3 Promising Penny Stocks On US Exchanges With Over $100M Market Cap

In the dynamic world of penny stocks, investors often overlook companies with a market capitalization over $100 million. However, these overlooked gems can offer significant growth potential and attractive returns. In this article, we will explore three promising penny stocks listed on US exchanges with a market cap exceeding $100 million.



1. Archer Aviation (ACHR)
Archer Aviation is a promising player in the eVTOL (electric vertical takeoff and landing) market, with a strong order backlog of $3.5 billion. The company is establishing a presence in global markets, with orders from the United States, UAE, and India. Archer is expected to commence mass deliveries in 2025, which should swell the backlog further. With a liquidity buffer of $625 million, the company has ample flexibility for investments in the next 12 to 18 months. ACHR is trading at a forward P/E of around 10x, which is relatively low compared to other eVTOL stocks, indicating potential upside.



2. Bitfarms (BITF)
Bitfarms is a cryptocurrency mining company with a strong focus on Bitcoin. The company has a zero-debt balance sheet and a liquidity buffer of $118 million, ensuring financial stability. Bitfarms is targeting a hash rate capacity expansion to 21EH/s by the end of 2024, which should drive revenue and cash flow growth if Bitcoin continues to trend higher. BITF is trading at a P/E of around 15x, which is undervalued considering its growth prospects. The company's expansion into Alaska's antimony-rich regions aligns with U.S. critical mineral initiatives, enhancing its strategic position in the market.

3. Tilray Brands (TLRY)
Tilray Brands is a cannabis company with a strong presence in the recreational and medicinal cannabis markets. The company has a big addressable market for recreational and medicinal cannabis, with the potential for growth in the craft beer business. Tilray is pursuing multiple acquisitions and has positioned itself as the fifth-largest craft beer brewer in the United States. With a market cap of $1.57 billion, TLRY is undervalued compared to its growth prospects. The company's strategic infrastructure positioning in the United States sets the stage for aggressive cannabis expansion on potential federal-level legalization.



In conclusion, these three penny stocks with a market cap over $100 million offer promising growth opportunities for investors. By focusing on their strong fundamentals, growth catalysts, and attractive valuations, investors can identify potential multibagger returns within the next 18 to 24 months. As the market outlook remains positive, with the likelihood of rate cuts in the second half of the year, penny stocks are likely to be in the limelight. Stay informed about these promising opportunities and make strategic investments to capitalize on their growth potential.