitalise on developing chances in the ever-changing world of penny stock investing.

What are US Penny Stocks?

US penny stocks are shares of small-cap firms that trade on stock exchanges for a cheap price, often less than $5 per share. These stocks are frequently distinguished by their market size and low entry price, making them appealing to investors looking for high-risk, high-reward options. While penny stocks can be very volatile, they also have the potential for huge gains. Due to their lower share prices, these firms are usually in the early development phases or have financial issues, requiring rigorous examination and due diligence before investment. Investors must negotiate the dangers of restricted liquidity, manipulation, and the speculative character of these assets. Despite the inherent risks, some traders actively participate in the best penny stocks in US markets, hoping to profit from quick price changes and uncover hidden gems among tiny firms with development potential.

List of Top 10 US Penny Stocks 2024

Here is the list of US penny stocks in use:

    • VAALCO Energy (EGY)
    • WiSA Technologies (WISA)
    • iQIYI Inc. (IQ)
    • Meta Materials Inc. (MMAT)
    • Ardelyx (ARDX)
    • Iovance Biotherapeutics (IOVA)
    • Savara (SVRA)
    • Jaguar Health, Inc. (JAGX)
    • Inpixon (INPX)
    • Aravive Inc. (ARAV)

Overview of US Penny Stocks

Here is the overview of the list of US Penny stocks:

VAALCO Energy (EGY)
VAALCO Energy trades under the ticker symbol EGY and is an independent energy firm specialising in oil exploration, development, and production. VAALCO Energy, which operates in West Africa, most notably offshore Gabon, has an oil and gas development history. Investors closely follow EGY's engagement in the energy industry and possible advances in its exploration and production activities.

WiSA Technologies (WISA)
WiSA Technologies (WISA), a pioneer in wireless audio solutions, is dedicated to establishing and supporting standards for high-quality, interference-free audio experiences. The company's expertise in wireless speaker technology contributes significantly to the advancement of audio communication. As a member of the wireless audio industry, WiSA strives to create new solutions that improve user experiences and contribute to the advancement of audio technology standards. Investors and fans may follow WISA for information on its contributions to the wireless audio market and its role in defining the future of audio connection.

iQIYI Inc. (IQ)
iQIYI Inc. (IQ) is a Chinese online entertainment platform recognised for its streaming services, which include a diverse selection of video material such as movies, TV dramas, and variety programmes. Often referred to as the "Netflix of China," iQIYI has risen to prominence in the competitive streaming industry. Investors and audiences watch IQ for its success and contributions to the changing digital entertainment scene.

Meta Materials Inc. (MMAT)
Meta Materials Inc. (MMAT) is a Canadian firm specialising in innovative materials and nanotechnology. MMAT, known for its inventive solutions, focuses on producing metamaterials with unique electromagnetic characteristics, offering up possibilities for applications in various industries, including telecommunications and aerospace. Investors intrigued by cutting-edge technologies and material sciences frequently monitor MMAT for its contributions to the changing landscape of advanced materials and their commercial applications.

Ardelyx (ARDX)
Ardelyx (ARDX) is a biopharmaceutical firm that discovers novel medicines for cardiorenal and gastrointestinal illnesses. Ardelyx, which focuses on research and development, seeks to solve unmet medical needs with its patented drug discovery platform. Investors interested in pharmaceutical breakthroughs follow ARDX for updates on its pipeline, clinical studies, and potential contributions to enhancing healthcare outcomes in cardiorenal and intestinal diseases.

Iovance Biotherapeutics (IOVA)
Iovance Biotherapeutics (IOVA) is a biopharmaceutical firm focused on developing novel cancer immunotherapies. IOVA, which focuses on tumour-infiltrating lymphocyte (TIL) technology, seeks to employ the immune system to target and eliminate cancer cells. Investors and researchers interested in immuno-oncology frequently follow IOVA for information on clinical studies and potential advances in cancer therapy.

Savara (SVRA)
Savara Inc. (SVRA) is a pharmaceutical business that focuses on discovering innovative treatments for uncommon respiratory disorders. Savara addresses unmet medical needs using inhalation therapeutics and precision medicine methods. Investors and healthcare professionals interested in respiratory medicine follow SVRA for updates on its pipeline, clinical studies, and possible contributions to treating uncommon respiratory disorders.

