One of the most attractive things about penny stocks is the money traders can make with them. While you’ve got storied names like AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) that exploded during the meme stock craze, many others have returned significant gains without as much fanfare. We see cheap stocks making big moves almost daily, and today we look at a handful of names that have exploded since the start of the year. How much, exactly? Let’s take $1,000 of hypothetical dollars and find the answer. for each. In the end, we’ll see how much the total $5,000 in hypothetical money is worth at today’s prices.
Explosive Penny Stocks To Buy
- Splash Beverage Group (NYSE: SBEV)
- Gran Tierra Energy (NYSE: GTE)
- Hycroft Mining Holding (NASDAQ: HYMC)
- Indonesia Energy Corp. (NYSE: INDO)
- Integrated Media Technology Company (NASDAQ: IMTE)
Top Penny Stocks To Buy Now
Penny stocks can become an incredibly lucrative way to capitalize on the stock market’s volatility. But just as quickly as some move up, they can also come crashing down. That’s why it’s always essential to have a plan, set proper entry and exit targets, and have a good grasp on trading market volatility. In many cases, one small headline can spark a big move in specific penny stocks. You want to be ready to act, whichever direction that move is. While quick moves are ideal for traders, some take a longer-term approach, which can pay off handsomely. Here are a few of the top penny stocks of 2022 based on year-to-date moves.
1. Splash Beverage Group (NYSE: SBEV)
As you’ll see, not all penny stocks on this list remain trading below $5. But for those that still meet the standard penny stock definition, they’ve come quite far over the last few months. Splash Beverage Group is one of these hot penny stocks that has jumped up big but remains well below $5.
The company made a “splash” earlier this year with the meme stock crowd. Gaining appeal on popular discussion boards like Reddit and outlets like Twitter helped fuel the early momentum. Much of the excitement stemmed from higher short interest paired with big brand distribution news. This week, the beverage company also made headlines after signing a deal with AB-ONE distributor Northern Eagle Beverage. It will distribute Splash’s SALT Tequila, Copa di Vino wines, and Pulpoloco Sangria in New Jersey.
SBEV Stock v.s. $1,000
So what is the hypothetical $1,000 on January 3rd worth right now? Since SBEV stock opened for trading at $1.15, the YTD move to current levels of $2.62 equates to a jump of 127.8%. That means the hypothetical $1,000 position’s value sits around $2,278 right now.
2. Gran Tierra Energy (NYSE: GTE)
Gran Tierra is another one of the explosive penny stocks of 2022 that is still below the $5 threshold. If one thing has become a driving force this year, it has been energy. Thanks to rising costs, energy penny stocks have seen a substantial jump in action. Gran Tierra focuses on oil and natural gas projects in Colombia and Ecuador. Thanks to a stronger Q4 and 2021, shares of GTE stock have climbed higher. The company recorded increased barrel production per day while generating the highest net income for Gran Tierra since 2018, at $42 million.
GTE Stock v.s. $1,000
Shares of GTE stock aren’t anywhere near the $5 threshold. But that hasn’t mattered much to those who have followed the penny stock since the start of the year. On January 3rd, GTE stock opened for trading at $0.76. As of this article, shares sit at $1.54, up 102.6% year-to-date. That means the hypothetical $1,000 position is worth around $2,026.
3. Hycroft Mining Holding (NASDAQ: HYMC)
One of the most popular penny stocks this month is Hycroft Mining. Though it is in its early stages of development, that hasn’t stopped big investors from putting money into the company that owns the Hycroft Mine in Northern Nevada. Earlier this month, popular meme stock company AMC Entertainment and famed metals investor Eric Sprott jointly announced a $56 million equity private placement. As we discussed when it happened, AMC’s CEO explained, “The strength of SPIDER-MAN: NO WAY HOME and THE BATMAN, as well as 2022’s promising industry box office, heighten AMC Entertainment’s conviction that we are on a glide path to recovery. Our strategic investment being announced today is the result of our having identified a company in an unrelated industry that appears to be just like AMC of a year ago.”
The news has continued circulating, so too has the HYMC stock price. This week it reached fresh highs of $3.10
HYMC Stock v.s. $1,000
The Monday after the NYE Ball dropped, HYMC stock opened trading at $0.65. Fast-forward to today and the time of this article, and HYMC shares are hovering around $2.57. That hypothetical $1,000 position would now be worth 295.4% more or roughly $3,954.
4. Indonesia Energy Corp. (NYSE: INDO)
Like Gran Tierra, Indonesia Energy Corp. benefited from the rise of interest in energy penny stocks. It also enjoyed heightened attention from traders hunting for short squeeze stocks. In this case, INDO’s move this year is nothing short of jaw-dropping. Thanks to industry hype and speculation stemming from the Russia-Ukraine conflict, traders seemed to take that as a sign. Fast-forward to right now, and INDO stock is far from the penny stock range.
INDO Stock v.s. $1,000
Just how far has INDO stock come? At the beginning of the year, shares opened for trading at $2.84. Right now, the energy stock is trading around $21.60. It’s also worth mentioning that at the highs this year, INDO stock reached nearly $87. So how has the hypothetical $1,000 position faired? Based on the 660.5% move so far, the total position is around $7,605.
5. Integrated Media Technology Company (NASDAQ: IMTE)
Integrated Media is another high-flyer that is no longer in the penny stock range. Thanks to excitement about digital assets, the media company’s shares began surging in January. There’s no secret that things like Bitcoin, Ethereum, NFTs, and DeFi are the year’s buzzwords. In light of this, shares of IMTE stock have remained red hot thanks to continued developments and new milestones within this arena. Earlier this year, Integrated Media reported that it completed the development of its online digital assets trading platform, Ouction. It was designed as a solution that uses image cryptographic verification technology to act as a bridge for online to offline transactions, including NFTs.
IMTE Stock v.s. $1,000
As far as our hypothetical $1,000 at the beginning of the year, IMTE stock is another top performer. January 3rd saw the penny stock open at $4.31, and as of this article, it sits around $17.99. That’s 317.4% higher, which puts the $1,000 position in the ballpark of $4,174.
Are Penny Stocks Worth It?
It’s important to remember that not all penny stocks perform as these have. You should also note that many of these penny stocks are up significantly YTD but have fallen far from their 2022 highs. In total, the $5,000 at the start of the year (accounting for each company) would be worth $20,037 based on the prices of these penny stocks (and former penny stocks) at the time of this article. This is in no way to be taken as advice about any names mentioned. However, if you’re wondering if penny stocks are worth it or not, I’ll let you decide after seeing some of this year’s top penny stocks.