Penny stocks under $1 are currently offering investors some really affordable entry points into companies that might have significant growth potential in the near future. These small-cap stocks, while certainly risky, can sometimes deliver substantial returns when selected carefully. At the time of writing, there are several promising penny stocks under $1 that appear to show some potential for stock market growth in 2025.

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Best Penny Stocks Under $1: Top Growth Picks & Market Insights

1. Canoo (NASDAQ: GOEV) – EV Innovation

Right now, Canoo is trading at just $0.14 with a market cap of around $144 million, and this penny stock has also unfortunately fallen about 83% in value over the past year. The company currently has less than $8 million in cash reserves, but the potential for growth comes from its impressive $3 billion order book, with approximately $750 million already confirmed from clients such as Walmart and also behemoths like NASA. In many cases, the best penny stocks often have some strong future contracts despite their current financial challenges.

2. Nokia Oyj (NYSE: NOK) – Telecom Giant

Nokia is currently trading at about $5.34 with a much larger market cap of around $21.9 billion. This particular penny stock shows some relative stability with a modest 1.95% gain over the past year. The company also controls approximately 15% of the global telecom equipment market share. Small-cap stocks in established industries such as telecommunications often provide a bit more stability than other penny stocks under $1.

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3. Seanergy Maritime (NASDAQ: SHIP) – Shipping Value

Trading at around $6.46 with a market cap of about $253 million, Seanergy has actually gained an impressive 187% over the past year. The company’s fleet of 14 vessels represents tangible assets that exceed its current market valuation. For investors who are actively seeking stocks to buy now in cyclical industries, shipping penny stocks can offer exposure to the ongoing global trade recovery.

4. Arcadia Biosciences (NASDAQ: RKDA) – Agricultural Innovation

Currently priced at around $2.93 with a tiny market cap of just $3.96 million, this agricultural biotechnology penny stock specializes in improving the nutritional benefits of various crops. Despite a 39% one-year decline, Arcadia‘s focus on sustainable farming represents potential stock market growth as climate concerns continue to intensify.

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All four of these penny stocks under $1 face significant challenges but they also offer potentially outsized returns for investors willing to take on some risk. Small-cap stocks in emerging sectors such as electric vehicles and agricultural technology may benefit from broader market shifts toward sustainability, while the more established industries represented by these penny stocks provide various risk profiles for different types of investors.