Moneyzine
/Investment Guides /New Penny Stocks

New Penny Stocks to Buy

In this comprehensive guide, we list the best 10 new penny stocks you can invest in today along with presented the best platforms to trade them with.
Martynas Pupkevicius
Author: 
Martynas Pupkevicius
Muze Hasan
Editor: 
Muze Hasan
14 mins
February 26th, 2024
Advertiser Disclosure

The Best Platform to Trade New Penny Stocks

TradeStation6.5Visittradestation.com

New Penny Stocks at a Glance

  • Hour Loop - Overall new cheap penny stock

  • HeartCore Enterprises - Best new penny stock for beginners

  • TC BioPharm - Best new penny stock with the biggest number of hedge fund holders

  • Blue Water Vaccines - Best new penny stock with the largest market cap

  • Rail Vision - Best new penny stock for new investors

  • Expion 360 - Best new penny stock with the highest upside

  • Aclarion - Best new penny stock for ethical investing

  • Heart Test Laboratories - Best new penny stock with the biggest price

  • Nexalin Technology - Best new penny stock with the largest trading volume

  • Atlis Motor Vehicles - Best new penny stock for advanced investors

Penny Stock

Code

Price (closing price of 30 Jan 2023)

Market Cap

Hedge Fund Holders

Hour Loop

NASDAQ: HOUR

$3.00

$105.143 million

6

HeartCore Enterprises

NASDAQ: HTCR

$1.12

$19.768 million

4

TC BioPharm

NASDAQ: TCBP

$5.10

$4.036 million

6

Blue Water Vaccines

NYSEARCA: BWV

$1.29

$19.96 million

20

Rail Vision

NASDAQ: RVSN

$1.28

$20.347 million

4

Expion 360

NASDAQ: XPON

$1.89

$12.857 million

7

Aclarion

NASDAQ: ACON

$0.695

$5.437 million

10

Heart Test Laboratories

NASDAQ: HSCS

$0.87

$7.144 million

6

Nexalin Technology

NASDAQ: NXL

$1.12

$8.142 million

2

Atlis Motor Vehicles

NASDAQ: AMV

$3.19

$128.8 million

4

New Penny Stocks: An Overview of the Best Penny Stocks

Hour Loop - New cheap penny stock

Hour Loop was founded in 2013 with headquarters in Redmond, Washington. It’s an online retailer involved in e-commerce in the United States that hit the public markets on Jan 7th of 2022. The company sells home/garden decor, electronic products, kitchenware, and apparel through walmart.com, amazon.com, and hourloop.com.

The new penny stock has an average trading volume of around $45K, and the 1-year price target is $5.00, which represents an upside of 66.67%. Therefore, it’s a good investment opportunity among most penny stocks

HeartCore Enterprises - Best new penny stock for beginners

HeartCore Enterprises is a software development company that provides Saas (Software as a Service) solutions to Japanese and international enterprises. It was founded in 2009 with headquarters in Tokyo, Japan. Their products include services in the areas of content management systems, service, sales, and marketing. HeartCore Enterprises is one of the penny stocks to watch in 2024.

This new penny stock was first released on Feb 10th, 2022, and has an average trading volume of around $200K. Its 12-month price outlook is $2.50, which is an upside of 123.21%. Therefore, the stock has the potential to provide a good return for investors. Investing in penny stocks can potentially yield high returns, but it is also a speculative and risky investment strategy. Penny stocks are shares of small companies with low market capitalization and are traded at a low price. Although some investors have made significant profits by investing in penny stocks, it is important to research them carefully, be prepared for potential risks, and diversify your portfolio to avoid relying solely on them or any other single investment strategy. If you're willing to invest less than 1$ per stock we have developed a list of best stocks under 1$.

TC BioPharm - Best new penny stock with the biggest number of hedge fund holders

TC BioPharm is a clinical-stage biopharmaceutical company with a focus on developing immunotherapy products. The firm was established in 2013 with its main headquarters in Motherwell, United Kingdom. One of the products in the pipeline is Omnlmmune, which helps treat Acute Myeloid Leukaemia.

The new penny stock was released on February 11th of 2022. At the time of writing, it had an average trading volume of $ 5.733 million, so it has a lot of potential for investors. TC BioPharm is one of the penny stocks to watch in 2024.

Blue Water Vaccines - Best new penny stock with the largest market cap

Blue Water Vaccines is a biopharmaceutical company with a focus on the development of transformational vaccines. The upside of the company comes from the holding of rights to proprietary technology developed at the University of Oxford and Cincinnati Children’s Hospital Medical Center.

