10 Penny Stocks That Will Make You A Millionaire

Published January 10, 2023 at 10:36 am EST Updated August 19, 2026 at 9:14 am EDT

In this article, we will discuss the 10 penny stocks that will make you a millionaire.

Penny stocks can be an attractive option for investors looking to get in on the stock market without breaking the bank. While penny stocks may offer the potential for large returns, they are also highly risky and can lead to significant losses. Investing in penny stocks requires a great deal of research and due diligence, as well as an understanding of the unique risks associated with this form of stock market trading.

The primary benefit of investing in penny stocks is the potential for large returns. Penny stocks are typically stocks that are trading for less than $5 per share, and they can be incredibly volatile. This means that even a small change in the price of the stock can result in a large percentage gain or loss. This can be attractive to investors who are looking for quick profits, but it also means that there is a high risk of losses.

When investing in penny stocks, investors should conduct thorough research into the company and its operations, as well as the industry in which it operates. It is important to understand the financial statements and the trends in the industry, as well as the company‘s competitive landscape. Additionally, investors should be aware of the high volatility associated with penny stocks and should be prepared for large swings in the price of the stock. Here is where we come in. We found some penny stocks that have the potential to make you a millionaire. Some of the penny stocks that can make you a millionaire include Tellurian Inc. (NASDAQ:TELL), Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), and Farfetch Limited (NYSE:FTCH), all of which, among others, are discussed in detail below.

To find penny stocks that can potentially make early investors a millionaire, we read recently published articles on Stock Gumshoe. Stock Gumshoe is an online financial resource and analysis website that helps investors make better decisions. It provides a unique and in–depth look at the stock market, giving investors valuable insights into the underlying fundamentals of companies. The site was founded by Travis Johnson in 2007 and is focused on uncovering “secret stocks” pitched by famous premium investment newsletters, and also determining whether those stocks are worth the hype and worth investors’ money.

Penny Stocks That Will Make You A Millionaire

Our Methodology

We read these articles carefully and then selected the stocks that have promising futures ahead of them and are currently trading under $5 a share. We have discussed each stock in detail and have talked about the company’s business model, products, financials. Moreover, along with each stock, we have included the hedge fund sentiment, analyst ratings, and publishers’ pitches.

At Insider Monkey, we firmly believe that the hedge fund sentiment is a good indicator of confidence in a company’s future. So, we have ranked these stocks according to their popularity among elite money managers, from least popular to most popular.

10 Penny Stocks That Will Make You A Millionaire

10. Zevia PBC (NYSE:ZVIA)

Share Price as of January 6: $4.64

Number of Hedge Fund Holders: 3

Zevia PBC (NYSE:ZVIA) is an American beverages company that develops and distributes carbonated and non-carbonated soft drinks in the United States and Canada. The company’s product offerings include soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water.

Stock Gumshoe thinks that Alexander Green, the Chief Investment Strategist for The Oxford Club, teased Zevia PBC in his Oxford Microcap Trader newsletter. Here are some comments from the publisher’s pitch:

“The company has sold over a billion beverages and added over 1 million new households to its customer base last year. It’s the fastest-growing natural product in the U.S. And its earnings have skyrocketed… In the last two years alone, earnings are up 1,379%! But the stock trades for less than $5 a share!”

On November 10, Zevia PBC posted earnings for the third quarter of fiscal 2022, in which the company beat EPS by $0.04. The company’s revenue for the quarter amounted to $44.24 million, up 13.56% year over year. As of January 6, Zevia PBC trades at $4.64 a share and is one of the penny stocks that has the potential to make you a millionaire.

At the end of Q3 2022, 3 hedge funds held stakes in Zevia PBC. The total value of these stakes amounted to $1.39 million. As of September 30, Lakewood Capital Management is the largest shareholder in the company and has a position worth $1.2 million.

Like Tellurian Inc., Ginkgo Bioworks Holdings, Inc., and Farfetch Limited, Zevia PBC is a potential gold mine and can rake in millions of dollars on a relatively small initial investment.

