US Penny Stocks To Watch In November 2024

As the U.S. equities market rebounds, with the S&P 500 and Nasdaq recovering portions of last week's losses, investors are keeping a keen eye on potential opportunities within various sectors. Penny stocks, while often considered a throwback to earlier trading days, continue to attract attention for their potential upside in today's market environment. These smaller or newer companies can offer significant growth prospects when backed by strong financials, providing investors with a chance to uncover hidden value.

Top 10 Penny Stocks In The United States

Name	Share Price	Market Cap	Financial Health Rating
BAB (OTCPK:BABB)	$0.766	$6.09M	★★★★★★
Golden Growers Cooperative (OTCPK:GGRO.U)	$4.50	$69.71M	★★★★★★
QuantaSing Group (NasdaqGM:QSG)	$3.08	$143.12M	★★★★★★
PHX Minerals (NYSE:PHX)	$3.56	$139.05M	★★★★★☆
So-Young International (NasdaqGM:SY)	$1.25	$90.58M	★★★★☆☆
Better Choice (NYSEAM:BTTR)	$1.75	$3.19M	★★★★★★
Greenland Technologies Holding (NasdaqCM:GTEC)	$2.43	$29.91M	★★★★★★
RLX Technology (NYSE:RLX)	$1.82	$2.15B	★★★★★★
CBAK Energy Technology (NasdaqCM:CBAT)	$0.8363	$84.72M	★★★★★☆
Zynerba Pharmaceuticals (NasdaqCM:ZYNE)	$1.30	$65.6M	★★★★★☆

Click here to see the full list of 749 stocks from our US Penny Stocks screener.

We're going to check out a few of the best picks from our screener tool.

Grab Holdings (NasdaqGS:GRAB)

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Grab Holdings Limited operates as a superapp provider across Southeast Asia, offering services in transportation, food delivery, and digital payments in countries such as Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam; it has a market cap of approximately $19.05 billion.

Operations: Grab Holdings Limited does not report specific revenue segments, but it operates as a superapp offering transportation, food delivery, and digital payment services across Southeast Asia.

Market Cap: $19.05B

Grab Holdings Limited, a superapp provider in Southeast Asia, is currently unprofitable but has shown significant revenue growth potential. The company recently raised its full-year 2024 revenue guidance to between US$2.76 billion and US$2.78 billion, reflecting a positive outlook. Despite past shareholder dilution and a negative return on equity of -2.46%, Grab maintains financial stability with short-term assets of US$6.5 billion exceeding liabilities and more cash than debt. With an experienced management team averaging 2.8 years in tenure, Grab's free cash flow is positive, supporting a cash runway exceeding three years despite ongoing losses reduction at 43.1% annually over five years.

• Click here to discover the nuances of Grab Holdings with our detailed analytical financial health report.
• Explore Grab Holdings' analyst forecasts in our growth report.

Elite Pharmaceuticals (OTCPK:ELTP)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing, manufacturing, and selling oral controlled-release products and generic pharmaceuticals, with a market cap of $599.84 million.

Operations: No specific revenue segments are reported for Elite Pharmaceuticals.

Market Cap: $599.84M

Elite Pharmaceuticals, Inc. has demonstrated revenue growth, reporting US$18.88 million for Q2 2024, up from US$14.16 million the previous year, despite remaining unprofitable with a net loss of US$11.04 million compared to last year's net income of US$14.93 million. The company benefits from a strong balance sheet with short-term assets of US$45.3 million exceeding both short-term and long-term liabilities, and more cash than total debt. While shareholder dilution occurred over the past year and insider selling was significant recently, Elite's seasoned management team supports its operational strategy amidst high share price volatility and negative return on equity at -13.52%.

• Navigate through the intricacies of Elite Pharmaceuticals with our comprehensive balance sheet health report here.
• Examine Elite Pharmaceuticals' past performance report to understand how it has performed in prior years.

Healthier Choices Management (OTCPK:HCMC)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Healthier Choices Management Corp. operates natural and organic retail stores in the United States with a market cap of $481,266.

Operations: The company does not report any specific revenue segments.

Market Cap: $481.27k

Healthier Choices Management Corp. remains a pre-revenue company with negligible sales of US$0.000052 million for Q3 2024 and a net loss of US$4.35 million, up from the previous year. Despite its seasoned management team and board, the company faces financial challenges with increased losses over five years at an annual rate of 46.4%. While short-term assets exceed liabilities, providing some financial stability, its cash runway is less than a year if cash flow trends persist. The stock exhibits high volatility despite no significant shareholder dilution recently and has more cash than debt but rising debt levels over time.

• Click to explore a detailed breakdown of our findings in Healthier Choices Management's financial health report.
• Gain insights into Healthier Choices Management's historical outcomes by reviewing our past performance report.

Make It Happen

• Take a closer look at our US Penny Stocks list of 749 companies by clicking here.
• Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools.
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Ready For A Different Approach?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
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• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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