There seems to be a disconnect between the broader markets and penny stocks. While this is typically the case, the stark differences are much more apparent this month. The S&P 500, Nasdaq, and Dow have all pulled back from highs, ending a multi-week rally before the big Jackson Hole meeting. This stalled or stagnant sentiment in the stock market today has led traders to hunt for alpha elsewhere. Higher volatility equities like penny stocks are the preferred flavor right now.
It isn’t Chunky Monkey or Cherry Garcia, but the massive gains from stocks under $5 have whet the appetites of short-term traders. Now, the search is on for another round of multi-bagger penny stocks to buy, thanks to big moves from meme stocks, including Bed Bath & Beyond, Blue Apron, and plenty of others over the last few weeks.
Best Penny Stocks to Buy Now
This article looks at a handful of penny stocks that can be bought for under $5. While volatility remains high, it will be important to determine if the risk is worth the potential reward. We look at recent events, technical trends, and more so you can make that determination for yourself.
- Vivakor Inc. (NASDAQ: VIVK)
- Lufax Holding LTD (NYSE: LU)
- Helius Medical Technologies (NASDAQ: HSDT)
- New Concept Energy Inc. (NYSEAMERICAN: GBR)
- Ring Energy Inc. (NYSEAMERICAN: REI)
Vivakor Inc. (NASDAQ: VIVK)

Shares of Vivakor surged in early morning trading on Tuesday thanks to an uptick in energy stocks. In particular, the company specializes in clean energy solutions, and a recent acquisition helped expand Vivakor’s portfolio.
The company closed the Silver Fuels Delhi and White Claw Colorado City purchase for $37.4 million. Matthew Nicosia, CEO and President of Vivakor explained, “The synergistic acquisitions of SFD and WCCC represent a momentous and transformative event for Vivakor and our valued shareholders. Given the long-term contracts presently in place at both SFD and WCCC, we expect to realize significant annual revenue and for both entities to generate meaningful EBITDA and profitability.”
With a float of fewer than 10 million shares and strong energy industry tailwinds, VIVK stock could be one to watch amid this rising energy stock trend. In addition, it will be interesting to see if the penny stock can break and hold above the 50-day moving average. That has been a level of resistance since early July.
Lufax Holding LTD (NYSE: LU)

Fintech company Lufax Holdings shares have been steadily recovering from a late Q3 sell-off that took the penny stock to lows of $3.84.The company offers personal financial services platforms in China and is a part of the Ping An Group, a larger financial services conglomerate. As the umbrella company, news from Ping An seems to have impacted shares of LU stock this week.
The company boasts more than 225 million retail customers and roughly y668 million internet users making it one of the larger financial service companies globally. This week, Ping announced results from the last year of business, which included steady growth. Profit grew, its customer base grew, and net profit rose. In its update, Ping also updated on the performance of Lufax, which it said: “continuously furthered its strategic transformation” with revenue growth of 8.4% year-over-year.
Right now, analysts remain cautiously optimistic about the company. This is based on recent updates from firms like Daiwa Securities and UBS. Both carry a Buy rating on LU stock and price targets ranging from $6.20 to $6.40.
[Read More] Best Penny Stocks To Buy Now? 4 To Watch As APE Stock Goes Public
Helius Medical Technologies (NASDAQ: HSDT)

Shares of Helius Medical also popped this week thanks to new market activity. In particular, Roth Capital initiated coverage on the medical technology stock, starting with a Buy rating and a $5 target. Helius is coming fresh from more robust earnings results for the second quarter. EPS and sales were both up over the last year. Meanwhile, significant milestones from its Portable Neuromodulation Stimulator were discussed in detail.
Portable Neuromodulation Stimulator or PoNS is Helius’ non-surgical medical device delivering electrical stimulation to the tongue’s surface. It’s indicated for use as a treatment for gait deficit from multiple sclerosis symptoms. The company fulfilled its first U.S. prescriptions of PoNS during the first quarter and made therapy training available in July. Helius is looking to roll out ePrescribing platforms through its network of licensed providers to open access to PoNS.
Expectations are high that Q3 will be even better. According to the company, it’s expecting Q3 revenue to be “modestly above” Q2 figures. It also anticipates future quarterly revenue growth sequentially through 2023.
The latest volume spike and leg higher toward its 50-day moving average could also be something to monitor.
New Concept Energy Inc. (NYSEAMERICAN: GBR)

One of the other cheap energy penny stocks to watch is New Concept. The company recently reported its second-quarter results, demonstrating year-over-year earnings per share and sales growth. It provides management services for oil and gas companies and owns real estate in West Virginia.