9. Trilogy Metals Inc. (NYSE:TMQ)

Share Price as of January 6: $0.56

Number of Hedge Fund Holders: 6

Next up is a base metals exploration company, Trilogy Metals Inc. (NYSE:TMQ), that explores for and develops mineral properties in the United States. The stock was teased by self-proclaimed “America’s #1 Stock Timer”, Dr. Stephen Leeb, in The Complete Investor. Here are some comments from Dr. Stephen Leeb about the stock:

“Turn a small $2,700 stake into a potential $16,200… and a larger one into as much as $62,500… with one of the greatest opportunities in America right now. Get in before official U.S. government approval to secure the kind of gains that can outpace inflation and secure your financial future.”

Travis Johnson thinks that Dr. Stephen Leeb is talking about Trilogy Metals Inc.. Last October, National Bank analyst Rabi Nizami revised her price target on Trilogy Metals Inc. to C$1.15 from C$1.35 and maintained a Sector Perform rating on the shares.

Trilogy Metals Inc. might just be the penny stock that will make you a millionaire. According to Stephen Leeb, Trilogy Metals Inc. has “one of the highest grade resource deposits in the world, packed with 159 million pounds of copper, 199 million pounds of zinc, 33 million pounds of lead, 3 million ounces of silver, and 30,600 ounces of gold”, and the stock is still trading at $0.56 per share, as of January 6.

At the close of Q3 2022, 6 hedge funds were bullish on Trilogy Metals Inc. and disclosed positions worth $16.35 million in the company. Of those, GMT Capital was the largest investor in the company with a stake of $364,000.

8. Matterport, Inc. (NASDAQ:MTTR)

Share Price as of January 6: $2.72

Number of Hedge Fund Holders: 7

Matterport, Inc. (NASDAQ:MTTR) is one of the top metaverse stocks teased by Andrew Snyder’s Manward Letter. Matterport, Inc. is an innovative 3D data capture and visualization technology company based in Sunnyvale, California. The company develops solutions to capture, digitize and share three-dimensional spaces. The company’s technology is used in a variety of industries, such as real estate, architecture, engineering & construction, tourism & hospitality, retail, and media & entertainment among others.

Here are some comments from Andrew Snyder’s pitch for Matterport, Inc.:

“This $5 Stock Could Be the Gateway to the Metaverse. You see, I believe the biggest growth in the metaverse will be in industrial applications. Just as computers and microchips are part of our everyday lives, augmented reality soon could be as well. It’s the start of something big. And I believe one company will be at the center of it all. It’s a software firm that specializes in turning the real world into lifelike 3D imaging. It can take any physical space and transform it into an accurate and photorealistic digital copy.

Wall Street forecasts the virtual world builder will see… ‘revenue triple by 2025.’ With an under-$5 price right now, that could translate into a huge win.”

Last November, Deutsche Bank analyst Bhavin Shah updated his price target on Matterport, Inc. to $5 from $7 and maintained a Buy rating on the shares. As of January 6, Matterport, Inc. trades at $2.72 per share. The penny stock has the potential to turn into a million dollar investment as the metaverse kicks up.

At the end of Q3 2022, 7 hedge funds were long Matterport, Inc. and disclosed positions worth $5.85 million in the company. Of those, Sculptor Capital was the top shareholder in the company and held a position worth $1.51 million.

7. Absci Corporation (NASDAQ:ABSI)

Share Price as of January 6: $2.43

Number of Hedge Fund Holders: 8

Absci Corporation (NASDAQ:ABSI) is an innovative drug discovery company that provides biologic drug candidates and production cell lines using an integrated drug creation platform for partners in the United States. The penny stock has the potential to rake in millions and is placed on our list of the best penny stocks that can make you a millionaire.

The stock was teased by Alexander Green in his Oxford Microcap Trader newsletter. Here are some comments from the publisher’s pitch:

“The company has one mission: to transform the drug discovery market. It uses artificial intelligence to create new drugs at breakneck speed. Its AI-powered drug discovery platform integrates genomics, engineering, hyperscale data science, and machine learning to reduce costs, move quickly, and solve the toughest problems in drug development”

On November 9, Absci Corporation posted earnings for the fiscal third quarter of 2022. The company reported a revenue of $2.37 million, up 53.93% year over year, and outperformed Wall Street consensus by $0.50 million.

