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.