Top Penny Stocks to Buy Today  

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The term “penny stocks” is a bit of a misnomer, although this group certainly includes stocks that trade for under $1 per share and even those that trade for just a few pennies. However, penny stocks are also a bit broader than that, generally encompassing stocks that trade for less than $5 per share.

That means even Amazon (NASDAQ:AMZN) was once a penny stock, as were Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), and many other top stocks today.

Here are some of the top penny stocks right now to watch.


Playstudios Inc. (NASDAQ:MYPS) runs free-to-play mobile and social games, including casino games, Tetris, Sudoku and others. It also has a rewards program that enables players to earn real-world rewards from its various partners.

The company went public in 2021 at over $10 per share, but its stock price has fallen to its current price of $2.91 per share over the past three years during what has been a very difficult economic environment for advertisers. However, the social gaming market is growing rapidly, as the industry is expected to grow at a 16% compound annual growth rate between now and 2029, reaching $76.8 billion.

Playstudios should be at the center of that growth. The game developer grew its revenue 14.7% year over year in the second quarter to $78 million, and it is moving toward consistent profitability Playstudios recorded a net loss of $3.3 million through the first six months of the year, compared to a $19 million net loss through the first two quarters of 2022.

In the last quarter, the company raised its adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for fiscal 2023 to a range of $55 million to $60 million from the previous range of $50 million to $60 million. At their midpoints, revenue and adjusted EBITDA are expected to grow 9% and 50%, respectively, in fiscal 2023.

Over the next five years, Playstudios projects annual EPS growth of 35%, and analysts have a consensus price target of $6 per share over the next 12 months, which represents a 104% increase over the current price.


SunOpta Inc. (NASDAQ:STKL) produces plant-based drinks and snacks. It has been around since 1973, but it has recently undergone a strategic shift. SunOpta began streamlining its portfolio a few years ago to focus on plant- and fruit-based drinks and healthy snacks. In the latest move earlier this month, it sold off its frozen fruit business to Nature’s Touch for $141 million, which it expects to use to pay down its debt.

“This transaction is significantly accretive to margins, results in a more capital-efficient business model, strengthens our balance sheet and ensures we are singularly focused on the most attractive growth opportunities,” CEO Joe Ennen said.

The stock has struggled this year, tumbling 51% year to date to around $4.13 per share, but the company is positioning itself for growth by focusing on plant-based snacks. This market is expected to more than double over the next 10 years, reaching $76 billion.

SunOpta lowered its fiscal year 2023 revenue and EBITDA outlook, due in part to losses in the frozen fruit business, which the company is divesting, and softness in the plant-based market, which has been slower to ramp up. However, SunOpta seems to be on the right track, and it recently announced plans to expand its fruit snack business and double its capacity as it seeks to capture more market share in this growing, niche segment of the food industry.

By 2025, SunOpta projects $1.3 billion in revenue, up from its projected 2023 revenue of $880 million to $900 million, and $150 million in adjusted EBITDA, up from a projected $87 million to $91 million in 2023. Analysts project a 12-month consensus price target of $8.50 for SunOpta, which would represent a 105% increase over current levels.

Penny stocks are known for their volatility, so always proceed with caution. However, these two stocks are in growing industries and appear to be well-positioned for long-term growth.

Disclaimer: All investments involve risk. In no way should this article be taken as investment advice or constitute responsibility for investment gains or losses. The information in this report should not be relied upon for investment decisions. All investors must conduct their own due diligence and consult their own investment advisors in making trading decisions.