This new penny stock was released on Feb 18th, 2022, and the average daily trading volume is around $200K. The stock has a 1-year price target of $5.50, which is an upside of 326.36%. Therefore, investors may potentially have big returns if the company develops in the right direction. This makes Blue Water Vaccines a good choice to trade penny stocks and enrich your investment portfolio with this top penny stock. While it is possible to get rich trading penny stocks, it is important to remember that there are significant risks involved. Penny stocks are highly volatile. Therefore, it is not a reliable or guaranteed way to get rich. In the market, the cheapest penny stokes can be also found for less than 2$.

Rail Vision - Best new penny stock for new investors

Rail Vision was incorporated in 2016 with headquarters in Ra’anana, Israel. It is a railway detection systems company that promotes predictive maintenance, efficiency, and operational safety in Israel. Its products include thermal cameras, visible light spectrum cameras, and optics.

Rail Vision also works towards improving the durability of onboard computer systems so they can operate in the rough environment of a locomotive.

The new penny stock entered NASDAQ on March 31st, 2022 with an average trading volume of around $55K. Analysts agree that RVSN is a must-buy because the stock is expected to increase during the next 12 months.

Expion 360 - Best new penny stock with the highest upside

Expion360 came into existence in 2016 with headquarters in Redmon, Oregon. It specializes in assembling and manufacturing lithium iron phosphate batteries. The application of the batteries covers several industries, including residential, industrial, golf, marine, and recreational vehicles.

The penny stock was released as an IPO on April 1st, 2022, with an average trading volume of around $276k. Additionally, the stock is predicted to increase in price over the next year.

Aclarion - Best new penny stock for ethical investing

Aclarion was founded in 2008 with headquarters in San Mateo, California. It is a healthcare technology company that provides software apps for United States-based magnetic resonance spectroscopy. Its evidence-supported solutions help physicians distinguish between painful and non-painful spine discs. Aclarion is one of the penny stocks to watch in 2024

The new penny stock was released as an IPO on April 22nd, 2022, with an average trading volume of around $24K. This stock is predicted to reach $3 within the next year, representing an increase of 331.59%. This makes Aclarion a good choice to trade penny stocks.

Heart Test Laboratories - Best new penny stock with the biggest price

Heart Test Laboratories was founded in 2007 with headquarters in Southlake, Texas. It is a medical technology company that offers cardiovascular diagnostic devices which help in detecting cardiac dysfunction and offer information on the 12-lead resting ECG. Haert Test Labaratories is one of the top penny stocks in the market.

Their devices are used in hospitals, urgent care centres, doctor’s offices and clinics.

The Peny stock was released on NASDAQ on June 15th, 2022 and it has an average trading volume of around $33K. Also, the 12-month price target for the stock is $3, which is an upside of 244.79%.

Nexalin Technology - Best new penny stock with the largest trading volume

Nexalin Technology is a medical device company incorporated in 2021 with headquarters in Houston, Texas. It designs and develops neurostimulation products to treat mental health patients in China and the United States.

It focuses on alleviating insomnia and anxiety with its drug-free and non-invasive therapies.

This new penny stock was launched on September 16th, 2022, and the average trading volume is around $44K. Keep an eye on the news about the products Nexalin Technology offers to see if positive developments occur. This makes Nexalin Technology a good choice to trade tech penny stocks.

Atlis Motor Vehicles - Best new penny stock for advanced investors

Atlis Motor Vehicles is an electric truck manufacturer that was incorporated in 2016 with headquarters in Mesa, Arizona. It supplies the charging station infrastructure and the setup includes a superior battery technology solution, a pickup truck, and an advanced charging station.

This new penny stock launched on September 27th, with an average trading volume of $1.59 million, reflecting the hype around electric vehicles. Also, the speculators suggest the 1-year price target is $15, which is an upside of 370.22%.

Where Do I Buy New Penny Stocks?

Here are a couple of the leading trading platforms that allow penny stock trading.

TradeStation - Best Platform for Research Amenities

TradeStation consistently ranks as one of the best stock trading platforms and has won industry awards. It is headquartered at Plantation in Florida. The platform’s highlights include an intuitive user interface, quick trading, and a highly-rated mobile app that allows you to trade on the move, especially penny stocks. The platform offers some of the best research and technical analysis tools in the industry, enabling beginners to use market insights, community forums, and webinars to improve their trading skills in penny stocks trading.

Account minimum deposit

No minimum

Commission

0%

Options

$0.60 per contract

Real-Time Market Data

Free

KYC Required

Yes

Demo Account

Yes

Price

Free

Investment types

Stocks, ETFs, Futures, Securities

App

Yes

Fidelity - Best for Advanced Traders

Fidelity was founded by Edward C. Johnson II with headquarters in Boston, Massachusetts. It is one of the best new penny stocks trading platforms since you can participate in all new IPOs. Users need to complete at least 36 trades within 12 months to access the Fidelity Active Trader Pro platform. This tool offers some of the best research and analysis tools on the market that will help you with investing in penny stocks.

