Penny stock investing is attractive to those looking for huge gains in a short period of time, and the top 10 penny stocks of January 2014 prove that.
Each stock posted a gain of at least 97% in January alone – one gained an incredible 858%.
Investing in penny stocks can have its drawbacks and can be risky. But those investors who are prepared for the risks and jump on the right penny stock can double their money in days.
Just look at these top penny stocks last month.
Top 10 Penny Stocks from January 2014
GreenGro Technologies Inc. (OTCMKTS: GRNH) gained an incredible 858% in January. Pot penny stocks have soared since the legalization of marijuana in Washington and Colorado. GreenGro oversees the planning, construction, staffing, and operation of medical marijuana dispensaries and nurseries. GRNH stock was worth about $0.05 per share at the beginning of 2014, and ended at just over $0.43.
Verso Paper Corp. (NYSE: VRS) develops paper products that are used in a variety catalogs, magazines, retail inserts, and other commercial print items. At the end of January, VRS stock was trading at $3.00 after a one-month gain of 380%. Verso Paper has a market cap of just $158 million.
HEMP Inc. (OTCMKTS: HEMP) is a holding company with numerous subsidiaries related to marijuana and hemp. According to the company, its goal is to “offer ancient hemp solutions for today's modern world while educating people of hemp's many benefits and medicinal properties.”
HEMP stock has also ridden the pot stock wave and gained nearly 363% in January. That wasn’t the end for HEMP stock though – it’s up 1,332% year to date. The stock is still affordable at just $0.30 per share.
Cannabis Science Inc. (OTCMKTS: CBIS) is yet another pot penny stock to make the list, this one up 248% in January 2014. CBIS is a development-stage company dedicated to cannabis-based medications. The company is also engaged in medical marijuana research and development. CBIS stock finished the month of January just above $0.18 per share.
Kingtone Wirelessinfo Solutions (Nasdaq: KONE) develops and provides mobile enterprise solutions for its clients. Those solutions allow employees to remotely connect to their company’s numerous systems. KONE stock started January around $3, but after a 240% gain, ended the month at just over $10. That makes KONE the most expensive stock on this list. But with a market cap of just $10.8 million, it is also the smallest company mentioned here.
Dialogic Inc. (OTCMKTS: DLGC) is a communications platforms and technology services company. Some of the solutions it provides clients are cloud communications, network infrastructures, and mobile services. DLGC has a market cap of just $13 million. Those who bought DLGC stock in early January don’t care about the company’s size, as it gained 178% that month. It started 2014 trading at $0.36 and ended the month at $1.00.
Endocan Corp. (OTCMKTS: ENDO) offers a variety of nutraceuticals and cosmetic products including lip balms, moisturizing creams, sunscreens, and anti-aging serums. In January, ENDO stock posted an impressive gain of 171%. The stock’s rise has continued into 2014 and currently trades at $0.14 per share after opening the year at $0.03.
Minco Gold Corp. (NYSE: MGH) is an exploration-stage gold company operating in China. In the month of January, MGH stock was up $0.25. At first glance, gaining a quarter in one month might not seem that great, but it represented a 153% jump for MGH shareholders. MGH closed out the month of January with a price tag of $0.41 per share.
Rexahn Pharmaceuticals Inc. (NYSE: RNN) is a development-stage pharmaceutical company that is working on treatments for cancer. The company also has several other drug candidates that are in the preclinical stage. Shareholders who purchased RNN stock at the beginning of January experienced a 125% increase during the month. RNN closed the month at $1.15 after gaining $0.64 in January.
Small-cap pharmaceutical companies are often takeover targets for big pharma companies facing the “patent cliff.” RNN certainly fits that mold.
Gray Fox Petroleum Corp. (OTCBB: GFOX) rounds out the list having jumped 97% in January 2014. Gray Fox is an oil and gas exploration company that operates mostly in the Butte Valley oil play region of Nevada. GFOX stock climbed from $0.90 to $1.78 in January. GFOX has a market cap of $82.5 million and is trading at $2.30 now.
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