Hot ‌Penny‌ ‌Stocks in Tech:‌ ‌Top‌ ‌Picks‌ ‌for‌ ‌2024

The market continues to experience wild swings and tech penny stocks are some of the hottest stocks to trade…

Big names such as Apple (NASDAQ: AAPL), Tesla (NASDAQ: TSLA), and Amazon (NASDAQ: AMZN) are thriving in the current environment and dominating their respective markets.

The thing is … A lot of these big-name tech stocks are out of reach for traders with smaller accounts. So are there any tech penny stocks that traders should watch? You bet.

Today we’ll look at the top 10 tech penny stocks to watch. These stocks are lower priced … and have the potential to move BIG in the current stock market.

Let’s take a closer look.

What Are Technology Penny Stocks?

Despite the name, the term ‘penny stock’ doesn’t mean a stock is only worth a few pennies.

Generally, when we talk about penny stocks, we’re referring to stocks that trade for $5 per share or less. Some might consider stocks that trade for $10 or less per share penny stocks.

Though some penny stocks trade on the larger exchanges such as the Nasdaq … Many trade through market makers via over the counter (OTC) transactions. So why such low prices?

Well, most of these companies are relatively new or small … They haven’t established a track record for a successful business. They often don’t have great financials, and that makes them a riskier investment.

That’s why in our SteadyTrade Team mentorship program, we focus on trading instead of investing. We teach our members how to build trading strategies, key market education, how to find stocks, and more. Boost your market and trading IQ — join the SteadyTrade team.

Sometimes these crappy companies turn in success stories … but usually, they fizzle out.

What Do You Need to Know About Tech Penny Stocks?

Both tech penny stocks and higher-priced tech stocks have been moving in the current market … which shows that innovation can draw in the big money.

But how long will it last? No one knows. Sooner or later the market will change again.

Make sure to treat tech penny stocks the same as you would any other stock. Only trade them when they fit your particular setups.

Now, let’s get on with the list.

Top 10 Tech Penny Stocks to Watch

Riot Blockchain Inc. (NASDAQ: RIOT)

RIOT is one of our favorite crypto plays.

This is a digital currency company with several cool blockchain technologies.

RIOT’s price tends to follow the price of Bitcoin, which has been steadily rising since March … It’s now over $11,000. Bitcoin’s price is approaching a significant resistance level. If it breaks out, Bitcoin could be on fire.

If that happens, RIOT will likely follow. RIOT was under 60 cents in March and recently broke $4. This is a great pick for a tech penny stock watchlist.

Emagin Corp. (NYSE: EMAN)

Emagin is a cool company that develops and manufactures organic light-emitting diode microdisplays.

These microdisplays are used by the military for a variety of applications — aviation helmets, weapon targeting systems, night vision.

It recently won a couple of contracts from the Department of Defense. One in June for $5.5 million and another one in July for $33.6 million.

EMAN has run in the past and has been steadily rising since March. It recently hit 52-week highs.

Nokia (NYSE: NOK)

There’s a lot of excitement about 5G technology. When 5G becomes a reality in our lives, it’ll be a game-changer.

The internet speeds will be so much faster. New companies and technologies will compete to meet new demands. Wearable fitness devices that can monitor your health in real-time and alert your doctor in an emergency is just one example.

Pretty cool, right?

Well, now that the Chinese company, Huawei, is excluded from 5G networks due to national security issues … it leaves an opening for NOK.

This is speculative … but NOK’s potential as a low-priced 5G play is juicy.

Vislink Technologies, Inc. (NASDAQ: VISL)

As every successful trader knows, challenges and changes in the world provide opportunities in the market.

VISL is a company that makes wireless cameras and drones for the military, law enforcement, and government.

With all the civil unrest in the country in the form of protests and riots, there’s an opportunity for VISL to increase sales. This stock is a former runner and worth watching.

Phunware Inc. (NASDAQ: PHUN)

PHUN is a cloud-computing platform that powers mobile engagement and experiences … Basically, it’s a remote-work play.

The pandemic is forcing people to work from home, and they need technology to do it.

Zoom Video Communications (NASDAQ: ZM) is a remote-work stock that has been on fire. But you may not be able to play it since it trades for over $250 a share …

In that case, PHUN is a great stock for your tech penny stock watchlist.

Microvision Inc. Washington (NASDAQ: MVIS)

MVIS develops scanning technology to create high-resolution mini-projection solutions.

It recently had a rally on the hype that Microsoft would acquire it. But that’s a rumor and may never happen…

Still, MVIS has good volume, and a lot of traders are watching it. That’s a good case for watching this low-priced tech stock.

Ideanomics Inc. (NASDAQ: IDEX)

IDEX is a fintech company that helps with the adoption of commercial electric vehicles.

With the rising popularity of green energy … and the big stock moves in the electric vehicle sector — such as Tesla (NASDAQ: TSLA) — IDEX is a good low-priced option to watch.

