The Most Active Penny Stocks 2023

Penny stock trading is a high-risk and high-reward investment option. Trading with the most active penny stocks guarantees better liquidity and volatility. However, it is paramount to choose the right platform for trade execution.

This article provides a comprehensive overview of the active penny stocks in 2024, cheap penny stocks, and the right platform to choose for penny stock trading.

The Active Penny Stocks at a Glance

Here’s a list of the top active penny stocks in 2024.

Pros and Cons of Trading Very Active Penny Stocks

Active stocks penny stocks see considerable trading volume. Here are some benefits and drawbacks of trading the active penny stocks.

NU Holding Ltd

NU Holding is a company providing digital banking services in Brazil, Colombia, and Mexico. It was founded in 2016 by David Velez, Adam Edward, and Christina Helena and is headquartered in Sao Paulo, Brazil. The platform provides customers with a digital platform to manage financial activities such as investing and insurance.

The stock performance of the last year was -46.01% and YTD was 23.1%. Moreover, the company’s stock 52-week range is $3.26-$11.83..

Opendoor Technologies

Opendoor technologies is an American company operating a digital real estate platform for buying and selling homes and also covers insurance and escrow services.

The stock has seen huge price swings, moving between $0.9 - $11. Financial reports for the second quarter of 2022 show revenues of $4.2 billion. This was a 254% jump compared to results from a similar period in 2021. However, the net loss for the company totaled $54 million.

The company looks to expand aggressively into new regions. Revenues are also expected to grow, which is expected to reflect when the company releases its full-year results.

Innovative Eyewear

Innovative Eyewear develops and retails smart glasses and eyeglasses. It was founded in 2019 with headquarters in North Miami, Florida, and operates as a subsidiary of Lucyd Limited.

According to its Q3 2022 financial results, the company saw a net loss of $1.4 million. The loss widened by 38% compared to 3Q 2021. This translated to a $0.21 loss per share.

The stock saw 52-week highs of $7 and lows of $0.7. The stock has been rising due to recent tie-ups with leading eyewear distributors, product launches, research, and development.

FuelCell Energy

FuelCell Energy is working towards manufacturing stationary fuel platforms which produce hydrogen. The company was formed in 1969 with headquarters in Dansbury and delivers clean energy solutions to help organizations and communities meet their net-zero commitments.

This manufacturing firm saw sales grow by 88% to $130.5 million in 2022. However, the company was not profitable, with investors losing $0.38 per share. Its 1-year performance was -23% and YTD of 33.45%.

The company insists that it's working on many projects with the potential of transforming its fortunes. Its stock has witnessed highs of $7.3 and lows of $2.47 in a 52-week range.

Mullen Automotive

Mullen Automotive is an electric vehicle(EV) manufacturer based in Brea, California, formed in 2010. It makes commercial and passenger vehicles.

The company’s share has plunged by 77.4% in the past 12 months with YTD +36.71%. The share has seen highs of $4.17 and lows of $0.18 in the past 52 weeks, which shows the upside potential of the share. The average trading volume of this stock is 216.8M.

FuboTV Inc

FuboTV is a sports-centric, live-streaming organization offering customers access to live sports events via a subscription-based model. The company was established in 2009 by David Gandler, Sung Ho Choi, and Alberto Suarez with headquarters in New York.

Customers can access content across multiple devices, such as mobile phones and smart TVs.

FuboTv's lowest share price was $1.61, and its highest was $11.89 in the past 12 months. The company saw revenue of $224 million in the third quarter of 2022 and operating losses of $150 million. This translated to a $0.82 loss per share.

The stock continues to see high volumes as investors wait for the next quarterly earnings report release.

Ginkgo Bioworks Holdings

Ginkgo Bioworks is a cell programming platform formed in 2009 with headquarters in Boston, Massachusetts, using biological processes for production. Products include food ingredients, chemicals from petroleum, and novel therapeutics.

The company reported a loss of 68.23% in the last year with YTD performance of +8.28%. Its 52-week range was between $1.45 and $6.3 and a beta of 2.38.

It is currently increasing the number of products and building its customer base. The business model puts the company in a unique position, working with public health and the US intelligence community.

Faraday Future Intelligent Electric Holdings

Faraday Future(FF) Intelligent Electric is an American startup developing a shared intelligent mobility ecosystem. The company was established in 2014 and has headquarters in Los Angeles with other offices in China. It aims to provide solutions across the AI, IT, creativity, and the auto industry.

