5 Best Penny Stocks With 10x Potential to Buy 2022 - Hindustan Times
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5 Best Penny Stocks With 10x Potential to Buy 2022

ByHT Brand Studio
Feb 24, 2022 03:58 PM IST

In this market insight, we explore five of the best penny stocks to consider buying for your portfolio

Penny stocks allow you to buy cheap shares at a price of $5 or less. Although riskier than traditional equities, penny stocks allow you to target higher growth potential.

Penny stocks to buy for growth
Penny stocks to buy for growth

In this market insight, we explore five of the best penny stocks to consider buying for your portfolio today.

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The Best Penny Stocks to Buy Right Now for Huge Growth

As per our market research, we concluded that the five best penny stocks to buy now are those listed below.

  1. Lucky Block- Blockchain Based Lottery Concept With 4,000% Growth
  2. Kosmos Energy - Best Penny Stock for Exposure to US-Based Oil Reserves
  3. Inpixon - Cheap Penny Stock With Tiny Market Capitalization
  4. Nano Dimension - Undervalued Penny Stock With an Enhanced Risk/Reward Ratio
  5. Gevo - One of the Best Penny Stocks in 2022 for an Alternative to Gasoline

Our analysis of the best penny stocks outlined above can be found in the next section of this market insight.

The Best Penny Stocks to Buy Now for Huge Growth

When searching for the best penny stocks to buy now, it is important to focus on the risk of your investment alongside the potential upside.

We found that the penny stocks outlined below offer a great balance between both risk and reward.

1. Lucky Block - Blockchain-Based Lottery Concept With 4,000% Growth

Although Lucky Block is traded as a digital asset as opposed to a traditional equity, the project offers all of the same characteristics as a top-rated penny stock. In a nutshell, Lucky Block is building a global lottery framework that will operate on top of the blockchain protocol.

In turn, lottery games are accessible on a global basis and are guaranteed for their fairness via smart contract technology. This will result in a more transparent lottery ecosystem alongside more favorable odds for players. Moreover, the Lucky Block Telegram group has gathered over 33,000 members.

The Lucky Block token was listed on PancakeSwap, one of the best crypto exchanges, in late January 2022 and since then has generated unprecedented returns of over 4,000%. All in all, Lucky Block - at just $0.0068 per token, is a cheap crypto asset to buy with huge upside potential.

Buy Lucky Block Now

Cryptocurrency markets are highly volatile and your investments are at risk.

2. Kosmos Energy - One of the Best Stocks to Buy Now for Exposure to US-Based Oil Reserves

Kosmos Energy is a US-based oil firm that is listed on the NYSE with a small-cap valuation of just over $2 billion. As of writing, this stock is trading at just $4.63 per share.

Although Kosmos Energy had a somewhat rocky start to life as a publicly-traded company, this top-rated penny stock has performed very well in recent times. In fact, over the prior 12 months alone, Kosmos Energy stocks are up over 58%.

With that said, over the course of the past five years, this penny stock has seen losses of 21%. Nevertheless, with such a small market capitalization, there is plenty of upside potential to target.

Buy Kosmos Energy Shares on eToro

68% of retail investor accounts lose money when trading CFDs with this provider.

3. Inpixon - Cheap Penny Stock With Tiny Market Capitalization

If you’re on the search for the best penny stocks to buy now in terms of a low entry price of undervalued market capitalization, then Inpixon could be the right investment for you.

This US-based company specializes in software solutions across two core divisions data analytics and indoor positioning. As of writing, you can invest in this top-rated penny stock at just $0.35 per share.

Listed on the NASDAQ, Inpixon stocks have taken a huge beating over the prior 12 months, with losses of over 80%.

However, with a tiny market capitalization of just $43 million as of writing, the upside potential on this penny stock price is highly attractive for those with an appetite for risk.

Buy INPX Shares on eToro

68% of retail investor accounts lose money when trading CFDs with this provider.

4. Nano Dimension - One of the Best Stocks to Invest in 2022 for Risk/Reward Ratio

Next up on our list of the best penny stocks to buy right now is Nano Dimension. Although the firm is based out of Israel - Nano Dimension stocks are available to buy via the NASDAQ exchange.

The firm specializes in the manufacturing of semiconductors and electronic components, which are both niche industries in high demand. In terms of its share price action, this penny stock has dropped in value by over 74% and 94% in the prior one and five years, respectively.

