Best Penny Stocks Under 10 Cents

Depending on the prospects for these businesses, these stocks could make a good speculative investment, but you should remain aware of the risks involved in owning any penny stock.

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Contributor, Benzinga
April 25, 2022

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Medical Marijuana (OOTC:MJNA)

Medical Marijuana Inc is engaged in the development, sale, and distribution of hemp oil that contains naturally occurring cannabinoids, including cannabidiol and other products containing CBD-rich hemp oil. The company’s products are used by pharmaceutical, nutraceutical, and cosmeceutical industries. Some of its products are CBD Capsules, CBD Tinctures, Vaporizers, and Hemp foods among others.

Medical Marijuana
(OOTC:MJNA)
$0.0140
Last update: 3:59PM
Day Range- - -
52 Wk Range0.01 - 0.03
Open / Close- / -
Vol / Avg.- / 4.7M
Mkt Cap-
P/E-
Div / Yield-
Payout Ratio-
Total Float-

Caduceus Software Sys (OOTC:CSOC)

Caduceus Software Systems is a development stage company that previously focused on products for the fishing industry, later transitioning to storage and software solutions for healthcare. Today, under new leadership, Caduceus sells thermocouplers and specialty products for HVAC systems.

Speculators have bid up CSOC stock over recent sessions. However, you should know that Caduceus only has limited financial disclosures, making this a true gamble.

Caduceus Software Sys
(OOTC:CSOC)
$0.0408
Last update: 3:44PM
Day Range- - -
52 Wk Range0.02 - 0.06
Open / Close- / -
Vol / Avg.- / 173.5K
Mkt Cap-
P/E-
Div / Yield-
Payout Ratio-
Total Float-

Virtual Medical Intl (OOTC:QEBR)

Virtual Medical International Inc is engaged in the business of medical grade CBD oil production and distribution.

Virtual Medical Intl
(OOTC:QEBR)
$0.0059
Last update: 2:05PM
Day Range- - -
52 Wk Range0 - 0.02
Open / Close- / -
Vol / Avg.- / 51K
Mkt Cap-
P/E-
Div / Yield-
Payout Ratio-
Total Float-

Harvest One Cannabis (OOTC:HRVOF)

Harvest One Cannabis Inc is an early-entry global cannabis company. It services the medical and recreational cannabis markets, in Canada and internationally. The firm serves as the umbrella company over United Greeneries, Satipharm AG, Dream Water, and Delivra.

Harvest One Cannabis
(OOTC:HRVOF)
$0.0277
Last update: 12:26PM
Day Range- - -
52 Wk Range0.01 - 0.06
Open / Close- / -
Vol / Avg.- / 34.8K
Mkt Cap7M
P/E-
Div / Yield-
Payout Ratio-
Total Float-

Fiore Cannabis (OOTC:FIORF)

Fiore Cannabis Ltd is engaged in the production and cultivation of medicinal and recreational cannabis. Also, the company is engaged in the business of hemp-seed oil and skin products. Its brands are Fiore, Purecloud9, Diamantelabs, Surfer, and The Weekender. The company’s geographical segments are Canada and United States.

Fiore Cannabis
(OOTC:FIORF)
$0.015
Last update: 3:46PM
Day Range- - -
52 Wk Range0.01 - 0.06
Open / Close- / -
Vol / Avg.- / 103.2K
Mkt Cap2.5M
P/E-
Div / Yield-
Payout Ratio-
Total Float-

The best part of investing in penny stocks consists of the fixed amount of risk you need to take upfront to purchase the stock and the risk-reward ratio of the investment. Buying cents per share might seem risky since many stocks trading at that level are on their way to oblivion. Returns can grow quickly if the stock ultimately begins to climb. 

If you catch onto a penny stock during someone else’s “pump and dump” scheme, you can make money if you buy quickly and sell before the price drops. Penny stocks can also help you increase the net worth of your portfolio if you have very little money to spend. The first step in a long journey is a single step, and penny stocks might be your first step.

Also, by acquiring a block of stock at such a low price, you always know just where you stand with the risk involved since the lowest the stock can go is $0 and that isn’t far away.  The top 10 penny stocks on the market, then, are a good entry point for the market and can result in increasing profits. Choosing a couple penny stocks to buy now can increase diversity in your portfolio while also reducing risk. Think of these stocks as a way of testing the market.

Overview: Stocks Under 10 Cents

Once you’ve decided to put some money at risk, research the penny stock market for companies with recent news and interesting products or services. Keep in mind that these stocks have an extremely speculative nature, so as a rule of thumb, don’t put any money at risk you can’t afford to lose. 

Because of listing requirements, most penny stocks do not trade on the NASDAQ or other major exchanges, unless the company’s exchange-traded stock has recently failed to meet listing requirements. Trading in these assets is mostly done through the OTC Markets Group. Quotes for penny stocks have traditionally been listed in the “pink sheets,” a quotation publisher that originally published the quotes on pink-colored paper. 

Keep in mind that due to the nature of these stocks, spreads can be wide with a minimum trading block of 10,000 or 100,000 shares in many cases, depending on the stock and the broker. Despite all the risks, the rewards can be considerable, with 1-day returns in the hundreds of percent in some cases.   

Best Online Brokers for Stocks Under 10 Cents

Many online brokers accept orders for stocks under 10 cents. However, be aware that most brokers charge commission for OTC Market stock trades—whether they are among the top 10 penny stocks or not. Interactive Brokers offers Pink Open Market and OTC Market trading for selected stocks in its standard stock trading account and charges a fixed and a tiered rate.

Other online brokers with penny stocks to buy now include TD Ameritrade, Charles Schwab Corp., ChoiceTrade, TradeStation and Zacks Trade. Commissions vary for each broker, from no-commission to $0.01 per share. Some brokers tack on a surcharge while others have a share quantity minimum depending on the stock. Call your broker for more details on penny stock trading.  

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Features to Look for in Stocks Under 10 Cents

  • Product and potential future earnings: Due to the minimum listing standards, many penny stocks might be hard to research. Research your potential purchases as much as possible so you know you’re investing in a real company with a viable product or service. You’ll also make sure there’s potential for decent future earnings per share. Keep in mind that the penny stock market is rife with scams, so learn to avoid them. 
  • Assets and liabilities: Study the company’s financials for assets and other tangibles that might make the stock an asset play, which means that stockholders might benefit from a liquidation of the company’s assets. If the company is laden with liabilities, stockholders may not be entitled to the proceeds of the sale of company assets. 
  • Liquidity: Because of their low price and speculative nature, penny stocks could be hard to sell once you’ve acquired a relatively large position. Liquidating a large position in an illiquid market could wind up costing you most of your profits. Dealing in the top 10 penny stocks with an active and deep market seems best if you plan on taking large positions. 

Should You Invest in the Top 10 Penny Stocks?

The answer to this question depends on your goals as an investor or speculator and your pain threshold when it comes to risk tolerance. The first and foremost consideration before jumping into the penny stock market is if you can afford to lose your entire investment. 

If you answered “no,” you’d probably be better off buying the stock of more established companies such as stocks under $20, stocks under $10 and stocks under $5 that meet your needs. With that said, profits from choosing penny stocks to buy now can significantly surpass gains in other investments if you pick the right securities. 

Above all else, research mitigates risk. While you should not invest in anything that you feel uncomfortable with, research increases your comfort level. Over time, you will feel much more comfortable with investments that you might not have understood when you started — that could include penny stocks.

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