In this article, we will discuss the 10 penny stocks that will make you a millionaire. If you want to explore similar stocks, you can also take a look at 5 Penny Stocks That Will Make You A Millionaire.
Penny stocks can be an attractive option for investors looking to get in on the stock market without breaking the bank. While penny stocks may offer the potential for large returns, they are also highly risky and can lead to significant losses. Investing in penny stocks requires a great deal of research and due diligence, as well as an understanding of the unique risks associated with this form of stock market trading.
The primary benefit of investing in penny stocks is the potential for large returns. Penny stocks are typically stocks that are trading for less than $5 per share, and they can be incredibly volatile. This means that even a small change in the price of the stock can result in a large percentage gain or loss. This can be attractive to investors who are looking for quick profits, but it also means that there is a high risk of losses.
When investing in penny stocks, investors should conduct thorough research into the company and its operations, as well as the industry in which it operates. It is important to understand the financial statements and the trends in the industry, as well as the company's competitive landscape. Additionally, investors should be aware of the high volatility associated with penny stocks and should be prepared for large swings in the price of the stock.Here is where we come in. We found some penny stocks that have the potential to make you a millionaire. Some of the penny stocks that can make you a millionaire includeTellurian Inc. (NASDAQ:TELL),Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), andFarfetch Limited (NYSE:FTCH), all of which, among others, are discussed in detail below.
To find penny stocks that can potentially make early investors a millionaire, we read recently published articles on Stock Gumshoe.Stock Gumshoe is an online financial resource and analysis website that helps investors make better decisions. It provides a unique and in-depth look at the stock market, giving investors valuable insights into the underlying fundamentals ofcompanies. The site was founded by Travis Johnson in 2007 and is focused on uncovering "secret stocks" pitched by famous premium investment newsletters, and also determining whether those stocks are worth the hype and worth investors' money.
Our Methodology
We read these articles carefully and then selected the stocks that have promising futures ahead of them and are currently trading under $5 a share. We have discussed each stock in detail and have talked about the company's business model, products, financials. Moreover, along with each stock, we have included the hedge fund sentiment, analyst ratings, and publishers' pitches.
At Insider Monkey, we firmly believe that the hedge fund sentiment is a good indicator of confidence in a company's future. So, we have ranked these stocks according to their popularity among elite money managers, from least popular to most popular.
10. Zevia PBC (NYSE:ZVIA)
Share Price as of January 6: $4.64
Number of Hedge Fund Holders: 3
Zevia PBC (NYSE:ZVIA) is an American beverages company that develops and distributes carbonated and non-carbonated soft drinks in the United States and Canada. The company's product offerings include soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water.
Stock Gumshoe thinks that Alexander Green, the Chief Investment Strategist for The Oxford Club, teased Zevia PBC (NYSE:ZVIA) in his Oxford Microcap Trader newsletter. Here are some comments from the publisher's pitch:
“The company has sold over a billion beverages and added over 1 million new households to its customer base last year.It’s the fastest-growing natural product in the U.S.And its earnings have skyrocketed…In the last two years alone, earnings are up 1,379%!But the stock trades for less than $5 a share!”
On November 10, Zevia PBC (NYSE:ZVIA) posted earnings for the third quarter of fiscal 2022, in which the company beat EPS by $0.04. The company's revenue for the quarter amounted to $44.24 million, up 13.56% year over year. As of January 6, Zevia PBC (NYSE:ZVIA) trades at $4.64 a share and is one of the penny stocks that has the potential to make you a millionaire.
At the end of Q3 2022, 3 hedge funds held stakes in Zevia PBC (NYSE:ZVIA). The total value of these stakes amounted to $1.39 million. As of September 30, Lakewood Capital Managementis the largest shareholder in the company and has a position worth $1.2 million.
Like Tellurian Inc. (NASDAQ:TELL),Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), andFarfetch Limited (NYSE:FTCH), Zevia PBC (NYSE:ZVIA) is a potential gold mine and can rake in millions of dollars on a relatively small initial investment.
9. Trilogy Metals Inc. (NYSE:TMQ)
Share Price as of January 6: $0.56
Number of Hedge Fund Holders: 6
Next up is a base metals exploration company, Trilogy Metals Inc. (NYSE:TMQ), that explores for and develops mineral properties in the United States. The stock was teased by self-proclaimed "America's #1 Stock Timer", Dr. Stephen Leeb, in The Complete Investor. Here are some comments from Dr. Stephen Leeb about the stock:
“Turn a small $2,700 stake into a potential $16,200… and a larger one into as much as $62,500… with one of the greatest opportunities in America right now.Get in before official U.S. government approval to secure the kind of gains that can outpace inflation and secure your financial future.”
Travis Johnson thinks that Dr. Stephen Leeb is talking about Trilogy Metals Inc. (NYSE:TMQ). Last October,National Bank analyst Rabi Nizami revised her price target on Trilogy Metals Inc. (NYSE:TMQ) to C$1.15 from C$1.35 and maintained a Sector Perform rating on the shares.
Trilogy Metals Inc. (NYSE:TMQ) might just be the penny stock that will make you a millionaire. According to Stephen Leeb, Trilogy Metals Inc. (NYSE:TMQ) has "one of the highest grade resource deposits in the world, packed with159 million pounds of copper,199 million pounds of zinc,33 million pounds of lead,3 million ounces of silver, and 30,600 ounces of gold”, and the stock is still trading at $0.56 per share, as of January 6.
At the close of Q3 2022, 6 hedge funds were bullish on Trilogy Metals Inc. (NYSE:TMQ) and disclosed positions worth $16.35 million in the company. Of those, GMT Capitalwas the largest investor in the company with a stake of $364,000.
