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8 Penny Stocks That Became Billion Dollar Companies

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If Anyone Ever Tells You Penny Stocks Aren’t Worth It, Share This With Them

People like to recommend that you should not invest in penny stocks long-term. However, what they don’t tell you is that penny stocks can turn into true gold mine companies. It only takes due diligence on your part to identify strong penny stock companies and a little patience.

The advantage that comes with penny stocks growing is there is a lot more growth potential. This is compared to a company like Apple growing from where it is currently at. For it to move 100% or more, it would need to jump hundreds of dollars per share. With penny stocks, a move of $10 could be lifechanging.

Furthermore, if you really like a company, you can trade the best penny stocks short term and long term. This is advantageous because you can see big returns in a very minimal amount of time while you wait. Penny stock trading is an art form that many investors are attracted to. A common trend with successful penny stocks is that they produce real penny stock news, not just fluff or filler; so watch for that.

When you read the following examples of companies that became very strong, you will discover one thing about them. They were fundamentally strong, and they used that as a base to grow and develop into what they are now. Here are 8 companies that used to be the best penny stocks and have grown into billion-dollar companies:

Best Penny Stocks: Sirius XM Holdings Inc. (SIRI)

Sirius XM Holdings Inc. (SIRI Stock Report) is one of the world’s biggest audio and communication companies. It’s always been considered one of the giants in audio, but its addition of Pandora Radio elevated the company even more. The addition allowed the company to expand to an additional 100 million consumers with its products.

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Sirius XM has had a lot of news recently that has brought them a lot of attention. In the last month alone, the company has launched its Fish Mapping Service, Hollywood Studio Complex, and NFL podcast. All of these developments are adding a lot of diversity to the company’s expanding presence in entertainment.

Just under 10 years ago, Sirius XM’s stock was trading at only $0.60. The company’s stock use to be considered a very small penny stock but has grown over 965%. Sirius’s stock has had strong momentum since June of 2019, rising almost 20% alone and is trading at $6.33.

Best Penny Stocks: Accelerate Diagnostics Inc. (AXDX)

Accelerate Diagnostics Inc. (AXDX Stock Report) is a healthcare company that is primarily focused on solving the rising challenge of antibiotic resistance. In order to do this, they currently sell 2 products, Accelerate Pheno and Accelerate PhenoTest BC.

Recently, the company its results from the 3 clinical trials on its Accelerate Pheno system. One of the trials was conducted at the Mayo Clinic and UCLA. This trial found a statistically significant decrease in time antibiotic change for patients with Gram-negative blood infections.


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“These data, gathered across four diverse institutions and study designs, demonstrate that Pheno’s rapid ID and AST results lead to significant and potentially life-saving therapy optimization for patients with bloodstream infections,” stated Dr. Romney Humphries, Chief Scientific Officer at Accelerate.

As of now, the stock is trading at over $21 which is impressive when looking at the company’s growth. If you take the price of the stock 10 years ago, you will see that it was only trading at $0.84. The stock exploded between 2013 and 2014 skyrocketing out of penny stock prices. It is a prime example of what other healthcare penny stocks aim to achieve.

Best Penny Stocks: Patrick Industries Inc. (PATK)

Patrick Industries Inc. (PATK Stock Report) is a manufacturing company that creates products for homes, offices, and other buildings across the globe. The company boasts a strong portfolio of over 50 brands that diversify what Patrick Industries Is able to do.

Earlier this month, Patrick Industries announced that it was having a private offering of $300 million of senior notes. The offering was just closed, and the company is utilizing the proceeds to repay borrowings under its existing credit facility. It also used new borrowings from its new credit facility to help pay off some of the expenses.

The company’s growth does not seem to be faltering. It has beat its last 4 quarterly earnings projections and has improved its revenues consistently over the last 4 years. All of these compounding factors make it no surprise that the stock in 7 years jumped over 2000%. The stock was valued under $5 for over 12 years until it took off in 2012. Just under a decade ago, the stock was only valued at $1.08.

Best Penny Stocks: ACADIA Pharmaceuticals Inc (ACAD)

ACADIA Pharmaceuticals Inc (ACAD Stock Report) is a biotechnology company that specializes in improving the lives of patients with nervous system diseases. Currently, the only product they have on the market is called Nuplazid. Nuplazid is the only FDA approved medicine that treats hallucinations and delusions from Parkinson’s disease psychosis. The company also has 4 other treatments undergoing clinical trials.

