5 Under-the-Radar Penny Stocks With 10X Potential by 2030

Penny stocks were starting to get hot at the end of last year, but the Russell 2000 Index slipped into correction territory two weeks ago and you'll likely have to wait more for the momentum to pick back up. However, I see this as an opportunity since many with solid underlying businesses are now trading at a discount.

Small-cap companies have had trouble in the past few years with high interest rates. Plus, they generally lack profits and higher rates have made it quite difficult for them to fire up their growth without diluting or taking on unsustainable amounts of debt. That said, there is more leeway for further rate cuts in the near future, with Q4 2025 inflation expected to be at 2.4%.

If you combine that with the fact that many institutional investors are focused on mega-cap stocks, I think it's worth looking into some under-the-radar opportunities in the market that could deliver multibagger gains in a short amount of time.

Do note that no one can guarantee whether or not any of these stocks can truly deliver 10X gains by 2030. But there is a chance and it is up to you to decide whether or not that's worth pursuing.

Intouch Insight (INXSF)

Intouch Insight (OTCMKTS:INXSF) sells customer experience management (CEM) services to companies that have multiple locations. It's mostly known for its studies of drive-thru performance at fast-food restaurants.

That said, this is far from being a boring retail offshoot. It also has software that it sells as a subscription service. Big retail chains can use Intouch CX as a central hub for customer experience data and IntouchCheck as a digital checklist for all the nitty gritty.

The biggest catalyst here would be if it landed a big contract with a major retailer. I believe there's a good chance of that happening as these companies have been racing to automate as many services as possible. The broader CEM market is projected to grow from USD 19.34 billion in 2024 to USD 70.20 billion by 2032 at a 17.5% CAGR. You can thank automation for that.

Intouch's Q3 results have kept up with the market with an 18% top-line increase to $6.66 million. It is also profitable — albeit not very solidly. Management expects this to improve.

"This year will mark the second year in a row with revenues over $25 Million and we expect growth to continue well beyond this level into the future," per the company's CEO.

Rezolve AI (RZLV)

Rezolve AI (NASDAQ:RZLV) has an AI-powered chatbot service for employees on Microsoft Teams and Slack. It claims to provide 4-7X ROI over three years and can automate "Up to 45% Auto Resolution of User Requests."

It also has a retail and e-commerce wing that can automate checkout and product search.

AI is slowly making its way into everything we do, so I think that both the e-commerce and the Slack/Teams market could open up massive growth opportunities. It also claimed it had "Strategic Partnerships with Microsoft and Google" and that "Both companies have committed to reselling and promoting Rezolve Ai’s technologies through their extensive sales channels."

I would take this with a spoonful of salt because the company is essentially pre-revenue. But I do think that there is multibagger potential here. The stock is down almost 75% from July 2024 prices and has started to bounce back up.

Management expects $100 million in annual revenue run rate by the end of 2025.

 

Aeva Technologies (AEVA)

The LiDAR market hasn't been the best-performing sector to invest in the past year. Ouster (NASDAQ:OUST) and Aeva Technologies (NYSE:AEVA) are the only two companies that have delivered some gains. Well, after a gigantic decline that lasted until early 2024. This is more due to the broader EV industry suffering rather than LiDAR itself.

If you don't know what LiDAR is, it is a technology much better than the cameras EVs use today. The catch is that it is quite expensive. High-end automotive LiDAR systems cost between $4,000 to $8,000 per unit and multiple are needed for full coverage. A few years back, investors still thought that this would work out since the bottom line wasn't a concern for most EV companies, but it should be self-explanatory why investors are much more cautious with LiDAR today.

In my opinion, this might be a good time to be greedy with LiDAR. My rationale is that LiDAR is extremely popular with robots. With AI hype continuing to spread over into the industrial sector, I believe LiDAR companies can succeed without EV companies. I also believe there's a chance LiDAR could see a huge cost decline like solar panels did. High-volume production can push mid-range units to some $500 to $1,000 per unit and Chinese manufacturers like Hesai are pushing prices down to under $200 per unit by 2025.

The broader LiDAR market is expected to reach $9.6 billion in 2030 from $1.2 billion in 2024. Aeva Technologies currently has triple-digit sales growth and recently announced that it will be transferring to Nasdaq. Thus, things look pretty good in the near term, though it will have to sell more equity in about a year to deal with the losses.

Globalstar (GSAT)

Globalstar (NYSEAMERICAN:GSAT) is a communications company that provides voice and data services to customers in remote areas. It is mostly known for being Apple's (NASDAQ:AAPL) partner in its satellite Emergency SOS feature.

In late 2024, Apple invested $1.5 billion in the company to beef up its satellite infrastructure and the plan is to bring satellite connectivity to Apple Watches.

You're paying a big premium for GSAT stock at 14 times forward sales, but I still think there's a lot of room to run as the company wants to double its revenue in the "longer term" to $495 million. B. Riley also has a $4 price target here.

So, can it 10X? I believe less likely so than the other stocks in this list. There's only one Apple, but they have plans to expand into 5G — with XCOM RAN — for warehouse automation. I also think the partnership with Parsons (NYSE:PSN) for "defense applications" could evolve into something much bigger.

DroneShield (DRSHF)

Speaking of defense applications, DroneShield (OTCMKTS:DRSHF) is all about it. Drones have been a hot topic for years, but the chatter has intensified after many were spotted in New Jersey a month ago. This gave many drone companies a big boost in the stock market, but I think DRSHF also deserves some attention. Instead of making drones, they make anti-drone technology, such as electronic warfare.

There's no denying that certain countries have an edge in producing very cheap drones en masse. China's DJI is the largest manufacturer of small drones and there is no peer competitor here. It's not a secret that these drones can be easily retrofitted for military use. Thus, I think there's a good chance DroneShield will receive more and more attention from allied militaries in the coming years.

Q2 2024 revenue grew at 108% year-over-year and they secured a $9.7 million Latin American contract just two weeks ago.

As for the stock, it is up 46% in the past year but down 78% from its peak in July last year. If it can keep landing contracts, I think DRSHF stock can recover pretty quickly from this dip.

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