It is a good choice for traders looking for new penny stocks to trade and expecting higher returns. We recommend you sign up for an account to test the feature and execute trades using the demo version. On a further note, Penny stocks are often referred to as "cheap stocks" because they are typically traded at a low price, often less than $5 per share. This is because penny stocks are shares of small companies with low market capitalization and are considered to be less established and less well-known than larger, more established companies. This makes one of the reasons why penny stocks are referred to as cheap stocks.

Account minimum deposit

No minimum

Commission

0% for online US stock trades

Margin Rates

Starts at 8.25%

Stock Certificate Transfer and Ship

$100

KYC Required

Yes

Demo Account

Yes

Price

Free

Investment types

Stocks, ETFs, Futures, Stocks & Shares

App

Yes

What Are New Penny Stocks and How Do They Work?

Penny stocks can be defined as stocks trading under $5 in the US. These low-priced stocks are usually related to small or new companies in active development.

Online brokerage accounts allow traders to buy and sell new penny stocks, but there is a fee for the service. It’s important to find a competitively priced broker to avoid paying fees that reduce the profitability of penny stock trading.

Additionally, you can also invest in new penny stocks by using finance or investment platforms that will help users find investable stocks for purchase. These platforms make it easier to buy penny stocks.

Advantages and Disadvantages of Trading New Penny Stocks

Though convenient and attractive at first, penny stocks trading is a risky venture – traders need to understand the risks and benefits involved from the get-go;

  • Affordability – The most obvious advantage of penny stocks is the low cost. It’s possible to buy a bulk of shares for a very little amount of investment.
  • Potential for Growth – Once in a blue moon, penny stock companies blossom into blue chip outfits, like Apple or Amazon.com. While it’s a very rare occasion, some penny stock purchases may prove to be lucrative in the long haul.
  • Funding Small Cap and Newer Companies – When traders invest in penny stocks, they essentially help raise money for companies that have just started or in their development phase.

How Much Money Do You Need to Get Started with New Penny Stocks?

With the majority of trading platforms lowering or completely scrapping their minimum deposit requirements, $100 can be enough to start with active penny stocks. Choosing a smaller amount is a good idea for novice traders who wish to learn how to use trading tools, to begin with. However, your potential upside is related to how much is invested, so you may want to increase your budget once you find an investable penny stock and a suitable platform.

Additionally, you can get started for free with a demo account to practice trading before using real money.

Is It Safe to Trade New Penny Stocks?

New penny stocks are among the riskiest types of investment you can make because the companies behind the stock are unproven. Therefore, you need extensive research before trading a new penny stock to put the odds in your favor.

However, you don’t need to worry about the safety of your financial account while trading on trusted stock trading websites such as Robinhood, TradeStation, and Charles Schwab. You can trust these companies as they operate under tight regulations from US Government agencies.

FAQs

What is the best stock trading platform for beginners?
What is the best stock trading platform?
How do I teach myself to trade stocks?
Which investment platform is best for stock traders?
What are the best trading platforms like Robinhood?
What are the best trading platforms for IRA Rollover?
What is an OTC trading platform?

Related Content

  • Missed Nvidia's Rally? There's More Than Just NVDA
    To say that NVDA has been rallying is an understatement. NVDA's more like Elon Musk, high on cocaine in a toga and tied to one of his rockets to Mars. Did you miss the rally? You're not alone - and don't think that profit takers won't be looking for other plays in the AI space.
    February 27th, 2024
  • How to Invest in VTI and How to Buy VTI in Vanguard
    Wondering how to buy VTI? And do you need a Vanguard account to buy VTI? These are common questions for new investors that either aren't familiar with ETFs, or they're just having trouble navigating Vanguard's website (and I don't blame you for that! I still get lost on their site once in a while!).
    April 17th, 2024
  • Intelligent Bio Solutions Inc. is a life sciences company, founded in 2016 with headquarters in New York and is engaged in performing diagnostic tests, real-time monitoring, and non-invasive surgery for its patients. The firm has developed a CoV-2 Biosensor, which can be used in RNA virus detection.
    February 26th, 2024
  • This comprehensive guide to the cheapest penny stocks will give you the walkthrough of the top 10 best low-cost securities you can trade today, along with the leading trading platforms you can use. We understand that it can take a long time to research the best options, so we have made an attempt to save your time by performing all the research.
    November 11th, 2024

Contributors

Martynas Pupkevicius
Martynas is a seasoned freelance writer that has written on a broad range of topics over his 10 year career. He enjoys diving into the research and sharing what he's learned with readers.
Muze Hasan
Muze is an experienced technical writer with vast cross-industry experience writing for Blockchain, Cryptocurrency, NFT, and Metaverse. He has written 100+ whitepapers, launched 10+ projects that have raised more than $30M in capital.
Moneyzine 2024. All Rights Reserved.