How To Buy Penny Stocks In Canada

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As you’ll see from this list, penny stocks in Canada come from a wide variety of industries.

How To Buy Penny Stocks In Canada

How To Buy Penny Stocks In Canada

Today, nearly 80% of all shares traded on the Toronto Stock Exchange are below $5.00 per share.

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Penny stocks are popular with value investors who believe that the price of these stocks may rise after a catalyst, such as a new product launch or acquisition by a larger company.

If you want to add some risk to your portfolio, check out this list of the best Canadian penny stocks to buy on TSX in 2022.

Penny stocks are exactly what they appear to be: securities traded in public markets with a small market capitalization and a share price generally below $5.00.

Don’t be fooled by their name, while some penny stocks trade real pennies, most trades are between $1.00 and $5.00.

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These stocks seem cheap and affordable, but the risk of investing in them generally outweighs the potential reward.

They are easily identifiable because they are usually traded on over-the-counter or over-the-counter markets rather than the NASDAQ or New York Stock Exchange in the US.

There is no official OTC market in Canada, so Canadian penny stocks are still traded on the Toronto Stock Exchange or other Canadian exchanges.

How To Buy Penny Stocks In Canada

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Hive is a company that works directly in the cryptocurrency mining industry and was the first mining company listed on the stock exchange in Canada. These factors make Hive one of the best penny stocks in Canada.

Headquartered in Vancouver, BC, Hive operates throughout North America as well as in Nordic countries such as Sweden and Iceland.

Iceland in particular has an extremely efficient green energy infrastructure that is cheap and readily available, making it a popular destination for cryptocurrency mining.

Temperatures are also naturally lower in Scandinavia, making it easier to keep mining equipment and data centers cooler.

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As of September 2021, 656 bitcoins have been mined and stored in Hive, and this number will continue to grow and gain value.

Hive has also acquired significant stakes in companies such as DeFi Technologies and Network Media Group, the latter of which is NFT’s main brand.

When it comes to Canadian penny stocks, Hive has the potential to bottom quite high if it diverts its crypto reserves to other income streams.

How To Buy Penny Stocks In Canada

We’ve all heard that lithium is an essential part of batteries in electric vehicles and smartphones.

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Global demand for lithium has skyrocketed over the past decade and will continue to grow from now on as the world moves towards these secular trends.

Despite the company’s name, American Lithium Corp is headquartered in Vancouver, BC and has a diverse geographic portfolio that includes a newly acquired mine in Nevada.

The company has also recently expanded into the uranium industry with the acquisition of the world’s largest undeveloped uranium mine in Macusani, Peru.

American Lithium Corp is playing on the growing demand for lithium and uranium, which are viable avenues for the company to grow in the near future.

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Another Vancouver-based company considered a Canadian penny, CloudMD is a connected health platform that sends data-driven insights to its integrated healthcare ecosystem.

CloudMD targets the employer market as a major user base with over 560,000 active users in its database.

The company provides what it calls a “clinic in a box” solution that includes virtual health appointments with physicians, electronic health records, and health education.

How To Buy Penny Stocks In Canada

Stocks have been beaten to the point where we are getting closer to avoiding the COVID-19 pandemic.

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Similar virtual medical stocks such as Teladoc (NYSE:TDOC) also suffered losses as pandemic stocks were treated as if they were in a bubble.

Even as the world reopens, it’s hard to imagine a future without virtual healthcare, especially for common patient needs such as prescription refills.

At its heart, FOBI AI is a data analytics company that uses real-time analytics to help businesses improve efficiency while increasing margins and lowering costs.

As the name suggests, FOBI uses artificial intelligence and machine learning as well as IoT elements with hardware integration.

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Customers can use the Fobi API for direct integration with websites and software ecosystems, as well as a digital wallet that includes NFC technology for payments and transactions.

FOBI’s stock has already seen significant gains since its IPO, but has pulled back from all-time highs to just under $4.00 per share.

Founded in 2013 for the medical marijuana industry, OrganiGram expanded into recreational cannabis products as federal legalization went into effect in Canada.

How To Buy Penny Stocks In Canada

Even if you are not familiar with OrganiGram products, you may be familiar with its sub-brands such as The Edison Cannabis Company, Indi, Bag O’ Buds, SHRED or Trailblazer.

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The stock is down slightly from a record high price that peaked at over $5.00 a share in early 2021.

Canada’s cannabis sector has not been easy to predict for investors, but OrganiGram has a healthy balance sheet with almost no debt, meaning it could be a prime candidate to acquire more companies in the space as the sector continues to consolidate.

Even energy stocks can cost pennies, as the Athabasca Oil Corporation shows. Unlike traditional oil companies, Athabasca focuses on light and thermal oil as its primary outputs.

The company has several industry-leading projects across Canada and has annual free cash flow of $90 million.

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Following the successful announcement of quarterly results, stocks are now trading at a 52-year high after a sharp decline during the COVID-19 pandemic.

Athabasca also offers a dividend yield of 3.5%, which is not much considering the price of the underlying stock, but gives investors a safe bottom like most energy companies.

You have one guess what this company does! Drone Delivery Canada is one of the leading drone delivery services in the country.

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We’ve all heard about the future of drone deliveries through companies like Amazon, but Drone Delivery Canada is already putting it into practice.

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The company operates at airports, delivers last-mile courier services, breaks rush regulations, and even helps the mining and oil and gas industries.

The company is also listed on the American OTC market and on the Frankfurt Stock Exchange in Germany. As part of a growing industry, FLT is included in this list of top 10 penny stocks due to its potential for rapid growth in the future.

Leveraging board-level integration with the Optical Interposer platform, Poet has created a niche in the IoT market.

The company itself has a strong balance sheet with almost zero debt and a strong cyclical growth model.

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It also holds patents on most of its technologies and wants to be a strong player in the future of connected devices and automation.

Gold and other natural resources have always been a staple of the Canadian stock market as the mineral-rich landscape supports a strong mining sector.

Argonaut Gold is a Canadian company that does most of its mining internationally in places like Mexico and Nevada.

How To Buy Penny Stocks In Canada

Argonaut works to process 300-500,000 ounces of gold per year, making it a high-performance mid-level gold prospector.

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This Vancouver-based mining company focuses on silver and gold products from multiple projects in South America and Mexico.

Fortuna brought in nearly $5.00 a share, but has been a company with a long history since it was founded in 1990.

Last year, Fortune stock traded well above $10 a share, but over the past year, the stock has lost more than 52% of its value.

The company has already distributed its products to five different continents as the global acceptance of cannabis continues to grow.

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Some of its subsidiary product lines include the Lord Jones PEACE NATURALS, COVE, SPINACH and CBD brands, Happy Dance and PEACE+.

Recently, Cronos Group partnered with globally recognized biotech company Ginkgo Bioworks to combine fermentation and cannabinoids to reach a mainstream audience.

Like OGI, the potential of short-term catalysts is one of the main reasons CRON makes this list of pennies.

How To Buy Penny Stocks In Canada

Ventripoint Diagnostics is a Toronto based heart analysis company that uses AI technology to accurately read echocardiograms.

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This is a technology that allows doctors to get accurate readings of a patient’s heart without the need for an MRI, saving time and money.

Ventripoint is also expanding into other industries, including a partnership with North Carolina State University Veterinary Hospital to apply the technology to animals as well.

With advances in electric vehicles, Exro is at the center of clean energy technology and battery innovation.

The company specializes in improving the technology of things like electric scooters

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