At the end of Q3 2022, 8 hedge funds held stakes in Absci Corporation. The total value of these stakes amounted to $54.48 million. As of September 30, Redmile Group is the largest shareholder in Absci Corporation and has a position worth $25 million in the company.

6. Unity Biotechnology, Inc. (NASDAQ:UBX)

Share Price as of January 6: $3.36

Number of Hedge Fund Holders: 11

Unity Biotechnology, Inc. (NASDAQ:UBX) is a clinical–stage biotechnology company that focuses on developing therapeutics to slow, halt, or reverse diseases associated with aging. Unity Biotechnology, Inc. (NASDAQ:UBX) was teased by Angel Publishing in its Technology & Opportunity newsletter. Here are some comments from the pitch:

“this small biotech firm has figured out how to make zombie cells self-destruct… And completely erase every sign of aging from your body! Inside this patented pill is a special group of compounds called senolytics. Seno is derived from the Latin word -senex, meaning old, and -lytic, meaning to destroy. So, the literal definition of senolytics is ‘old-destroying.’ And that’s exactly what these compounds do. Once inside your body, senolytic compounds selectively target your old, damaged zombie cells, causing them to self-destruct.”

Unity Biotechnology, Inc. is trading at $3.36 a share, as of January 6. The company has the potential to disrupt the healthcare industry and is one of the penny stocks that can potentially return millions of dollars to early stage investors. The stock is one of the penny stocks that can make you a millionaire.

Last November, Wedbush analyst Andreas Argyrides raised his price target on Unity Biotechnology, Inc. to $36 from $4 and maintained an Outperform rating on the shares.

At the end of Q3 2022, 11 hedge funds were eager on Unity Biotechnology, Inc. and disclosed stakes worth $9.46 million in the company. Of those, Alyeska Investment Group was the dominant investor in the company with a position worth $5.08 million.

In addition to Unity Biotechnology, Inc., other penny stocks with promising upside potential include Tellurian Inc., Ginkgo Bioworks Holdings, Inc., and Farfetch Limited.

5. Aeva Technologies, Inc. (NYSE:AEVA)

Share Price as of January 6: $1.27

Number of Hedge Fund Holders: 15

Aeva Technologies, Inc. (NYSE:AEVA) is a Silicon Valley-based technology company that creates and designs autonomous sensing solutions. The company is committed to pushing the boundaries of technology to create the most advanced and accurate sensing solutions for autonomous vehicles and industrial applications. Aeva Technologies, Inc. was pitched by Luke Lango of Investorplace in the Innovation Investor newsletter. Here is what the publisher said:

“I predict the biggest gains will come from investing in the one tiny $5 tech company that could help make the Apple Car a reality! I believe this company could provide a key piece of tech the Apple Car needs to become a truly autonomous vehicle…Because it’s going to be what allows the autonomous Apple Car to SEE….Surprisingly, this tech is already being used in our iPhones…And two former Apple engineers actually left to build this company and start applying it to AVs! That’s why I believe the Silicon Valley tech firm they started is a shoe-in to become a vital Apple Car supplier.”

As of Last November, Roth Capital analyst Suji Desilva has a Buy rating and a $10 price target on Aeva Technologies, Inc.. As of January 6, Aeva Technologies, Inc. is trading at $1.27 a share and is placed on our list of the penny stocks that can make you a millionaire.

At the close of Q3 2022, 15 hedge funds held stakes in Aeva Technologies, Inc.. The total value of these stakes amounted to $66.4 million. As of September 30, Sylebra Capital Management is the top shareholder in the company and has a position worth $50.68 million.

4. Wheels Up Experience Inc. (NYSE:UP)

Share Price as of January 6: $1.18

Number of Hedge Fund Holders: 17

Wheels Up Experience Inc. (NYSE:UP) is a leading provider of on–demand air travel services, connecting customers to private aircraft for a variety of leisure and business needs. As of January 6, Wheels Up Experience Inc. (NYSE:UP) is trading at $1.18 per share and is one of the penny stocks that can return millions of dollars an a relatively small initial investment.