The company recently announced a proposal for a public offering of common stock. The public offering will consist of 6.25 million common shares priced at $40 per share. The company is projecting that it will raise around $250 million from the public offering. Thanks to news revolving the company’s clinical trials, the stock continuously has a lot of momentum around it.

This stock broke out of the penny stock price range in early 2013. From there, it only took 2 and a half years for the stock to jump to $52. From that point, the stock had been trading sideways and got as low as $13.50. However, thanks to the public offering news, the stock is back above $40 with strong volume.

Best Penny Stocks: Vonage Holdings Corp. (VG)

Vonage Holdings Corp. (VG Stock Report) is a communications company that is providing communication solutions to improve how businesses interact. In order to develop these solutions, the company utilizes Nexmo, which is Vonage’s API Platform. Vonage believes that by improving the way a business communicates, it can create better business outcomes. The company offers services like call centers and the ability to use its technology with your smartphone.

Vonage has recently been improving internally as well as externally. The company recently appointed Priscilla Hung to its board. This was strong because Ms. Hung is the COO of Guidewire Software showing she has strong experience in information systems. In addition, Vonage recently partnered up with transcosmos research and development Inc. to increase the company’s productivity.

Vonage is another success story that grew from the definition of a penny stock. Ten years ago, Vonage was trading under a $1.50 and has been a penny stock for most its existence. Fast forward those 10 years and where is Vonage now? Currently trading at $12.74, beating its last 3 out 4 earnings projections, increasing revenues, and still growing.

Best Penny Stocks: NeoGenomics Inc. (NEO)

NeoGenomics Inc. (NEO Stock Report) is a healthcare company focused on advancing cancer diagnostics and services. The company provides a variety of services including diagnostics, pharma, and client services. Through the use of these services, NeoGenomics aims to improve cancer patient care and save lives.

Over the last quarter, Neogenomics has been extremely active. In June, the company announced a $250 million credit agreement. In July, Neogenomics built a new oncology laboratory and global headquarters in Florida and new pharma services laboratory in Singapore. In addition, the company reported 50% revenue growth, recording $102 million in Q2.

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NEO stock really caught its stride in mid-2012 after trading sideways for 9 years. Since 2012, the stock has only trended upwards growing over 1700% in the next 9 years. The stock really grew from 2018 to 2019 and has continued to set new highs making it one of the best penny stocks to watch. The company has beat its last 4 earnings projections and is going to release its Q3 results on October 28th.

Best Penny Stocks: 8×8 Inc. (EGHT)

8×8 Inc. (EGHT Stock Report) is a technology company known for its 8×8 one cloud communications platform. This platform is extremely versatile allowing voice, video, collaboration, and a contact center through a single platform. This allows businesses to communicate faster internally as well as with customers.

A key feature that a successful company must have is follow-through. A company cannot make it big and then disappear, they must continue to produce results for consumers and stockholders. This is exactly what 8×8 has continued to strive towards. The company has launched its new video meetings service recently further enhancing its platform’s capabilities. Also, 8×8 recently replaced the Legacy Telephony System as TBI Inc.’s communications platform. TBI is one of the largest private technology distributors.

It is hard to imagine that just 10 years ago, this company was a penny stock only trading at $1.50. 8×8 has clearly turned around and continues to lead in communications technology services. They now trade at $23.42, a growth of 1750%, with a market capitalization of $2.3 billion.

Best Penny Stocks: Gray Television Inc. (GTN)

Gray Television Inc. (GTN Stock Report) is a communication services company that provides high-quality TV stations to consumers. The company’s station portfolio is used by 24% of US households. Gray Television has a presence in both small and big markets across the states. Furthermore, the company owns marketing, digital, and video production companies to help broadcast 400 different programs.

Gray Television has been extremely active in keeping both its consumers and investors pleased. Over the last month alone, the company has launched a new political show and renewed all Fox affiliation agreements. 2 months ago, on Gray’s financials, the company posted a record number for operations. This showed investors that the company still has room to grow and it attempting to achieve that growth.

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Gray Television’s stock price has mainly been above penny stock levels for most of its existence. However, from 2008 to 2013 it was trading below $5. After 2013, the company’s stock bounced back and has grown over 900%. The stock’s momentum has not slowed down over this time frame and has grown with the overall market.

By D. Marie

Growing up in the Tri-State area, Wall Street is in my blood. I'm not one to sit and wait, I'm always on the move to find the next big thing and be first to report. I like to focus on any sector that's hot and be at the ground floor of a market boom.

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