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What Are the Top Canadian Penny Stocks to Watch in 2021?

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Summary：Discover the top Canadian penny stocks worth watching in 2021, including Neptune Wellness, Hut 8 Mining, and Bombardier. Take risks for high rewards with these volatile stocks.

Introduction

Penny stocks are low-priced stocks that can offer high returns to investors if they choose the right ones. The Canadian stock market has several penny stocks that are worth watching in 2021. In this article, we will discuss the top Canadian penny stocks to watch this year.

1. What are penny stocks?

Penny stocks are stocks that trade for less than $5 per share. These stocks are often associated with small-cap companies that have the potential for high growth. However, penny stocks are often considered high-risk investments due to their volatility and lack of liquidity.

2. Why invest in penny stocks?

Investing in penny stocks can be a high-risk, high-reward strategy. If you choose the right penny stocks, you can potentially make significant returns on your investment. However, if you choose the wrong stocks, you could lose your entire investment.

3. Top Canadian penny stocks to watch in 2021

a) Neptune Wellness Solutions Inc. (NEPT.TO)

Neptune Wellness is a cannabis-focused health and wellness company that operates in Canada and the U.S. The company has a strong focus on research and development and has several patents pending for its products. In the last year, Neptune's stock has increased by 83%, making it a top penny stock to watch in 2021.

b) Hut 8 Mining Corp. (HUT.TO)

Hut 8 Mining is a cryptocurrency mining company that operates in Canada. The company uses renewable energy sources to mine Bitcoin and other cryptocurrencies. In the last year, Hut 8's stock has increased by 177%, making it a top penny stock to watch in 2021.

c) Bombardier Inc. (BBD-B.TO)

Bombardier is a multinational aerospace and transportation company that operates in Canada and other countries. The company has a strong focus on innovation and has several patents for its products. In the last year, Bombardier's stock has increased by 197%, making it a top penny stock to watch in 2021.

4. Conclusion

Investing in penny stocks can be a high-risk, high-reward strategy. However, if you choose the right penny stocks, you can potentially make significant returns on your investment. The Canadian stock market has several penny stocks that are worth watching in 2021, including Neptune Wellness, Hut 8 Mining, and Bombardier. As always, investors should do their due diligence and research before investing in any penny stock.

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Canada penny stocksNeptune WellnessHut 8 MiningBombardierhigh-risk investments
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