Wheels Up Experience Inc. was teased by Alexander Green in his Oxford Microcap Trader newsletter. Here is what Alexander Green had to say about this stock:

“This one is a dirt-cheap play on one of the largest private aviation companies in the world. The firm is expanding its addressable market by an incredible 900%. It just announced record revenue growth of 49% year over year. It’s grown membership by 20% this year. Even though it’s the leading company in this sector with huge growth, its stock is trading at just $2 a share.”

On November 9, Wheels Up Experience Inc. posted earnings for the fiscal third quarter of 2022 in which it outperformed EPS expectations by $0.04. The company reported a revenue of $420.36 million, up 39.20% year over year, and ahead of Wall Street consensus by $38.31 million.

At the end of Q3 2022, 17 hedge funds were bullish on Wheels Up Experience Inc. and held stakes worth $8.3 million in the company. Of those, Jim Simons’ Renaissance Technologies was the largest shareholder in the company and disclosed a position worth $2 million.

3. Tellurian Inc. (NASDAQ:TELL)

Share Price as of January 6: $1.79

Number of Hedge Fund Holders: 21

Tellurian Inc. is a Houston-based energy company focused on delivering natural gas to the global market. The stock was teased by Porter Stansberry in his newsletter, The Big Secret on Wall Street (This Week). Here is what the publisher said:

“Its founder is the man who started the entire LNG boom in the United States… Building the first independent (non-major oil company) LNG export facility in 2010-2014, a stock that has gone from around $5 to over $150, a return of ~2,900%. Now he’s about to do it again… … THE EMERGING LNG GIANT”

Tellurian Inc. currently trades below $2, at $1.79 per share as of January 6, and is bound to skyrocket as the LNG boom plays. Tellurian Inc. is ranked among the penny stocks that can make you a millionaire.

At the end of Q3 2022, 21 hedge funds disclosed positions in Tellurian Inc.. The total value of these stakes amounted to $76.6 million. As of September 30, D E Shaw is the top investor in the company with a position worth $20.7 million.

2. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Share Price as of January 6: $1.52

Number of Hedge Fund Holders: 24

Ginkgo Bioworks Holdings, Inc. is an innovative and emerging biotech company that is involved in cell programming for the production of products including novel therapeutics, food ingredients, and chemicals derived from petroleum. As of January 6, Ginkgo Bioworks Holdings, Inc. is trading at $1.52 a share and is placed among the penny stocks that have the potential to rake in millions.

Last November, Berenberg analyst Gaurav Goparaju started coverage of Ginkgo Bioworks Holdings, Inc. with a Buy rating and a $6 price target.

Whitney Tilson teased Ginkgo Bioworks Holdings, Inc. in his newsletter, Empire Stock Investor. Here is what he said:

“Its management team is elite, including the former CEOs of MGM and Bayer, a highly regarded MIT scientist, and a billionaire businessman. They specialize in a revolutionary technology – one that could transform every industry on the planet. And they’re a market leader in an industry that’s projected to be worth $4 trillion in the coming years.”

At the end of Q3 2022, 24 hedge funds held stakes in Ginkgo Bioworks Holdings, Inc.. The total value of these stakes amounted to $956 million.

1. Farfetch Limited (NYSE:FTCH)

Share Price as of January 6: $4.92

Number of Hedge Fund Holders: 50

Farfetch Limited is an online luxury fashion retailer based in London. The company has been leading the space since 2007 and has a prominent global footprint. The stock was teased by Alexander Green in his Oxford Microcap Trader newsletter. Here is what Alexander Green said:

“It’s 100% dedicated to discounted luxury fashion. Annual revenue already exceeds $2.3 billion. And it’s growing at a huge 35% annual rate…. Just like its clothing, this company is trading a huge discount. And the stock is trading for less than $10. It has huge upside potential and limited downside risk.”

On December 2, JPMorgan analyst Doug Anmuth maintained his $15 price target and an Overweight rating on Farfetch Limited. As of January 6, the stock is trading at $4.92. Farfetch Limited is one of the promising penny stocks that can potentially become a million dollar investment.

At the close of Q3 2022, 50 hedge funds were long Farfetch Limited and disclosed positions worth $912 million in the company. Of those, Atreides Management was the dominant stockholder in the company and held a stake worth $81.3 million.

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