Second quarter operating results showed a jump in EPS from $0.01 last year to $0.02 during the same period this year. This is the second consecutive quarter that EPS has been positive, and sales figures have increased year-over-year.
[Read More] Cheap Penny Stocks to Buy in September? 3 For Your List
While traders may hunt for energy stocks, they also look for low float names. GBR stock fits the mold with fewer than 10 million shares in the float. Given the momentum boost in the industry today, it could be one of the penny stocks to watch as long as the trend persists. In addition, the technicals support a more bullish tone as GBR stock has firmly broken and held above its 50-day moving average for the first time in months. That level has been a consistent level of resistance since April.
Ring Energy Inc. (NYSEAMERICAN: REI)

Speaking of flavors of the day, energy is becoming the focus. Ring Energy has continued a slow and steady uptrend since reaching 2022 lows of $2.19 in July. It has also bounced back thanks to its latest Q2 earnings beat announced in August. A $0.29 EPS and sales of $85 million came in much higher than expected.
Meanwhile, insider activity earlier in the month helped boost market sentiment. As we discussed in this article, 10% Owner William Kruse has been purchasing stock. How much has he bought? So far, Kruse’s purchases racked up more than 900,000 shares of REI stock at average prices around $2.66-$2.67. If you’re keeping score at home, that puts the trades at over $2.3 million.See more REI stock filings.
Meanwhile, the attention on short squeeze stocks has kept REI on the watch list. Fintel.IO and TDAmeritrade put the short float percentage around 21% as of this article. So if this is one of the names on your list of penny stocks with exposure to energy, keep that in mind.
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FAQs
What are the top 5 high return penny stocks? ›
S.No. | Top Penny Stocks in India 2023 | Industry |
---|---|---|
1. | Vodafone Idea Ltd | Telecom |
2. | Alok Industries Ltd | Textile |
3. | Jammu & Kashmir Bank Ltd | Banking |
4. | Indian Overseas Bank | Banking |
- Verastem Inc.
- Compugen.
- Cybin.
- Freeline Therapeutics.
- AVROBIO.
- OnoCyte.
- Mogo.
- Organigram.
Fastest Growing Tech Penny Stocks | ||
---|---|---|
Price ($) | Revenue Growth (%) | |
Grab Holdings Inc. (GRAB) | 3.03 | 311.5 |
Stem Inc. (STEM) | 4.92 | 194.5 |
Velo3D Inc. (VLD) | 1.95 | 186.1 |
BNGO | Bionano Genomics Inc. | 0.6666 |
---|---|---|
MVLA | Movella Holdings Inc. | 2.39 |
MVST | Microvast Holdings Inc. | 1.48 |
NVOS | Novo Integrated Sciences Inc. | 0.1502 |
CLSK | CleanSpark Inc. | 4.47 |
Penny Stock | Code | Market Cap |
---|---|---|
Biolase | NASDAQ: BIOL | $13.76M |
Venator Materials | NYSE: VNTR | $69.77M |
Pharma-Bio Serve | OTCMKTS: PBSV | $21.35M |
Compugen | NASDAQ: CGEN | $81.44M |
Symbol | Name | Price (Intraday) |
---|---|---|
AMZN | Amazon.com, Inc. | 116.75 |
NVDA | NVIDIA Corporation | 305.38 |
BAC | Bank of America Corporation | 28.10 |
AAPL | Apple Inc. | 171.84 |
HMENF | Hemisphere Energy | $0.91 |
---|---|---|
PFHO | Pacific Health Care | $0.92 |
POSAF | POSaBIT Systems | $0.67 |
VASO | Vaso Corp. | $0.24 |
XTMIF | XTM. Inc. | $0.12 |
- Gerdau S.A. (NYSE:GGB)
- Lufax Holding Ltd (NYSE:LU)
- Olaplex Holdings, Inc. (NASDAQ:OLPX)
- Nokia Oyj (NYSE:NOK)
- Banco Santander, S.A. (NYSE:SAN)
- Itaú Unibanco Holding S.A. (NYSE:ITUB)
- Ferroglobe PLC (NASDAQ:GSM)
- Research the Company. ...
- Look for Volatility. ...
- Look for Volume. ...
- Look for Catalysts. ...
- Listen to What Others Are Saying. ...
- Get More Knowledge About Penny Stock Patterns. ...
- Consider the Time of Day. ...
- Pay Close Attention to Debt.