8. Matterport, Inc. (NASDAQ:MTTR)
Share Price as of January 6: $2.72
Number of Hedge Fund Holders: 7
Matterport, Inc. (NASDAQ:MTTR) is one of the top metaverse stocks teased by Andrew Snyder’s Manward Letter. Matterport, Inc. (NASDAQ:MTTR) is an innovative3D data capture and visualization technology company based in Sunnyvale, California. The company develops solutions to capture, digitize and share three-dimensional spaces. The company's technology is used in a variety of industries, such as real estate, architecture, engineering & construction, tourism & hospitality, retail, and media & entertainment among others.
Here are some comments from Andrew Snyder's pitch for Matterport, Inc. (NASDAQ:MTTR):
"This $5 Stock Could Be the Gateway to the Metaverse.You see, I believe the biggest growth in the metaverse will be in industrial applications.Just as computers and microchips are part of our everyday lives, augmented reality soon could be as well.It’s the start of something big.And I believe one company will be at the center of it all.It’s a software firm that specializes in turning the real world into lifelike 3D imaging. It can take any physical space and transform it into an accurate and photorealistic digital copy.
Wall Street forecasts the virtual world builder will see… ‘revenue triple by 2025.’With an under-$5 price right now, that could translate into a huge win."
Last November, Deutsche Bank analyst Bhavin Shah updated his price target on Matterport, Inc. (NASDAQ:MTTR) to $5 from $7 and maintained a Buy rating on the shares. As of January 6, Matterport, Inc. (NASDAQ:MTTR) trades at $2.72 per share. The penny stock has the potential to turn into a million dollar investment as the metaverse kicks up.
At the end of Q3 2022, 7 hedge funds were long Matterport, Inc. (NASDAQ:MTTR) and disclosed positions worth $5.85 million in the company. Of those, Sculptor Capitalwas the top shareholder in the company and held a position worth $1.51 million.
7. Absci Corporation (NASDAQ:ABSI)
Share Price as of January 6: $2.43
Number of Hedge Fund Holders: 8
Absci Corporation (NASDAQ:ABSI) is an innovative drug discovery company that provides biologic drug candidates and production cell lines using an integrated drug creation platform for partners in the United States. The penny stock has the potential to rake in millions and is placed on our list of the best penny stocks that can make you a millionaire.
The stock was teased by Alexander Green in his Oxford Microcap Tradernewsletter. Here are some comments from the publisher's pitch:
"The company has one mission: to transform the drug discovery market.It uses artificial intelligence to create new drugs at breakneck speed.Its AI-powered drug discovery platform integrates genomics, engineering, hyperscale data science, and machine learning to reduce costs, move quickly, and solve the toughest problems in drug development"
On November 9, Absci Corporation (NASDAQ:ABSI) posted earnings for the fiscal third quarter of 2022. The company reported a revenue of $2.37 million, up 53.93% year over year, and outperformed Wall Street consensus by $0.50 million.
At the end of Q3 2022, 8 hedge funds held stakes in Absci Corporation (NASDAQ:ABSI). The total value of these stakes amounted to $54.48 million. As of September 30, Redmile Groupis the largest shareholder in Absci Corporation (NASDAQ:ABSI) and has a position worth $25 million in the company.
6. Unity Biotechnology, Inc. (NASDAQ:UBX)
Share Price as of January 6: $3.36
Number of Hedge Fund Holders: 11
Unity Biotechnology, Inc. (NASDAQ:UBX) is a clinical-stage biotechnology company that focuses on developing therapeutics to slow, halt, or reverse diseases associated with aging. Unity Biotechnology, Inc. (NASDAQ:UBX) was teased by Angel Publishing in itsTechnology & Opportunitynewsletter. Here are some comments from the pitch:
"this small biotech firm has figured out how to make zombie cells self-destruct…And completely erase every sign of aging from your body!Inside this patented pill is a special group of compounds called senolytics.Seno is derived from the Latin word -senex, meaning old, and -lytic, meaning to destroy.So, the literal definition of senolytics is ‘old-destroying.’And that’s exactly what these compounds do.Once inside your body, senolytic compounds selectively target your old, damaged zombie cells, causing them to self-destruct.”
Unity Biotechnology, Inc. (NASDAQ:UBX) is trading at $3.36 a share, as of January 6. The company has the potential to disrupt the healthcare industry and is one of the penny stocks that can potentially return millions of dollars to early stage investors. The stock is one of the penny stocks that can make you a millionaire.
Last November,Wedbush analyst Andreas Argyrides raised his price target on Unity Biotechnology, Inc. (NASDAQ:UBX) to $36 from $4 and maintained an Outperform rating on the shares.
At the end of Q3 2022, 11 hedge funds were eager on Unity Biotechnology, Inc. (NASDAQ:UBX) and disclosed stakes worth $9.46 million in the company. Of those, Alyeska Investment Groupwas the dominant investor in the company with a position worth $5.08 million.
In addition to Unity Biotechnology, Inc. (NASDAQ:UBX), other penny stocks with promising upside potential include Tellurian Inc. (NASDAQ:TELL),Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), andFarfetch Limited (NYSE:FTCH).
Click to continue reading and see 5 Penny Stocks That Will Make You A Millionaire.
Suggested articles:
14 Best Stocks To Buy Before A Recession
25 Most Influential Countries in the World
Jim Cramer's Recession-Proof Stocks
Disclosure: None. 10 Penny Stocks That Will Make You A Millionaireis originally published on Insider Monkey.