This stock has run in the past. It’s also attracting good volume.

Inpixon (NASDAQ: INPX)

INPX is a company with really cool technology and an interesting idea. It uses indoor mapping, positioning, and analytics to create smart workspaces.

Eventually, some large businesses will bring workers back to their offices. One of the challenges they’ll face is how to do that intelligently.

INPX’s platform can help those companies enforce “no work” zones. It could help maintain social distancing and track traffic at entry, exit, and dwelling areas.

It’s a new world, and INPX may be a solution that catches on. As far as the stock, when it runs, it runs big. Its ability to move and the volume it attracts earns it a position on this list for sure.

Boxlight Corporation (NASDAQ: BOXL)

BOXL is both an e-education and remote work play. The company uses tech to help create interactive learning solutions.

One thing BOXL provides is training for teachers. We don’t know how long the pandemic will continue … And even after it’s over, there’ll probably be some form of online element to teaching.

One thing’s for sure, many teachers across the country will need training to improve distance learning.

Hewlett Packard Enterprise Co. (NYSE: HPE)

A lot of people may not know it, but HPE is now a low-priced stock. As of writing this, it’s under $10.

HPE is a huge company. And it’s considered a remote-work play because it provides laptops, PCs, and printers people need to work from home.

It’s also kind of a boring stock because it’s not a big mover.

But it’s not every day that you can buy a stock with a $13 billion market cap at penny stock prices. That’s exactly why it makes the list.

What to Look For in Tech Penny Stocks

If you want to find tech penny stocks to trade, look for big percent movers. 

You don’t want to trade a stock just because it’s in tech or any other sector … You want to find one that’s already moving.

So how do you find them? Start with good scanning software, like StocksToTrade. 

StocksToTrade has 40+ built-in scans you can use out of the box. And if you want to make your own customized scans, you can do that with StocksToTrade too.

Another thing that you want to look for is a good news catalyst. Stocks need the right volume and momentum to make those big gains traders love. The right catalyst can make that happen. 

The Breaking News chat feature focuses on finding the news catalysts that can really move lower-priced stocks. Learn more and sign up for a trial of both StocksToTrade and Breaking News chat here.

The Top Brokers for Trading Tech Penny Stocks

Picking the right online broker has a lot to do with your trading strategy and your personal preferences. There isn’t a broker that focuses on tech stocks, specifically.

All the stocks on the list above are listed stocks, meaning they can be found on the major exchanges. But if you want to trade OTC stocks, make sure you choose a broker that allows that.

And pick an online broker that’s safe. Putting your money with some brokers can riskier than others. Also, some brokers are better for certain setups than others.

It’s important that you do your research before you choose one that’s right for you. If you need further help, check out this post on how to choose a broker.

Should You Trade Tech Penny Stocks?

The answer to this question depends on your risk level. But there can definitely be some benefits to trading tech penny stocks.

First, you don’t need a big account to get started. Since tech penny stocks are priced on the low end, traders with small accounts can afford them.

Second, it’s easy to get started. You don’t need any special certification or diploma to trade tech penny stocks. All you need is a laptop, an internet connection, and a brokerage account.

Third, because tech penny stocks don’t have the best fundamentals, a lot of them have the potential to drop in value. So some savvy traders train to trade on the way up (long positions) and on the way down (short positions).

The keyword here: training. Trading stocks well and consistently takes education, focus, and strategy. That’s the core of our SteadyTrade team. You get twice-daily webinars, tons of educational materials, and coaching with me, Mike “Huddie” Hudson, and Kim Ann Curtin, the Wall Street Coach.

See what it’s like to learn with me every day — for FREE. I host twice-daily live sessions on Instagram daily at 8:30 a.m. and noon Eastern. Follow StocksToTrade on Instagram so you can join these sessions. See you there!

Are 5G Penny Stocks Considered Tech Penny Stocks?

5G penny stocks are definitely considered tech penny stocks. 5G technology is about to shake up the cellphone market. It can provide faster and more reliable data connections that will change the whole technology game.

Brand new markets and businesses will exist because of it. And old ones will have to adapt with incredible improvements or risk failing in the modern world.

Not only is 5G a technology — it stands to spur the growth of new technologies.

Conclusion

There you have it, the top 10 tech penny stocks to watch.

You don’t have to have a huge account to trade tech stocks. If you do your research, you’ll see that there are a lot of opportunities in penny stock land.

The important thing is to understand that tech stocks — in and of themselves — don’t make a great trading candidate. You have to make sure that any tech penny stocks you trade fit your particular setups, are liquid, and provide a good risk/reward ratio.

Ready to learn more about tech penny stocks and beyond? Join the SteadyTrade Team. 

Every trading day, you get mentorship, trading education, guidance, and more. You’ll also be surrounded by a great community of like-minded traders who are pushing to improve in the markets. 

It’s all to help you build a process and become a smarter trader.

Which tech penny stocks are on your watchlist? Leave a comment below! We love to hear from you.