Best Penny Stocks

Last Updated on June 15, 2022
Best Penny Stocks

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Everyone has to start their stock trading journey somewhere. Some people start by investing in big industries and companies that have seen nothing but growth for ten years. Many people try day trading, trying to catch stocks as they make small changes throughout the day. But there is another way.

Trading penny stocks is a great place to start if you are new to stock trading. This is because it’s very much like normal day trading, but on fast forward. Everything in penny stocks happens much faster than it does with normal stocks. This means you do not need as much patience to get results.

But perhaps more importantly, you also do not need a huge amount of capital to get started trading penny stocks. We’re getting ahead of ourselves though. What is a “penny stock”?

What is a Penny Stock?

Penny stocks have a specific definition: Any stock valued under five dollars per share is a penny stock. 

This is important, as it should dispel a few presumptions people have about penny stocks. For instance, penny stocks do not have to be valued at “a few pennies” per share. This perception circulates broadly and rapidly, but you can probably see why its lack of precision can become a problem for people.

If the penny stock label was attached to a stock that traded for “a few pennies”, what would the exact number of pennies be? Five? Ten? Having a specific price for the definition of the term is important. Only once the price is specific can it be regulated. The $5 price was chosen for that reason.

Penny stocks also do not exclusively return yields in pennies. It is likely they will, but that is a matter of your size of investment as much as it is a matter of the stock’s value appreciating within a given time.

10 Best Penny Stocks Canada in 2022

  1. Crew Energy Inc. – Best Overall Penny Stock
  2. Aurora Cannabis – Best Cannabis Penny Stock
  3. Northern Dynasty Minerals – Best Penny Stock Worth Less Than a Dollar
  4. Hive Blockchain Technologies – Best Blockchain Penny Stock
  5. IAMGOLD Corporation – Best Gold Penny Stock
  6. Exro Technologies – Best Green Energy Solutions Penny Stock
  7. Taseko Mines Limited – Best Commodity Harvester Penny Stock
  8. Ventripoint Diagnostics – Best Medical Penny Stock
  9. Petrus Resources – Best Property Penny Stock
  10. Chorus Aviation – Best Domestic Transportation Penny Stock

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