Faraday’s stock is currently trading under a dollar, down from highs of $19. The company has not been able to generate any revenue because it has not produced any vehicles yet due to production issues. Its net losses were estimated at $103 million during the three months that ended September 2022.

Activity on FF’s share is significant due to several positive factors that will likely see the company ship its first vehicle in 2023.

Lufax Holding

Lufax is a leading personal finance and wealth management digital platform operating in China.

Its 52-week range falls between $1.26 and $7.05 with a beta trading volume of 1.11. The P/E ratio of Lufax stock is 3.44. The company’s stock performance of the last 1-year was -52.6% and YTD of 41.24%.

The company has shown the ability to retain customers and grow. Chinese company stocks have witnessed volatility recently, with prices rising at times, making them popular with US investors.

Elys Game Technology

Elys game technology is a Sports betting and iGaming full-service platform. The company was formed in 1998 and has headquarters in Las Vegas, Nevada. Their service is regulated for B2B and B2C markets with footprints in North America, Europe, and the entire world.

Last year’s performance was negative by 70.91%, but with high YTD i.e. +242.86%.The company has already achieved profitability in Europe ahead of schedule.

The company expects an exciting 2023, having locked in 100 signed host locations in Ohio. It has also finalized a partnership with Lottomatica.

The Top Platforms for Trading Active Penny Stocks

Fidelity - Best for Advanced Active Penny Stock Trading

Fidelity provides an advanced platform full of useful features for stock trading, enabling penny stocks traders to access news insight, tools, and educational materials. It has deployed smart technology to help traders make informed decisions.

The Fidelity app is intuitive and easy to use for traders in finding many penny stocks to trade on the go.

Charles Schwab - Best Overall for Trading the Active Penny Stocks

Schwab offers an extensive selection of penny stocks with a straightforward way to trade them. Investors can buy penny stocks using a standard brokerage account.

The trading platform packs powerful features, tools, education, and market insight that make it easy to trade in stocks and make informed decisions.

This broker has been around for a long time and has a solid reputation. It is licensed and regulated by FINRA which guarantees the coverage of losses in case of an unauthorized activity is seen on an account. In addition, Charles Schwab, renowned for its comprehensive financial services, offers one of the best day trading platforms, empowering investors with advanced tools and real-time data for successful trading endeavors.

The mobile app has over one million downloads on Android. The rating is above average, and customers believe that the app offers a good user experience.

TD Ameritrade - Best for User Experience

TD Ameritrade offers an easy-to-use yet powerful trading platform for penny stock trading. Traders can access these stocks through the OTCBB or pink sheet. The platform holds powerful features, including advanced stock screeners, technical analysis tools, charting, and backtesting capabilities. Also, TD Ameritrade is widely recognized as one of the best ETF platforms, offering a comprehensive range of investment options and user-friendly tools for investors.

The TD Ameritrade mobile app has over one million downloads on the Android play store. Customers recommend the app for its numerous assets, ease of use, and beginner friendliness.

What Are Active Penny Stocks and How Do They Work?

Penny stocks are common low-priced stocks that trade for less than $5 per share and are issued by unproven companies with low capitalization. Penny stock trading is volatile and unpredictable therefore, traders must do proper due diligence and market research before making any investment decisions. In addtion, active Penny Stocks offer exciting opportunities for investors seeking the potential for high returns, especially for those interested in the best stocks under $1.

Investors must open a brokerage account on a trading platform to trade penny stocks. It’s possible to open an account online with platforms like TD Ameritrade without going to a physical location.

Most platforms will charge you a fee per share for trading penny stocks. However, a platform like Fidelity allows you to buy and sell penny stocks without the standard fee. However, other charges still prevail.

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

Traders can sign up for accounts without any minimum balance. Traders with low capital can buy and sell penny stock easily. It’s possible to start trading with as little as $10, although OTC trading fees may apply.

The amount you decide to invest will depend on the stock, risk tolerance, financial goals, and capital availability.

Are Active Penny Stocks Platforms Safe?

Trading platforms, authorized and regulated by FINRA, can be considered safe. These official platforms ensure the safety of assets by segregating funds, using data encryption, and securing data. Charles Schwab is one of the safest platforms to trade active penny stocks.

Most platforms are part of the Securities Investor Protection Corporation(SIPC), which protects clients’ securities. Some providers, like Interactive Broker, also offer insurance cover for the securities they hold.

Trading platforms, however, are not without risks. Hacking and the risk of technical failures are inherent risks that are also common in trading platforms.

FAQs