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This month's top penny stocks include Myomo Inc., Expion360 Inc., and Akebia Therapeutics Inc., all of which have more than tripled in value during the past year. Here are the top three penny stocks with the best value, the fastest growth, and the most momentum. All data is as of Nov. 24, 2023.
- NOK3.790.38% Nokia Oyj.
- OPEN3.400.17% Opendoor Technologies Inc.
- BB3.060.13% BlackBerry Limited.
- LUMN1.620.27% Lumen Technologies, Inc.
- LVTX2.080.53% LAVA Therapeutics N.V.
- ILUS0.020.00% Ilustrato Pictures International Inc.
- CRGE0.170.02% Charge Enterprises, Inc.
- MIMO0.220.03%
This month's top penny stocks include Myomo Inc., Expion360 Inc., and Akebia Therapeutics Inc., all of which have more than tripled in value during the past year. Here are the top three penny stocks with the best value, the fastest growth, and the most momentum. All data is as of Nov. 24, 2023.
- Nike (NKE)
- NVIDIA (NVDA) ...
- Monster Beverage Corporation (MNST) ...
- Tractor Supply Company (TSCO) All-Time Return: +54,978% ...
- Axon (AXON) All-Time Return: +48,911% ...
- ASML (ASML) All-Time Return: +30,001% ...
- Netflix (NFLX) All-Time Return: +27,719% ...
- Tesla (TSLA) All-Time Return: +11,641% ...
| Company Name | LTP | % Change |
|---|---|---|
| Kanani Industries | 10.05 | 4.69 |
| Dynamic Cables Ltd | 421 | 0.12 |
| Hilton Metal Forging | 130.9 | 0.04 |
| Alok Industries | 32.45 | -1.67 |
"Red hot penny stocks" - perhaps the most common example - is used by tipsters to indicate they have identified cheap stocks which they believe will very shortly increase dramatically in value.
| Company | CMP (Rs) | Sales CAGR (3 yrs, %) |
|---|---|---|
| MEDIAONE GLOBAL | 40.4 | 466.4% |
| EMPOWER INDUSTRIES | 2.2 | 458.4% |
| ELLORA TRADING | 16.3 | 446.4% |
| BCC FINANCE | 39.2 | 434.0% |
- Alok Industries Ltd. (2.22) ...
- Inventure Growth Ltd. (0.20) ...
- Ajooni Biotech (4.85) A high-flying biotech stock with exciting research, but buckle up for volatility! ...
- Nyssa Corporation Ltd. (0.30) ...
- Advik Capital Services Ltd. (0.51) ...
- CES CESC Ltd. ...
- Genpharmasec (4.89) ...
- Sulabh Engineers Ltd.
| SNo. | Top Dividend Paying Penny Stocks | Industry |
|---|---|---|
| 3. | Comfort Intech Ltd | Alcoholic Beverages |
| 4. | Vivanta Industries Ltd | Miscellaneous |
| 5. | Family Care Hospitals Ltd | Healthcare |
| 6. | Veeram Securities Ltd | Trading |
Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla, known collectively as the 'Magnificent 7,' dominated the S&P 500 and soared well over 100% in 2023. Nvidia (NVDA) gained 246%, Meta (META) gained 184% and Tesla (TSLA) soared 130%. Each of those stocks slumped by more than 50% in 2022.
Has anyone made money on penny stocks?
It is possible to make money with penny stocks. Then again, it's technically possible to make money with any type of stock. Successful investors usually focus on the potential for their stock picks, regardless of price, to gain value over the long term. There are plenty of good reasons to invest in small companies.
Mulally had previously led Boeing through its struggles after the 9/11 attacks and the early 2000s recession. By 2008, Ford was turned into a penny stock after the financial crisis and the bankruptcy of General Motors (GM ).
Quick profits: Very few traders own penny stocks because they believe in the company's long-term mission. Instead, it's a fast and cheap way to pile up profits, especially if you can locate pennies worth money. A well-timed penny stock trade can reap triple-digit gains in a very short time frame.
Shares of Tata Motors surged 4 percent to Rs 783 in afternoon trade, becoming the first Nifty company to see its share price double in 2023, closing out the last trading session on a high.
| Sl No. | Stock Name | Market Cap (₹ Cr) |
|---|---|---|
| 1 | Yes Bank Ltd | 46,584.19 |
| 2 | Indian Overseas Bank | 46,405.42 |
| 3 | Vodafone Idea Ltd | 37,726.76 |
| 4 | Suzlon Energy Ltd | 15,422.32 |
- Broadcom (AVGO).
- JPMorgan Chase (JPM).
- UnitedHealth (UNH).
- Comcast (CMCSA).
- Bristol-Myers Squibb Co. (BMY).
Some professionals recommend that you devote no more than 10% of your individual stock holdings to penny stocks. It's also important to understand your risk tolerance. Generally speaking, the higher your risk tolerance, the more equipped you are to take on the risk that can come with investing in penny stocks.
The share price does not always speak to the quality of the company, so investors need to consider the number of shares available, share liquidity, and the risk of dilution if there are too many shares outstanding.
Blue chip stocks tend to pay dividends more frequently than penny stocks. This is because blue chip stocks are issued by companies that are typically more profitable than their penny stock counterparts. Penny stocks, on the other hand, rarely (if at all) pay dividends.
- Suzlon Energy: This share has been in uptrend since mid of May 2023. ...
- Reliance Power: This Anil Ambani-backed penny stock has been in uptrend after ushering in current financial year 2023-24. ...
- Vodafone Idea: This penny stock is currently available at ₹13.55 apiece levels.
What are top 10 stocks to buy?
- Reliance Industries Limited (RIL)
- HDFC Bank Limited.
- Infosys Limited.
- Titan Company Limited.
- Larsen and Toubro Limited.
- Asian Paints Limited.
- TCS (Tata Consultancy Services) Limited.
- Bajaj Finance Limited.
Identify companies with strong fundamentals
To identify promising companies, look for those with strong fundamentals, like increasing revenue, growing profits and positive cash flow. Those indicators suggest that they are doing well financially, and these companies tend to be more likely to break out.
| Stock Name | Market Cap | Closing Price |
|---|---|---|
| Reliance Home Finance Ltd | 94.59 | 1.95 |
| Taparia Tools Ltd | 4.04 | 2.79 |
| Hindusthan Udyog Ltd | 2.27 | 3.16 |
| Skil Infrastructure Ltd | 110.81 | 5.55 |
For seasoned investors, multibagger penny stocks offer a high-reward scenario but come with significant risk. So, to identify a potential multi-bagger, they analyze market trends, understand the company's business model, and evaluate its financial stability.
For many beginner investors, the first logical stop is penny stocks. As the name suggests, penny stocks are those companies that trade with a low share price, often less than $1.