Jaguar Health, Inc. (JAGX)
Jaguar Health, Inc. (JAGX) is a pharmaceutical firm focused on developing gastrointestinal prescription medications. JAGX's focus on natural sources, notably plant-based techniques, strives to give novel answers to digestive health concerns. Investors and healthcare aficionados frequently monitor JAGX for updates on its pipeline, research projects, and possible contributions to gastrointestinal medicine through alternative and natural treatments.

Inpixon (INPX)
Inpixon (INPX) is a technology startup focused on indoor location and data analytics solutions. INPX intends to give location-aware insights for numerous sectors by leveraging cutting-edge technology such as sensors and artificial intelligence (AI). Investors interested in the convergence of technology and spatial data frequently follow INPX for updates on its breakthroughs and applications for improving indoor positioning, analytics, and the larger domain of intelligent environments.

Aravive Inc. (ARAV)
Aravive Inc. (ARAV) is a clinical-stage biopharmaceutical firm dedicated to finding treatments for life-threatening disorders. ARAV is focused on researching and developing novel therapies, particularly emphasising meeting unmet medical needs in cancer. Investors and healthcare experts monitor ARAV's pipeline, clinical trials, and possible contributions to the advancement of medicines for serious medical problems.

Performance List of US Penny Stocks

The table below shows the US Penny stocks to buy with their components:

Company Market Cap (Rs. cr) P/E Ratio TTM EPS P/B Value Book Value Per Share ROE (%) R0A(%) D/E Ratio Average Volume Beta (5Y Monthly)
VAALCO Energy (EGY) 44.5874 
crore
13.68 0.3100 1.00 4.20 11.05% 10.18% 20.09% 782,385 1.32
WiSA Technologies (WISA) 0.2468 
crore
N/A -1.3000 2.79 0.13 -508.19% -161.71% 142.82% 4,840,749 0.17
iQIYI Inc. (IQ) 35.02 crore 28.15 0.1300 2.22 11.74 21.22% 4.41% 135.68% 8,532,706 0.41
Meta Materials Inc. (MMAT) 4.2972 crore N/A -0.7900 0.46 0.19 -139.49% -14.01% 12.99% 15,112,480 1.57
Ardelyx (ARDX) 192.2 crore N/A -0.06 10.05 0.82 -20.59% -4.88% 18.01% 6,306,801 0.93
Iovance Biotherapeutics (IOVA) 199.1 crore N/A -2.08 2.95 2.63 -81.10% -39.90% 11.79% 7,736,570 0.38
Savara (SVRA) 59.6854 crore N/A -0.3100 4.07 1.08 -37.18% -19.88% 18.22% 784,531 0.73
Jaguar Health, Inc. (JAGX) 0.5142 crore N/A -0.8700 3.75 0.05 -1,628.08% -42.70% 2,510.10% 5,691,534 1.43
Inpixon (INPX) 1.0084 crore N/A -14.7800 0.97 0.09 -87.77% -20.26% 146.55% 14,942,567 0.70
Aravive Inc. (ARAV) 0.384 crore N/A -0.7600 2.26 0.02 -475.98% -134.06% 142.68% 2,595,131 2.19

Factors to Check Before Investing in US Penny Stocks

Best US penny stocks to buy now can be profitable, but it also has hazards. Before plunging in, consider the following factors:

Volatility and Risk Tolerance: Penny stocks are notoriously volatile. Assess your risk tolerance and ensure it matches these stocks' inherent volatility.
Study and Due Diligence: Conduct extensive study on the company's finances, management team, and industry trends. Penny stocks may lack analyst coverage, so you must research.
Liquidity: Penny stocks may need more liquidity, making acquiring or selling shares difficult. Ensure that there is sufficient trading volume to allow for simple entrance and exit.
Financial health: Examine the company's balance sheet, sales, and earnings growth. Be mindful of high debt and persistent losses.
Company Fundamentals: Look for firms with a strong business strategy, a competitive edge, and room for expansion. Avoid businesses with unclear or too complicated operations.
Regulatory Compliance: Ensure that the firm follows regulatory requirements. Penny stocks may be more vulnerable to fraud, so ensure they comply with SEC requirements.
Industry Trends: Understand the broader industry trends and potential catalysts affecting the penny stock. A firm engaged in a rising industry is typically more promising.
Management Team: Evaluate the management team's experience and track record. Competent leadership is essential for handling the risks involved with penny stocks.
Analyst Ratings and News: While penny stocks may have little analyst attention, look for any accessible ratings or recent news that might impact the company.
Diversification: Avoid putting all your eggs in one basket. Diversify your assets among many stocks to spread risk.