Stock | Code | Price (Closing Price on Jan. 25) |
---|---|---|
Globalstar | NYSEAMERICAN: GSAT | $1.32 |
Globus Maritime Limited | NASDAQ: GLBS | $1.21 |
Xeris Biopharma Holdings, Inc. | NASDAQ: XERS | $1.18 |
Vacasa | NASDAQ: VCSA | $1.66 |
Do any penny stocks ever go big? ›
Do penny stocks ever "go big"? Penny stocks can certainly "go big," but the problem is these parabolic moves are usually short-lived. Penny stocks frequently double or triple in price in short periods, but these companies usually have a very bleak 5-year chart.
What are the best stocks under 10 cents? ›- #1 - Ideanomics. NASDAQ:IDEX. Stock Price: $0.04 (-$0.00) ...
- #2 - Virgin Orbit. NASDAQ:VORB. ...
- #3 - ObsEva. NASDAQ:OBSV. ...
- #4 - Aptinyx. NASDAQ:APTX. ...
- #5 - PLx Pharma. NASDAQ:PLXP. ...
- #6 - Evofem Biosciences. NASDAQ:EVFM. ...
- #7 - Pear Therapeutics. NASDAQ:PEAR. ...
- #8 - Rubius Therapeutics. NASDAQ:RUBY.
- Open a brokerage account.
- Understand you're probably a speculator, not an investor.
- Start small and diversify.
- Beware penny stock scams.
- Check the volume.
- Be prepared to research.
- Vodafone Idea. ...
- Alok Industries Ltd. ...
- Yes Bank Ltd. ...
- Dish TV India Ltd. ...
- Morepen Laboratories Ltd. ...
- GMR Power and Urban Infra Ltd. ...
- Jaiprakash Power Ventures Ltd. ...
- Mangalam Industrial Finance Ltd.
Investing in U.S. exporters, tangible assets (foreigners who buy U.S. real estate or commodities), and appreciating currencies or stock markets provide the basis for profiting from the falling U.S. dollar.
What is a good dollar stock? ›- Compugen Ltd. (NASDAQ:CGEN)
- SelectQuote, Inc. (NYSE:SLQT)
- Doma Holdings Inc. (NYSE:DOMA)
- Alaunos Therapeutics, Inc. (NASDAQ:TCRT)
- ATI Physical Therapy, Inc. (NYSE:ATIP)
- LumiraDx Limited (NASDAQ:LMDX)
- Gran Tierra Energy Inc. (NYSE:GTE)
Company | Forward Sales Growth Next Year |
---|---|
Alphabet (GOOG, GOOGL) | +11.8% |
Eli Lilly (LLY) | +19.4% |
Match (MTCH) | +13.0% |
Progressive (PGR) | +10.9% |
In addition to Amgen, Inc. (NASDAQ:AMGN), other Fast Money stocks that are widely held by elite hedge funds include Tesla, Inc. (NASDAQ:TSLA), UnitedHealth Group Inc. (NYSE:UNH), and Microsoft Corporation (NASDAQ:MSFT).
What stock to buy for first time? ›- Amazon (NASDAQ: AMZN)
- Alphabet (NASDAQ: GOOG)
- Apple (NASDAQ: AAPL)
- Costco (NASDAQ: COST)
- Disney (NYSE: DIS)
- Meta (NASDAQ: META)
- Mastercard (NYSE: MA)
- Microsoft (NASDAQ: MSFT)
S.No. | Name | CMP Rs. |
---|---|---|
1. | Brightcom Group | 16.30 |
2. | T N Newsprint | 229.65 |
3. | Jullundur Motor | 69.60 |
4. | O N G C | 166.00 |
Which stocks to buy for 1 month? ›
- Life Insurance. 603.60. 10.49. 381776.86. 0.25. 13427.81. 466.20. 200178.83. -5.27. 148.72. 10.20. 161.45.
- Tata Elxsi. 7261.00. 59.88. 45218.92. 0.59. 201.52. 25.94. 837.92. 22.91. 47.60. 15.42. 45.64.
- CG Power & Indu. 373.25. 75.50. 57002.71. 0.40. 426.22. 125.48. 1902.79. 28.18. 61.18. 20.89. 41.42.
Assertio Holdings (ASRT) | Health care | 75% |
CompoSecure (CMPO) | Industrials | 53% |
Garrett Motion (GTX) | Consumer cyclical | 4% |
Heritage Global (HGBL) | Financial services | 25% |
Vertex Energy (VTNR) | Energy | 13% |
- ServiceNow, Inc. (NYSE: NOW)
- Alphabet Inc. (NASDAQ: GOOG)
- Amazon.com, Inc. (NASDAQ: AMZN)
- The Walt Disney Company (NYSE: DIS)
- Palo Alto Networks, Inc. (NASDAQ: PANW)
- The Boeing Company (NYSE: BA)
- Prologis, Inc. (NYSE: PLD)
- Johnson & Johnson (NYSE: JNJ)
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.
