Top 10 Penny Stocks in the United States

Did you know that over 2,800 companies in the U.S. trade as penny stocks? These are stocks that trade for $5 or less. Some trade on big exchanges like NASDAQ or NYSE, while others trade over-the-counter (OTC).

Penny stocks are popular because they are cheap. That makes them easy to buy, even if we have a small budget. But there’s a catch,  they are also very risky. Prices can jump fast, but they can also crash overnight.

Still, many investors love the thrill of finding the next big winner. Some penny stocks have gone up over 500% in just months. That’s why we made this list of the 10 best penny stocks in the United States. We’ll show you who they are, why they’re hot, and what’s making them grow.

Top 10 Penny Stocks in the United States

1. Vinco Ventures (NASDAQ: BBIG)

• Company Overview:
  Vinco Ventures focuses on digital media and content creation platforms. They use AI tools to monetize short-form video content.

• Recent Performance:
  BBIG stock has jumped over 60% in the first quarter of 2024 due to the viral success of their social video platform, Lomotif.

• Market Trends:
  Companies like Vinco Ventures benefit from strong advertiser interest with the continued rise of short video platforms like TikTok and Instagram Reels.

2. Mullen Automotive (NASDAQ: MULN)

• Company Overview:
  Mullen Automotive is an EV startup aiming to develop affordable electric vehicles for the U.S. market.

• Market Performance:
  MULN stock has surged 80% after announcing successful battery range tests, beating competitors’ performance at a lower cost.

• Industry Trends:
  The global EV market is booming, supported by government incentives and consumer demand for clean energy vehicles.

3. T2 Biosystems (NASDAQ: TTOO)

• Company Overview:
  T2 Biosystems develops rapid diagnostic tests for detecting bloodstream infections and sepsis.

• Recent Performance:
  TTOO stock rose 75% following the FDA approval of its new sepsis panel, which reduces diagnosis time from days to hours.

• Growth Potential:
  Quick diagnostic solutions are in high demand with rising global health concerns.

4. Sundial Growers (NASDAQ: SNDL)

• Company Overview:
  Sundial Growers is a cannabis producer expanding into cannabis retail and investment through acquisitions.

• Market Performance:
  SNDL stock jumped over 50% after positive legislative news around federal marijuana legalization in the United States.

• Industry Trends:
  The U.S. cannabis industry could exceed $40 billion by 2025 if federal legalization progresses, creating strong upside potential for companies like Sundial.

5. Verb Technology (NASDAQ: VERB)

• Company Overview:
  Verb Technology develops interactive video sales tools that help businesses drive customer engagement directly within videos.

• Recent Performance:
  VERB shares climbed 65% after securing partnerships with several e-commerce platforms.

• Growth Factors:
  Demand for interactive marketing tools is growing fast with more companies shifting to digital-first sales strategies.

6. Ideanomics (NASDAQ: IDEX)

• Company Overview:
  Ideanomics focuses on EV solutions, including financing, sales, and infrastructure development.

• Market Performance:
  IDEX stock gained 58% after announcing a joint venture with a Chinese EV battery manufacturer.

• Future Outlook:
  As governments worldwide push for clean energy adoption, companies like Ideanomics benefit from global EV investment flows.

7. BitNile Holdings (NYSE American: NILE)

• Company Overview:
  BitNile Holdings has a diverse portfolio, including crypto mining, data centers, and EV charging infrastructure.

• Market Performance:
  NILE stock rose over 70% following Bitcoin’s surge past $60,000, boosting sentiment for crypto-related companies.

• Key Trends:
  Crypto infrastructure players like BitNile could see continued upside with increasing institutional interest in cryptocurrencies.

8. Exela Technologies (NASDAQ: XELA)

• Company Overview:
  Exela Technologies provides business process automation (BPA) solutions, helping companies streamline back-office processes.

• Market Performance:
  XELA stock surged 55% after winning multiple new contracts in healthcare and finance sectors.

• Future Potential:
  As businesses focus on cost-cutting and automation, Exela’s AI-powered automation solutions become increasingly attractive.

9. Zomedica (NYSE American: ZOM)

• Company Overview:
  Zomedica develops innovative veterinary diagnostic products, targeting the growing pet healthcare market.

• Recent Performance:
  ZOM stock gained 48% after launching a new diagnostic platform that improves accuracy for pet disease detection.

• Industry Trends:
  Spending on pet healthcare is expected to exceed $40 billion in 2025, with pet ownership in the U.S. at record levels.

10. Jaguar Health (NASDAQ: JAGX)

• Company Overview:
  Jaguar Health focuses on developing plant-based medicines for gastrointestinal diseases in both humans and animals.

• Market Performance:
  JAGX stock increased 62% after positive Phase 2 trial results for its lead drug candidate.

• Growth Potential:
  Jaguar Health could capture significant market share because of growing demand for natural medicines and increasing awareness about gut health.

Final Thoughts

These top 10 penny stocks in the United States highlight the potential in small-cap investing. EVs, AI to biotech,  and cannabis companies represent different sectors poised for growth. However, penny stocks are inherently risky. Always conduct thorough research and consult with a financial advisor before investing.

Frequently Asked Questions (FAQs)

Which is the best penny stock to buy in the USA?

There is no perfect answer. But stocks like Genius Group, Ault Alliance, and Inuvo are popular with penny stock investors today. For more information about buying penny stocks visit here.

What is the most successful penny stock?

Monster Beverage started as a penny stock. Now, it’s a global brand worth billions. It’s one of the biggest penny stock success stories.

What are the top 10 penny stocks today?

Top 10 penny stocks today include Genius Group, Ault Alliance, Inuvo, Farmmi, Naked Brand, SunHydrogen, ToughBuilt, Zomedica, Transocean, and Waitr Holdings.