The top 10 penny stocks of 2014 have seen tremendous gains, one as high as 877%.
That's exactly why some investors are so enamored with penny stocks – they have the potential to transform portfolios in a very short period of time.
While some of the top penny stocks this year are related to the marijuana industry recently legalized in some U.S. states, numerous fields are represented on the list.
Here are some of the best penny stocks of 2014, and they've all posted gains of at least 150%…
Top 10 Penny Stocks of 2014
GreenGro Technologies Inc. (OTCMKTS: GRNH) has been the biggest winner of 2014 so far, posting an incredible 877% gain year to date. Pot penny stocks have seen some huge jumps in 2014, but GRNH has rewarded shareholders the most.
GreenGro is involved with the planning, construction, staffing, and operation of medical marijuana dispensaries. The stock opened the year at just $0.04 and quickly zoomed to almost $0.80 a share. The stock has settled back down to $0.43.
Hemp Inc. (OTCMKTS: HEMP) is another marijuana stock that has watched its share price soar in 2014. Since Jan. 1, HEMP is up 513%. HEMP is a holding company that invests in "profitable, legal, and diversified ventures" related to marijuana. HEMP shares currently trade near $0.12 after opening the year at $0.02. The company has a market cap of just $24 million, making it a true penny stock.
SMTP Inc. (Nasdaq: SMTP) provides email services and support to companies of various size. Since the start of 2014, SMTP stock has climbed 324%. The stock jumped nearly 500% in the first week of 2014 and has since settled. The stock is currently valued at $6.06 per share, up from $1.43 on Jan. 1. In February, the company announced that it would begin paying its shareholders a $0.12 dividend.