5 Penny Stocks With High Growth Potential

In this article, we will take a look at the 5 penny stocks with high growth potential. If you want to read our discussion on penny stocks and their historical performance, go directly to the 10 Penny Stocks With High Growth Potential.

5. Volta Inc. (NYSE:VLTA)

Number of Hedge Fund Holders: 9

Volta Inc. (NYSE:VLTA) is a San Francisco, California-based developer of EV charging stations across the US. The company also uses its network of stations to execute digital out-of-home (DOOH) advertisements.

The US government intends to invest $5 billion to construct 500,000 charging stations across the US as there is a lack of enough charging stations across highways. For instance, the US state of Montana is spread over a massive area of 147,000 square miles and only has 57 EV charging stations. Most of these stations are located in towns and cities instead of on the highways. Volta Inc. (NYSE:VLTA) has a strong outlook as analysts expect the company to fund the capital expenditure related to expanding its network and capitalize on the growing demand for EV charging stations.

As of Q2 2022, 9 hedge funds reported owning a stake in Volta Inc. (NYSE:VLTA).