Unless you regularly invest in or research penny stocks it’s likely you aren’t familiar with most companies in the space. These penny stock picks aren’t household names because by and large they aren’t big companies and their products and services are largely foreign to consumers. That said, these stocks remain interesting, partly because they’re so cheap. Any stock trading at a fraction of a penny, or in the low-single-digit realm can appreciate rapidly and provide big upside in short amounts of time.

Risky? Sure. But more than that, these penny stock picks provide intrigue and excitement for investors willing to accept the risk.

I’m generally not much into gambling, and these stocks certainly represent gambles more so than investments. However, for those willing to accept the astronomical risk with these stocks, there might be something to consider.

Let’s dive in.

Marijuana Company of America (MCOA)

Cannabis stocks including Marijuana Company of America (OTCMKTS:MCOA) have been a source of investor intrigue for several years following legalization across many jurisdictions.

I’d venture to guess that Marijuana Company of America isn’t one of the cannabis stocks that you’ve heard of. It’s a cultivation, processing, and dispensary firm with just a few employees. Furher, it has a very small $1.98 million market capitalization, meaning there’s simply very little money invested in the company right now.

That isn’t necessarily a problem. However, the risks seem quite evident for this company, given how difficult it is to find information on the company. The most recent information I could find is from 2022 and wasn’t issued by the company itself.

Anyway, what is interesting about MCOA shares is that they trade for a fraction of a penny, currently $0.0002. Over the past month, there have been multiple instances where prices have doubled in a very short time span. While that’s probably due to liquidity and other factors, this is a highly-speculative stock that’s provided proven double-up potential for speculators in recent weeks.

Major League Football (MLFB)

I’m also going to guess that readers have never heard of Major League Football (OTCMKTS:MLFB) or its stock either. That’s because information regarding the business and the stock are very difficult to locate. That’s about as clear an indication of risk as there is. Caveat emptor applies here.

That said, MLFB stock continues to trade at a fraction of a penny. Like the aforementioned cannabis stock, shares of MLFB stock trade at an extremely inexpensive level, around $0.0007 per share. This stock has bounced around between the $0.0006 and $0.0009 levels in recent days, indicating the kind of return potential this high-risk stock provides.

Zooming out, this company’s stock price has been even more volatile in recent months. Shares of MLFB stock tripled within a three week span in March and April. Then they declined by two-thirds in the following weeks. Again, I can’t find much information on this company at all, suggesting this is a stock that is best-suited for true risk takers.

For those interested, I found this list of similarly low-priced stocks that provide potentially massive one day gains.

Autolus Therapeutics (AUTL)

Autolus Therapeutics (NASDAQ:AUTL) stock looks like an impeccably-run firm in comparison to the two firms above. Information is easy to source, and although this company certainly appears to be ultra-risky, it is relatively less so.

Autolus Therapeutics is a biotech firm developing therapeutics that program T cells within patients to kill cancer cells. It trades for $2.87 per share, but might be worth as much as $12.

Fundamentally, Autolus Therapeutics is what many investors might expect from a young biotech company. The stock provides plenty of promise, but that promise comes alongside a lack of results. It receives minimal grant and licensing income while racking up tens of millions of dollars in quarterly losses.

Biotech stocks are notoriously difficult to predict. Investors should logically believe that positive news suggesting continued progress toward commercialization will increase share prices. That isn’t necessarily the case with this company, as positive June 2 news regarding a pivotal study didn’t budge share prices. Nevertheless, AUTL stock is worth a speculative bet, due to its raw upside potential. It’s a gamble, but far less of a gamble than the other companies on this list.

Penny Stocks

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Read More: Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.