On the flip side, this allows you to buy Nano Dimension shares at a hugely discounted entry price. Finally, the firm is trading with a market capitalization of just under $1 billion as of writing. As such, Nano Dimension is one of the most promising stocks to keep an eye on this year.

Buy NNDM Shares on eToro

68% of retail investor accounts lose money when trading CFDs with this provider.

5. Gevo - Penny Stock Offering an Alternative to Gasoline

Another penny stock to consider for your portfolio is Gevo. This US-based company - which was founded as recently as 2005, specializes in alternative energy sources.

As such, the firm’s primary objective is to reduce greenhouse gas emissions via clean and renewable energy sources. In terms of its stock price action, Gevo is traded at just $3.38 per share as of writing.

Over the prior 12 months, the stocks are down a whopping 75%. However, the firm is only at the very start of its renewable energy journey, so entering the market now will yield a highly attractive entry price.

Buy GEVO Shares on eToro

68% of retail investor accounts lose money when trading CFDs with this provider.

How to Buy Stocks With the Most Potential

Once you have assessed which penny stocks to watch for your portfolio, you can proceed to make a purchase with your chosen stock broker.

How to Buy Lucky Block

As noted earlier, although Lucky Block isn’t a penny stock, this crypto asset offers many of the same characteristics in terms of upside potential.

Here’s how to buy Lucky Block tokens right now via the Pancakeswap exchange.

  • Step 1: Get Trust Wallet App - The easiest way to buy Lucky Block is via Trust Wallet - which gives you access to PancakeSwap. You can download the Trust Wallet app for free via Google Play or the App Store.
  • Step 2: Buy BNB - To buy Lucky Block, you need to have some BNB tokens. The reason for this is that Lucky Block is traded against BNB on the Pancakeswap exchange. You can buy BNB in less than 10 minutes with a debit/credit card via Trust Wallet.
  • Step 3: Visit PancakeSwap - If you have BNB in your Trust Wallet, you can now click on ‘DApps’ followed by ‘Pancakeswap’.
  • Step 4: Contract Address - Copy the Lucky Block contract address from the project’s website and paste it into PancakeSwap. This ensures that you are purchasing the correct token.
  • Step 5: Buy Lucky Block - You now need to enter the number of BNB tokens that you want to exchange for Lucky Block. Then, click on the ‘Swap’ button and confirm the transaction.

Buy Lucky Block Now

Cryptocurrency markets are highly volatile and your investments are at risk.

The final step is to head back to your main Trust Wallet interface and click on ‘Add Custom Token’. Then, re-paste the Lucky Block contract address. In doing so, you will now be able to view your Lucky Block investment in real-time.

For a more detailed walkthrough of how to buy Lucky Block, read our in-depth guide.

How to Buy Stocks on eToro

If you are looking to buy penny stocks in the traditional sense, the likes of Kosmos Energy, Inpixon, Nano Dimension, and Gevo can all be purchased at eToro on a 0% commission basis and with a minimum of just $10.

  • Step 1:Open eToro Account- You will first need to open a brokerage account via the eToro website. In addition to your basic personal information and contact details, choose a username and password.
  • Step 2: KYC - Before you can deposit funds into your eToro account, you need to get yourself verified. You can do this instantly by providing eToro with a clear copy of your driver’s license or passport.
  • Step 3: Deposit Funds - Now it’s time to deposit at least $10 into your eToro account. Supported payment methods include Visa, MasterCard, Paypal, ACH, and more. USD deposits attract no fees.
  • Step 4: Search for Penny Stock - In the search bar, you can now enter the name of the penny stock that you are planning to buy. Then, when you see the penny stock appear, click on the ‘Trade’ button.
  • Step 5: Buy Penny Stocks - Finally, to buy your chosen penny stocks, let eToro know how much money you wish to invest (from $10) before clicking on the ‘Open Trade’ button.

Conclusion

This article has discussed five of the best penny stocks to buy now for your portfolio.

Regardless of which penny stock you want to buy, eToro allows you to invest on a commission-free basis.

Most importantly, you only need to risk $10 to buy penny stocks at eToro.

Buy Penny Stocks on eToro

68% of retail investor accounts lose money when trading CFDs with this provider.

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