What is the best time of day to buy penny stocks? ›The opening 9:30 a.m. to 10:30 a.m. Eastern Time (ET) period is often one of the best hours of the day for day trading, offering the biggest moves in the shortest amount of time. A lot of professional day traders stop trading around 11:30 a.m. because that is when volatility and volume tend to taper off.
Can you make money fast with penny stocks? ›Can you make 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.
How often do penny stocks succeed? ›You are unlikely to get rich trading penny stocks. On the contrary, you are much more likely to lose your money. Penny stocks and OTC stocks have an average negative annual return of 24%. Over 90% of penny stocks fail.
Is a weak dollar good for stocks? ›More important to an investor is the impact of the dollar's rise or fall on the individual stocks they own. Companies that rely on imports thrive when the U.S. dollar is strong. Companies that sell their products globally thrive when the dollar is weak.
What stocks have the highest rate of return? ›Symbol | Company Name | Price Performance (1 Yr) |
---|---|---|
LVS | Las Vegas Sands Corp. | 78.95% |
NFLX | Netflix Inc. | 65.36% |
LW | Lamb Weston Holdings Inc. | 65.01% |
GE | General Electric Co. | 63.17% |
Some investors consider penny stocks to be those that trade for less than $1 and/or over the counter on the OTC Bulletin Board.
What are the best small stocks to buy now? ›
- Ujjivan Financial Services. Ujjivan Financial Services is a microfinance company based in India. ...
- Gokaldas Exports. ...
- Bajaj Consumer Care. ...
- Delta Corp. ...
- Thyrocare Technologies Ltd. ...
- Conclusion.
Stock | Code | Price (Closing Price on Jan. 25) |
---|---|---|
Vacasa | NASDAQ: VCSA | $1.66 |
Cidara Therapeutics, Inc. | NASDAQ: CDTX | $1.28 |
22nd Century Group | NASDAQ: XXII | $1.14 |
WM Technology | NASDAQ: MAPS | $1.22 |
- U.S. Bancorp USB.
- Taiwan Semiconductor Manufacturing TSM.
- GSK PLC GSK.
- Wells Fargo WFC.
- Roche Holding RHHBY.
- Comcast CMCSA.
- International Flavors & Fragrances IFF.
- Anheuser-Busch InBev BUD.
- Amazon (NASDAQ: AMZN)
- Alphabet (NASDAQ: GOOG)
- Apple (NASDAQ: AAPL)
- Costco Wholesale (NASDAQ: COST)
- Disney (NYSE: DIS)
- Meta Platforms, Inc (NASDAQ: META)
- Mastercard (NYSE: MA)
- Microsoft (NASDAQ: MSFT)
Name | Last | High |
---|---|---|
AAPLApple | 172.99 | 173.90 |
AMZNAmazon.com | 115.00 | 116.87 |
TSMTaiwan Semiconductor | 100.95 | 102.37 |
METAMeta Platforms | 252.69 | 255.62 |
S.No. | Name | CMP Rs. |
---|---|---|
1. | Shreyans Inds. | 212.50 |
2. | Brightcom Group | 14.80 |
3. | Dhunseri Vent. | 247.50 |
4. | Oil India | 268.90 |
Symbol | Name | Price (Intraday) |
---|---|---|
T | AT&T Inc. | 15.15 |
INTC | Intel Corporation | 27.40 |
AMZN | Amazon.com, Inc. | 115.00 |
TSM | Taiwan Semiconductor Manufacturing Company Limited | 100.95 |
Company | Price | Change |
---|---|---|
ORCL Oracle Corp | 104.29 | +5.97 |
NOW ServiceNow Inc | 531.78 | +29.23 |
RL Ralph Lauren Corp | 114.00 | +5.78 |
ETN Eaton Corporation PLC | 176.95 | +8.78 |
- U.S. companies generating international sales.
- Commodities.
- Gold.
- Cryptocurrencies.
- Emerging markets.
- International stocks.
- International currency ETFs.
Company | Sector | Market cap |
---|---|---|
Comcast (CMCSA) | Communication services | $175 billion |
Bristol-Myers Squibb (BMY) | Health care | $143 billion |
Qualcomm (QCOM) | Technology | $129 billion |
Broadcom (AVGO) | Technology | $265 billion |
Is Google still a good stock to buy? ›
It's trading only around 14 times forward earnings now. This cheap valuation provided Google's dominant market-leading position and future growth prospects with significant profitability potential, making Google an ideal stock to own for the long haul.