Benefits of Investing in US Penny Stocks

Investing in US penny stocks might have advantages, but it's crucial to understand the dangers. Here are a few potential benefits of investing in penny stocks:

High Return Potential: Penny stocks have a likelihood for significant price changes, allowing investors to profit if the company gets momentum.
Low-entry Cost: Penny stocks offer a low-cost entry point for investors with minimal cash. It allows a larger spectrum of investors to enter the market.
Opportunity for Early Investing: Many penny stocks represent small businesses with development potential. Investing early in these firms may yield significant profits if they prosper and develop.
Volatility Trading chances: Penny stocks' natural volatility might provide trading chances for short-term rewards. Traders who can effectively foresee price swings may profit from frequent buying and selling.
Diversification: Including penny stocks in a portfolio with diversification can provide exposure to various sectors and businesses, thereby increasing total portfolio diversity.

While these advantages exist, it is critical to understand the significant dangers associated with penny stocks, such as poor liquidity, vulnerability to manipulation, and the possibility of sudden and severe price falls. Due diligence, thorough research, and risk management are vital for penny stock investing. Investors should approach the best US penny stocks carefully, realising that the potential for huge profits comes with a higher level of risk.

How to invest in US Penny Stocks?

Due to their inherent volatility, investing in US penny stocks necessitates a calculated and strategic strategy. Here's a step-by-step tutorial to assist you with the process:

Educate Yourself: Learn the fundamentals of the penny stock in US market, including the dangers and possibilities connected with penny stocks. Financial news, investing websites, and instructional materials are all potentially helpful resources.
Create a budget: Determine how much money you will invest in penny stocks. Due to its volatility, only invest money you can afford to lose.
Research about Companies: Conduct an extensive study on possible penny stock investments. Examine financial records, management teams, industry trends, and current news or changes.
Use Reliable Platforms: Select a reputed brokerage platform that supports trading in penny stocks. Ensure the platform includes real-time data, research tools, and an easy-to-use interface.
Diversify Your Portfolio: Avoid investing all your assets in a single penny stock. Diversification reduces risk by spreading your investment across many stocks.
Set realistic goals: Define your investing objectives and risk tolerances. Determine whether you want short-term returns or are willing to retain for the long term.
Stay informed: Market mood and news impact penny stock prices. Stay knowledgeable about market trends, economic indicators, and any happenings affecting your assets.
Use Limit Orders: Because of possible volatility, consider using limit orders to designate the price at which you wish to purchase or sell a stock, avoiding surprise price variations.
Position Monitoring: Conduct regular reviews and reassessments of your penny stock holdings. Be ready to sell holdings if your investing thesis changes or the stock achieves your target price.
Seek Professional Advice: Consult with a financial counsellor, especially if you are new to investing or are unsure about particular stocks. Their knowledge can give valuable insights and advice.

Remember that investing in penny stocks necessitates due investigation and a well-thought-out plan. It's vital to approach these investments with prudence and a realistic grasp of the inherent dangers.

Also read about: Best Pharma Penny Stocks to Buy in India 2024

Conclusion

In a nutshell, the best US penny stocks to buy now may be a high-risk, high-reward endeavour that demands thorough research, strategic planning, and a disciplined approach. While there is the possibility for significant returns, investors must proceed cautiously due to the inherent volatility. Diligence, diversity, and being informed are critical components of success in this market. Whether looking for short-term trading possibilities or long-term development potential, a well-informed and careful approach is essential in the volatile world of penny stock investing.

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About the Author

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

Disclaimer

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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