What are the Top 10 Penny Stocks with the Biggest Price Movements?

Introduction

Penny stocks are often viewed as high-risk investments due to their low price and volatility. However, some penny stocks have seen significant price movements, making them attractive to investors looking for potential gains. In this article, we will take a closer look at the top 10 penny stocks with the biggest price movements and explore what factors have contributed to their success.

Stock 1: GameStop Corporation (GME)

GameStop is a video game retailer that saw a massive surge in its stock price in early 2021 due to ashort squeezeorchestrated by Reddit users. The stock went from around $20 per share in early January to over $400 per share in late January, before eventually settling around $200 per share. While the short squeeze was the primary driver of the price movement, GameStop also announced a new board member with experience in e-commerce, which may have fueled investor optimism.

Stock 2: AMC Entertainment Holdings Inc. (AMC)

AMC is a movie theater chain that also saw a surge in its stock price in early 2021 due to a short squeeze. The stock went from around $2 per share in early January to over $20 per share in late January, before eventually settling around $10 per share. Similar to GameStop, the short squeeze was the main driver of the price movement, but AMC also announced a new debt restructuring plan that may have contributed to investor optimism.

Stock 3: NIO Inc. (NIO)

NIO is a Chinese electric vehicle manufacturer that has seen significant price movements in the past year. The stock went from around $3 per share in March 2020 to over $60 per share in January 2021, before eventually settling around $35 per share. The company has benefited from the growth of the Chineseelectric vehicle marketand has announced plans to expand into Europe.

Stock 4: Plug Power Inc. (PLUG)

Plug Power is a hydrogen fuel cell company that has seen significant price movements in the past year. The stock went from around $3 per share in March 2020 to over $70 per share in January 2021, before eventually settling around $25 per share. The company has received a lot of attention due to its partnerships with major companies like Walmart and Amazon, as well as its plans to expand into the European market.

Stock 5: Tesla Inc. (TSLA)

Tesla is a well-known electric vehicle manufacturer that has seen significant price movements in the past year. The stock went from around $400 per share in March 2020 to over $800 per share in January 2021, before eventually settling around $550 per share. The company has benefited from the growth of the electric vehicle market and has announced plans to expand into new markets like India.

Stock 6: FuelCell Energy Inc. (FCEL)

FuelCell Energy is a fuel cell company that has seen significant price movements in the past year. The stock went from around $2 per share in March 2020 to over $20 per share in January 2021, before eventually settling around $6 per share. The company has benefited from the increased focus onclean energyand has announced partnerships with major companies like ExxonMobil and Toyota.

Stock 7: Advanced Micro Devices Inc. (AMD)

AMD is a semiconductor company that has seen significant price movements in the past year. The stock went from around $40 per share in March 2020 to over $90 per share in January 2021, before eventually settling around $75 per share. The company has benefited from the growth of the gaming and data center markets and has announced plans to acquire rival semiconductor company Xilinx.

Stock 8: Riot Blockchain Inc. (RIOT)

Riot Blockchain is acryptocurrency miningcompany that has seen significant price movements in the past year. The stock went from around $1 per share in March 2020 to over $70 per share in January 2021, before eventually settling around $20 per share. The company has benefited from the growth of the cryptocurrency market and has announced plans to expand its mining operations.

Stock 9: Canaan Inc. (CAN)

Canaan is a Chinese cryptocurrency mining company that has seen significant price movements in the past year. The stock went from around $1 per share in March 2020 to over $30 per share in January 2021, before eventually settling around $10 per share. The company has benefited from the growth of the cryptocurrency market and has announced plans to expand its mining operations.

Stock 10: Zomedica Corp. (ZOM)

Zomedica is a veterinary diagnostic company that has seen significant price movements in the past year. The stock went from around $0.20 per share in March 2020 to over $2 per share in January 2021, before eventually settling around $0.50 per share. The company has announced plans to launch new diagnostic products and has received FDA approval for some of its products.

Conclusion

While penny stocks can be risky investments, some have seen significant price movements that have attracted investors looking for potential gains. Factors like short squeezes, partnerships with major companies, and growth in new markets have contributed to the success of these stocks. However, it's important to do your own research and consider the risks before investing in any penny stock.