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Last week's 10 top penny stocks were led by a little-known blockchain firm that just closed a $24 billion contract to revolutionize China's public transportation system.
On Friday (Aug. 24), Seven Stars Cloud Group (Nasdaq: SSC) announced a $24 billion deal to finance China's nationwide push to replace all gas-powered public buses with electric vehicles by 2021.
According to a press release, Seven Stars will offer two financing campaigns for the initiative through its regulatory-compliant blockchain network. The first campaign intends to raise $8.75 billion over the next three years. The second campaign hopes to generate an additional $15 billion by 2025.
The announcement pushed shares of Seven Star to $5.65, locking in a gain of 175% over Monday's (Aug. 20) opening price of $3.00 a share.
Seven Star's tremendous gains show the kind of returns a strong penny stock can generate for shareholders.
However, Seven Star's gains are already on the books. After looking at last week's top performing penny stocks, we'll show you a penny stock on the verge of jumping over 70%…
| Penny Stock | Current Share Price | Last Week's Gain |
| Seven Stars Cloud Group Inc. (Nasdaq: SSC) | $4.49 | 175.13% |
| Alliance MMA Inc. (Nasdaq: AMMA) | $0.37 | 121.05% |
| India Globalization Capital Inc. (NYSE: IGC) | $1.14 | 74.38% |
| Obalon Therapeutics Inc. (Nasdaq: OBLN) | $3.23 | 63.16% |
| Cytori Therapeutics Inc. (Nasdaq: CYTX) | $0.56 | 55.76% |
| Atlanticus Holdings Corp. (Nasdaq: ATLC) | $2.85 | 43.55% |
| Research Frontiers Inc. (Nasdaq: REFR) | $1.28 | 41.37% |
| Koss Corp. (Nasdaq: KOSS) | $4.08 | 41.28% |
| GLG Life Tech Corp. (TSE: GLG) | $0.88 | 33.90% |
| Geron Corp. (Nasdaq: GERN) | $4.76 | 32.40% |
While those gains are already in the book, you don't have to miss out on the next penny stocks to soar.
Using the Money Morning Stock VQScore™, we've identified penny stocks with the kind of reliable financials that can generate strong returns on very little upfront investment.
In fact, we've already uncovered one penny stock with serious growth potential.
It's a Canadian energy company tapping into North America's growing oil output.
And it's about to jump over 70%…