5G Penny Stocks: High-Risk, High-Reward Bets In 2024 💰

March 19, 2024

5G Penny Stocks To Buy

Best 5G Penny Stocks to Buy in 2024

The 5G rollout is well underway, bringing unprecedented connectivity speeds and opening doors to a range of new technologies and applications. If you're an investor with a high risk tolerance and have done extensive research, certain 5G penny stocks might pique your interest. Let's look at a few to keep on your radar in 2024:

Globalstar (GSAT)

Dynamic Stock Chart for TICKER GSAT

Globalstar is a satellite communications company with a growing focus on 5G offerings. Its satellite network could play a role in expanding 5G coverage, especially in harder-to-reach areas. However, exercise caution with this penny stock as any reliance on potential future partnerships or regulatory decisions for growth adds a layer of risk.

  • Partnerships are key: Globalstar's growth may depend heavily on securing agreements with major telecom players.
  • Regulatory landscape: Changes in satellite communications regulations could impact its 5G plans.

Disclaimer: Penny stocks, particularly within emerging technologies like 5G, involve a very high degree of risk. They are prone to volatility, low liquidity, and potential lack of transparency. The companies mentioned are provided for discussion purposes only and do not constitute investment recommendations. Always perform extensive due diligence and consult with a financial advisor before making any investment decisions.

5G Edge (EGED)

Dynamic Stock Chart for TICKER EGED

5G Edge focuses on developing software solutions to enable seamless and secure data flow for 5G applications. The potential for software in the 5G landscape is huge, but this penny stock carries the risks associated with an early-stage company trying to secure significant market share.

  • Competitive market: The 5G software space is crowded, and 5G Edge will need to carve out its niche.
  • Adoption matters: Success depends on widespread use of its software solutions by telecoms and enterprises.

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RF Industries (RFIL)

Dynamic Stock Chart for TICKER RFIL

RF Industries designs and manufactures a diverse array of radiofrequency (RF) components and connectivity systems essential for 5G networks. As the 5G build-out continues, companies specializing in the necessary underlying hardware and infrastructure could experience growth, just be vigilant about its financial health.

  • 5G infrastructure backbone: Demand for RF components should rise as networks expand.
  • Financial stability: Scrutinize the company's balance sheet and debt levels, ensuring their ability to scale production.

MoSys (MOSY)

Dynamic Stock Chart for TICKER MOSY

MoSys develops semiconductor memory technologies and designs focused on accelerating data transfer within networks. Increased speed and bandwidth needs in the 5G era could drive demand for MoSys's solutions, but keep an eye on their ability to compete in a crowded market.

  • Data-hungry world: 5G's need for speed plays to MoSys's strengths.
  • Competitive landscape: Success depends on staying ahead of larger semiconductor players in the space.

Cellectar Biosciences (CLRB)

Dynamic Stock Chart for TICKER CLRB

Cellectar Biosciences operates in the biotechnology sector. While it has some connection to 5G through its involvement in medical device development, this penny stock will be heavily impacted by biotech-specific developments such as clinical trial outcomes. This adds an additional level of risk beyond that of traditional 5G companies.

  • Biotech volatility: Clinical trial success or failure will significantly influence stock price, even more so than 5G news.
  • Long-term horizon: Biotech investments often require a patient approach with multiple years of development timeline.

Resonant (RESN)

Dynamic Stock Chart for TICKER RESN

Resonant focuses on designing filters for radiofrequency (RF) front-ends used in 5G devices and networks. As with other component providers, their success hinges on their design's adoption and market penetration.

  • Adoption is Key: Wide-scale use of Resonant's filters in 5G devices and infrastructure would drive growth.
  • Competitive Market: They'll need to stand out from other RF component manufacturers to secure market share.


Dynamic Stock Chart for TICKER PCTI

PCTEL specializes in antenna and wireless testing solutions vital for ensuring optimal 5G network performance. Its testing focus adds a slightly different angle, but as with any penny stock, be aware of their financial fundamentals and potential for growth.

  • 5G Network Quality: PCTEL's role in testing could be crucial as networks need to meet high expectations.
  • Beyond 5G: Their testing solutions could be applicable to future generations of wireless technology as well.

GigCapital6, Inc. (GIGGU)

Dynamic Stock Chart for TICKER GIGGU

GigCapital6 is a SPAC (Special Purpose Acquisition Company) specifically focused on potentially acquiring companies in the 5G ecosystem. SPACs are an incredibly risky way to invest in a sector. They contain a higher level of uncertainty due to lack of clarity on a future acquisition target. Do extensive research before considering any SPAC investment.

  • The Mystery Target: The success of a SPAC hinges entirely on the quality of the company it acquires.
  • Due Diligence is Crucial: Thoroughly research GigCapital6's management team and their track record with previous SPACs.

PDL Biopharma (PDLI)

Dynamic Stock Chart for TICKER PDLI

PDL Biopharma is a biopharmaceutical holding company that derives revenue from licensing agreements and royalties on its patented assets. It may have some tangential connection to 5G via the healthcare technology sector, but like Cellectar Biopharma, biotech-specific events would play a more significant role in its stock price than 5G itself.

  • Licensing Focus: PDL Biopharma's revenue heavily depends on the success of its licensed technologies.
  • Biotech Volatility: Clinical updates on its portfolio of assets will overshadow general 5G news.

Airspan Networks Holdings (AIRN)

Dynamic Stock Chart for TICKER AIRN

Airspan Networks Holdings provides 5G network hardware and software solutions for both public and private networks. This positions them in a potentially lucrative niche within the 5G expansion, but as with all early-stage penny stocks, be aware of its fundamentals and overall viability.

  • Private Network Potential: Growth of 5G private networks for enterprises could be a significant market for Airspan.
  • Financial Health: Examine their ability to scale production and meet the potential demand for their solutions.


Penny stocks, particularly in the rapidly evolving realm of 5G, come with extremely high risk. They might offer the potential for significant gains, but the possibility of losing your investment is equally high.

Before venturing into penny stocks, conduct thorough due diligence, understand the risks involved, and only invest money you can afford to lose.

Other Recommendations

Over the years I've reviewed DOZENS of Investment newsletters. As a result of this, I've also spent quite a bit of time doing reviews of my FAVORITE Stock & Investment Newsletters, which you can read below!

I recommend checking out The Power Gauge ReportLouis Navellier’s Growth Investor, Fry's Investment Report, Commodity Super Cycles & of course the Oxford Income Letter.

These are all created by experts at the VERY top of their game, and are 100% worth checking out!

About the author 

Jenna Lofton, an expert in stock trading, investing, and financial planning, combines over a decade of experience with rigorous academic training. Holding dual MBAs in Finance and Business Administration from the University of Maryland, Jenna's expertise is grounded in a deep understanding of the financial markets. Her career, which started on Wall Street, has evolved into empowering others through her insights and analyses in the dynamic world of finance.

Based in New York City, Jenna's approach is informed by her hands-on experience as a former financial advisor and her keen observation of market trends. She is known for translating complex financial concepts into actionable strategies, making her a valuable resource for both seasoned investors and newcomers to the stock market. Her commitment to financial literacy and her ability to demystify investment principles have made her a respected and authoritative voice in the investment community.

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