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Penny stocks are popular with investors who believe that these stocks can rise after a catalyst such as the release of a new product or acquisition by a larger company.
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If you’re looking to add some risk to your portfolio, check out this list of the best Canadian penny stocks to buy on the TSX in 2022.
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Penny stocks are exactly what they look like: securities that trade on the public markets with a low market capitalization and a stock price that is typically below $5.00.
Don’t be fooled by their name, while some penny stocks trade for real money, most trade for between $1.00 and $5.00.
They are easily identifiable as they are typically traded on the OTC or over the counter markets, not the NASDAQ or the US New York Stock Exchange.
There is no official OTC market in Canada, so Canadian penny stocks are still traded on the Toronto Stock Exchange or other Canadian exchanges.
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Hive is a company that operates directly in the cryptocurrency mining industry and was the first publicly listed mining company in Canada. These factors make Hive one of the best penny stocks in Canada.
Iceland in particular has a highly efficient green energy infrastructure that is affordable and readily available, making it a popular cryptocurrency mining destination.
Temperatures are also naturally low in the Nordic region, so it is easier to keep mining platforms and data centers cool.
In September 2021, 656 bitcoins were mined and stored in Hive, and this value will continue to grow and grow.
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Hive also acquired significant stakes in companies such as DeFi Technologies and Network Media Group, the latter of which is the core brand of NFT.
When it comes to Canadian penny stocks, Hive has the potential to be significantly higher if it allocates its crypto reserves to further revenue streams.
Global lithium demand has grown rapidly over the past decade and will only increase from there as the world moves towards these secular trends.
Despite the company name, American Lithium Corp. is based in Vancouver, British Columbia, and has a diversified geographic portfolio, including a newly acquired Nevada mine.
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The company recently expanded into the uranium industry as it acquired the world’s largest undeveloped uranium field in Macusani, Peru.
American Lithium Corp. sports rising demand for both lithium and uranium, which are real for the company in the near future.
Another Vancouver-based company considered a Canadian penny exchange, CloudMD, is a connected health platform that sends data-driven information to an integrated health ecosystem.
The company offers what it calls a “boxing clinic,” which includes virtual health meetings with doctors, electronic medical records, and health education.
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Similar virtual health stocks such as Teladoc (NYSE: TDOC) also suffered as shares of the pandemic were believed to be in a bubble.
Even as the world reopens, it is hard to imagine a future without virtual health care, especially for routine patient needs such as prescription refills.
At its heart, FOBI AI is a data analytics company that uses real-time analytics to help companies improve performance while increasing margins and reducing costs.
As the name suggests, FOBI uses artificial intelligence and machine learning as well as hardware integration with elements of the Internet of Things.
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Customers can use the Fobi API to integrate directly with websites and software ecosystems, as well as with their digital wallets, which include NFC technology for payments and transactions.
FOBI shares have already seen significant gains since their debut on the stock exchange, but have pulled back from highs of around $4.00 per share.
It was founded in 2013 for the medical marijuana industry, and when federal legalization took effect in Canada, OrganiGram expanded to recreational cannabis products.
Even if you’re unfamiliar with Organigram’s products, you may be familiar with its sub-brands such as The Edison Cannabis Company, Indie, Bag O’ Buds, SHRED or Trailblazer.
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Shares fell significantly compared to their all-time highs, rising to more than $5.00 per share in early 2021.
Canada’s cannabis sector wasn’t easy to predict by investors, but OrganiGram has a healthy balance sheet with nearly zero debt, meaning it could be a prime candidate for acquisitions in the industry as the sector continues to consolidate. Is.
Even energy stocks can be penny stocks, as the Athabasca Oil Corporation shows. Unlike traditional oil companies, Athabasca focuses on light oil and thermal oil as its main starting products.
After a successful quarterly earnings call, the stock is now trading at its 52-year high after falling sharply at the center of the COVID-19 pandemic.
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Athabasca also offers a dividend rate of 3.5%, which isn’t a lot considering the underlying share price, but provides investors with a safer bottom line that most energy companies have.
Do you know what this company does! Canada Drone Delivery is one of the leading drone delivery services in the country.
We’ve all heard about the future of drone delivery through companies like Amazon, but Drone Delivery Canada is already putting it into practice.
The company operates in airports, facilitating last mile courier delivery, issuing prescriptions and even helping in the mining and oil and gas industries.
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The company is also traded on the US OTC market and the stock exchange in Frankfurt, Germany. As part of an emerging industry, FLT makes the list of the top 10 penny stocks due to its potential for rapid growth in the future.
It also holds patents for most of its technology and wants to be a strong player in the future of connected devices and automation.
Gold and other natural resources have always been a major part of the Canadian Stock Exchange as the mineral-rich landscape favors a strong mining sector.
Fortune is well below the penny limit of $5.00 per share, but when it was founded in 1990, it is a long-established company.
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Shares of Fortuna traded above $10 per share last year, but the shares have lost more than 52% of their value in the past year.
More recently, Cronos Group has partnered with world-renowned biotechnology company Ginkgo Bioworks to combine fermentation and cannabinoids to reach a mainstream audience.
Ventripoint Diagnostics is a Toronto-based company focused on the heart analysis industry by using artificial intelligence technology to accurately read echocardiograms.
This is a technology that enables doctors to get accurate readings of a patient’s heart without the need for an MRI, saving time and money.
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Ventripoint is growing in other industries as well, including working with North Carolina State University Veterinary Hospital to apply the technology to animals as well.
The company specializes in improving the technology of things like electric scooters and has implemented energy storage technology using closed electric vehicle battery cells.
If you’re stubborn in the electric vehicle sector, the Exro should be on your bucket list of pennies to watch.
To increase diversification, let’s add REITs or real estate investment trusts to the list. They are popular because REITs provide investors with exposure to real estate investing in the form of stocks.
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It focuses on industrial and commercial buildings with a net worth of over $1 billion. This particular REIT pays a healthy 7.39% dividend rate that is paid out monthly.
To return to its previous leadership position in the Canadian market, Bombardier will need to travel around the world to reopen to pre-pandemic levels, making it a major low buy share now.
Questrade is a popular choice with Canadian investors because it offers low trading fees and full access to the Canadian penny stock and over-the-counter markets.
The first price structure ranges from $0.01 per share to $6.95 and the second has a fixed fee of $4.95 per transaction.
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Once you decide which plan suits you, simply go to the trading screen and choose which Canadian penny stocks you want to invest in, by entering the stock symbol and selecting the number of shares that will be traded. you want to buy.
All you have to do is enter the Canadian penny stock symbol you wish to buy, enter the number of shares and select the market price to buy it at the current trading price.
Here’s the debate about investing in penny stocks. Some traders swear by them, saying that penny stocks represent a valuable investment that facilitates the creation of large profits.
One thing we do know is that penny stocks are volatile and the over-the-counter markets are less regulated than the major exchanges.
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This makes it easy to add Canadian penny stocks to your portfolio. First, you need to register with a brokerage house such as Wealthsimple, Questrade, or QTrade, which gives you access to Canadian penny stocks.
So just make yours
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