We're always looking for top penny stocks for investors – and some of our best picks climbed 440%, 231%, and 214% last year.
Penny stock investing is always a tricky proposition. Pitfalls abound. Flaky financial reporting, the risk of securities fraud, and illiquidity are a few of the biggest concerns when investing in penny stocks.
However, the potential for unrivaled gains is simply too big to ignore.
For hints on picking the biggest penny stock winners, check out five of our top penny stocks over the past couple of years. They were all recommended by our investment experts in a variety of services.
If you missed these penny stock picks, it's not too late – a few have more room to grow in 2014.
Money Morning's Top Penny Stocks
Accuray Inc. (Nasdaq: ARAY) was first recommended by Money Morning Chief Investment Strategist Keith Fitz-Gerald on Jan. 13, 2012, when the stock was trading just below $5. Now that stock has risen more than 103%.
Accuray sells radiation-oncology systems. Accuray's "CyberKnife Robotic Radiosurgery System" allows doctors to deliver radiation treatment anywhere in the patient's body with extreme accuracy. At the time, the company had 598 systems operating in 33 countries.
"Anytime I see a multinational company, selling in a growing market, to a large-and-growing population, I get excited," Fitz-Gerald told Private Briefing investment service Editor Bill Patalon at the time.
Today, ARAY stock is worth $8.97.
Celldex Therapeutics Inc. (Nasdaq: CLDX) was priced at $5.12 when Private Briefing's Patalon first informed readers about this potential play in April 2012. It has soared 453% since then – taking it out of penny stock territory.
"Celldex has a whole pipeline of drug candidates being developed for cancer and other tough-to-treat diseases. Its weapon of choice: An antibody-focused 'Precision Targeted Immunotherapy Platform,' or PTIP," Patalon said.
With a market cap of $2.16 billion, CLDX is the largest company on this list. Currently, the stock trades north at $28.32. Shares of CLDX peaked at $37.83 in October. That was a 440% gain in just 10 months.