10 Best American Penny Stocks to Buy Now

7. JetBlue Airways Corporation (NASDAQ:JBLU)

Stock price as of May 6th: $4.40

Number of Hedge Fund Holders: 33

JetBlue Airways Corporation (NASDAQ:JBLU) is a US-based low-cost airline operating over 1,000 daily flights to more than 100 destinations across the United States, Latin America, the Caribbean, Canada, and Europe. The company is headquartered in New York, but maintains major hubs in JFK airport, Boston, Fort Lauderdale, Los Angeles, Orlando, and San Juan.

JetBlue Airways Corporation (NASDAQ:JBLU) faced challenges in Q1 2025 due to weakening demand and an uncertain economic environment, with capacity down 4.3%. The company is taking decisive actions to address these challenges, including reducing capacity, limiting discretionary spending, and reevaluating fleet plans. Despite these headwinds, management remains committed to its long-term JetForward strategy, which aims to drive transformational change and return the airline to sustained profitability.

On the positive side, JetBlue Airways Corporation (NASDAQ:JBLU) is seeing some positive trends, including strong performance in premium segments and international markets, as well as improvements in operational metrics like A14 and Net Promoter Score. The company is also making progress with cost transformation initiatives and expects savings to ramp up in the second half of the year. Additionally, the company is pursuing new opportunities, such as a potential domestic airline partnership and expansion into secondary cities, which could provide future growth avenues. JBLU is down more than 40% since February 2025, under what we believe are temporary capacity headwinds induced by uncertainty and tariffs. JLBU is one of the best American penny stocks to buy now as it is currently trading at only 0.17x Price-to-Sales ratio.