7 of the Best Penny Stocks to Buy Now
Penny stocks are stocks that trade at low prices, typically below $5 per share. They are often considered risky and speculative, but they can also offer high returns for investors who are willing to take on some risk. Here are seven of the best penny stocks to buy now, based on their value, growth, and momentum.
1. ElectraMeccanica Vehicles (SOLO)
ElectraMeccanica Vehicles is a Canadian company that designs and manufactures electric vehicles, including a single-seat commuter car called SOLO. The company has been ramping up its production and sales of SOLO in the U.S. and Canada, and plans to expand into Europe and Asia in the future. The stock has gained more than 300% in the past year, as investors bet on the growing demand for eco-friendly transportation solutions.
2. Zovio (ZVO)
Zovio is an education technology company that provides online learning platforms and services for higher education institutions and employers. The company’s flagship product is Ashford University, an accredited online university that offers more than 80 degree programs. Zovio also owns TutorMe, an online tutoring service that connects students with tutors in various subjects. The stock has surged more than 200% in the past year, as the COVID-19 pandemic boosted the demand for online education.
3. Revive Therapeutics (RVVTF)
Revive Therapeutics is a biotechnology company that focuses on developing novel therapies for rare and infectious diseases. The company’s lead candidate is Bucillamine, a drug that is being tested for the treatment of COVID-19 and cystinuria, a rare kidney disorder. The company also has a pipeline of psychedelic-based drugs for mental health disorders, such as depression and anxiety. The stock has soared more than 600% in the past year, as the company advanced its clinical trials and received regulatory approvals.
4. Coty (COTY)
Coty is a global beauty company that owns and licenses several well-known brands, such as Calvin Klein, Burberry, Gucci, and Kylie Cosmetics. The company has been undergoing a strategic transformation to improve its profitability and growth, which includes divesting some of its non-core assets, streamlining its operations, and investing in digital and e-commerce channels. The stock has rebounded more than 100% in the past year, as the company showed signs of recovery from the pandemic-induced slump.
5. Husky Energy (HUSKF)
Husky Energy is a Canadian energy company that engages in oil and gas exploration, production, refining, and marketing. The company operates in Canada, the U.S., China, Indonesia, and Taiwan. The company recently merged with Cenovus Energy, creating Canada’s third-largest oil and gas producer. The stock has jumped more than 100% in the past year, as oil prices recovered from their historic lows.
6. Harte Hanks (HHS)
Harte Hanks is a marketing services company that helps clients connect with their customers across various channels, such as email, social media, mobile, web, and direct mail. The company serves clients in various industries, such as retail, financial services, healthcare, and technology. The stock has skyrocketed more than 1,000% in the past year, as the company improved its financial performance and won new contracts.
7. Nordic American Tankers (NAT)
Nordic American Tankers is a shipping company that owns and operates a fleet of crude oil tankers. The company transports oil for major oil companies and national governments around the world. The stock has risen more than 100% in the past year, as the company benefited from high demand and rates for oil transportation amid the global supply glut.