The Best Penny Stocks in Canada for 2022

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Several investors have a single trading strategy, while others have more than one. Some may focus on growth companies. Others focus on dividend-paying companies. There are a few investors who consider themselves to be penny stock traders as well.

In this Wealth Rocket article, we’ll explore the best penny stocks in Canada, with additional information covering everything new beginners need to know before they delve into trading penny stocks.

10 of the Best Penny Stocks in Canada to buy now

While there is no best stock to invest in, we’ve found some hot Canadian penny stocks to watch.

Remember, all investors should do their due diligence before making any form of investment, as the stocks below are highly speculative compared to large Canadian dividend-paying stocks.

Here’s what we consider to be the best penny stocks in Canada:

  1. 5NPlus (VNP)
  2. American Lithium Corp (LI)
  3. CloudMD Software & Services (DOC)
  4. Drone Delivery Canada (FLT)
  5. Exro Technologies (EXRO)
  6. Good Natured Products (GDNP)
  7. Hight Tide (HITI)
  8. Numinus Wellness (NUMI)
  9. Hive Blockchain (HIVE)
  10. Ventripoint Diagnostics (VENTRI)

Let’s take a closer look at the best Canadian penny stocks to buy right now:

1. 5N Plus

Symbol: VNP

Price:$2.21*

The first in our list of Canandian penny stocks is Montreal-based 5N Plus produces engineered materials and specialty chemicals for customers in the Americas, Europe, and Asia. The company’s products are essential components in creating smartphones, detectors for medical imaging, and solar cells for satellites. This is a stock that trades on the TSX. Its price ranged between $2.21 to $5.01 over the last 12 months.

2. American Lithium Corp

Symbol: LI

Price:$5.05*

Located in Vancouver, British Columbia, American Lithium engages in the purchase, exploration, and development of lithium resources in the Americas. The company is currently exploring and developing a project in Nevada and recently acquired some real estate there. Lithium is a key component for rechargeable batteries in electric cars. American Lithium is among the top Canadian penny stocks to buy in 2021 as its shares have traded between $1.06 and $6.25 over the last 12 months.

3. CloudMD Software & Services

Symbol: DOC

Price:$1.21*

Among the best penny stocks to buy now in Canada is Vancouver-based CloudMD. It offers health technology solutions to medical clinics in North America that allows patients to see a doctor through an app on their phone or computer. The company provides services to more than 500 clinics and 4,000 licensed practitioners. Over the last 12 months, CloudMD’s stock has traded between $1.18 and $3.25. A stand-out among Canadian penny stocks.

4. Drone Delivery Canada

Symbol: FLT

Price:$0.82*

If you’re thinking of investing in a tech company’s penny stock in Canada, consider Drone Delivery Canada. This Vaughan, Ontario-based company focuses on designing, developing, and implementing a logistics software platform for using drones. Its platform uses a Software as a Service (SaaS) model for governments and organizations worldwide. The stock price has ranged between $0.85 and $2.55 over the last 12 months.

5. Exro Technologies

Symbol: EXRO

Price:$3.18*

For those with an environment-friendly bent of mind, Exro is worth considering as one of the top Canadian penny stocks to buy in 2021. Exro is a clean technology company based in Vancouver, British Columbia that has developed control technology to expand the capabilities of batteries, electric motors, and generators. In other words, its technology enables applications to achieve more while also using less energy. In the last 12 months, the stock has traded between $2.56 and $7.55.

6. Good Natured Products

Symbol: GDNP

Price:$0.80*

Next on our list of best Canadian penny stocks is Good Natured Products. This company is based in Vancouver and creates products out of plant-based materials. Some of its products include food packaging, compostable takeout containers and cutlery, and recycling containers. The stock price has ranged between $0.63 and $1.98 over the past 12 months.

7. High Tide

Symbol: HITI

Price:$7.44*

Here’s another Canadian penny stock to buy in 2021. Calgary’s High Tide is a cannabis retailer with stores in Alberta, Manitoba, Ontario, and Saskatchewan. The company’s stores feature the Canna Cabana, KushBar, Meta Cannabis Co, NewLeaf Cannabis, and Meta Cannabis Supply Co. banners. Over the last 12 months, the stock has traded between $2.47 and $16.95. We hope your investments “fly high” with this one!

8. Numinus Wellness

Symbol: NUMI

Price:$0.59*

Most of us have been focusing on our mental health & wellness since the Covid-19 pandemic. So it is no surprise that this wellness company is in our list of best penny stocks in Canada. This Vancouver-based company focuses on using psychedelics for treating mental illness, substance abuse, and trauma. The company expects that safe, legal access will become available to treat those conditions in the future. The stock price has ranged between $0.58 and $2.45 over the last 12 months.

9. Hive Blockchain Technologies

Symbol: HIVE

Price:$4.59*

If you’ve ever delved into the world of cryptocurrency, then you know what crypto mining is. Hive Blockchain Technologies is the first publicly traded crypto mining company. They are big of sustainability and claim that they use 100% green power (solar, wind, hydroelectric energy or a combination of the three). Before investing in this Canadian crypto company, be careful to make sure that you are investing in genuine HIVE stocks, and not scammers pretending to be a financial services company of the same name.

10. Ventripoint Diagnostics

Symbol: VPT

Price:$0.34*

Last but not least, we have Toronto-based Ventripoint which produces a heart analysis system that combines artificial intelligence with echocardiography (an ultrasound of the heart). The device provides accurate heart measurements that are equivalent to an MRI without having to use one. The stock has traded between $0.065 and $0.67 over the last 12 months. Consider putting this in your Canadian penny stock portfolio.

*As of closing time on December 1, 2021

Keep in mind that not all penny stocks have revenue or produce positive cash flow. When evaluating penny stocks to buy, it’s different than evaluating large-cap stocks because they’ll have a longer track record and can be easier to compare with one another.

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