12 Popular Penny Stocks on Robinhood to Watch

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4. Tuya Inc. (NYSE:TUYA)

No of hedge fund holders: 13

Tuya Inc. (NYSE:TUYA) is a provider of a purpose-built Internet of Things (IoT) cloud development platform. It empowers businesses, original equipment manufacturers, and developers to create and manage innovative smart devices and services. The stock has surged by over 100% since the start of 2025, which places it on the list of the best penny stocks on Robinhood.

Tuya Inc. (NYSE:TUYA), has announced a strategic partnership with Viettel Telecom, the largest telecommunications operator in Vietnam, and T3 Technology, a leading telecom solutions provider in Southeast Asia. This partnership will leverage Tuya’s Cube Cloud solution and the collective expertise of the three companies to expedite the development of the smart home ecosystem in the region. This move is expected to enhance user convenience and engagement, improve business expansion, and boost market competitiveness.

Tuya Inc. (NYSE:TUYA) reported a positive full fiscal year 2024. The company’s total revenue for the full year was $298.6 million, reflecting a 29.8% increase from $230 million in 2023. The net profit for the year came in at $5 million, a significant improvement from a net loss of $60.3 million in 2023. The company also generated $80.4 million in net cash from operating activities for the year, marking a 120.5% increase from the previous year.

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