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Growth stocks that actually live up to their tag are the darling of most successful stock market investors, the crown jewel of the stock market. And I believe that the greatest promise for growth investors would be to invest in growth stocks at a cheaper price as history and basic maths reveals.

A $10,000 investment in Tesla back when it traded around $5 per share, will be valued over $1,300,000 today: Incredible, life-changing ROI.
Checkout: 8 Cheap Electric Vehicle (EV) Penny Stocks under $10 and $5
However, it’s not easy to find promising growth stocks that can live up to their hype, otherwise, everybody will be successful stock investors with portfolios that return crazy ROIs, over and over again.
Hence, you can imagine the effort required to find growth penny stocks with the potential to grow wildly, especially since most ‘spotlight’ growth stocks trades way over $10.
Irrespective of stock prices, growth stocks have a lot in common, and one major thing they have in common is that they’re stocks with a great deal of exposure to an emerging market with a market size that can potentially become a multi-billion or even a multi-trillion dollar market.
The Renewable energy market, Fintech market, autonomous driving market, and the food delivery market, for example, are budding markets that are yet to reach their full potential.
Renewable Energy Penny Stocks to consider in 2023.
Companies with a great deal of exposure to these markets and have tangible strategic offerings are more likely to grow enormously, as customers repay them with recurring purchases directly or otherwise. And in return these companies typically repay investors with mind-blowing ROIs.
If you are looking for cheap growth stocks with great potentials, here are 5 growth penny stocks under $10 and $5:
1. Ideanomics, Inc. (IDEX)
Ideanomics is mostly referred to as a financial technology company headquartered in New York, however, most of the company’s revenue is coming from its EV business. The company currently fronts as a FinTech company and promotes itself heavily as an EV company concurrently, capitalizing on the popularity of and Wall Street’s bullishness on the two sectors.
The company is so multifaceted that a lot of investors and traders find it difficult to understand what it’s all about, and some even question if it is a real company. To understand IDEX, one has to go back to the very beginning.
Ideanomics was founded in 2004 and went public as a media company in 2017, and over the years, through a series of acquisitions, the company has positioned itself as ‘many things’. It incorporates artificial intelligence and blockchain technology in building out its fintech products, as such it’s an AI, Blockchain, Fintech, and EV stock, basically, the kind of story stock Wall Street traders love to swing.
Simply put, the company’s focus is basically investing in trending technologies. It invested in cryptocurrencies, IoT, and autonomous driving among other trending themes. The company’s portfolio includes dbot, Intelligenta (an AI-based solution), Liquefy (a blockchain technology platform), Logistorm (an IoT company), Solectrac (a smart electric tractor company), Timios (a real estate transaction platform), Treeletrick (an electric bike company) and Wave (an EV charging solution provider).
In a market that is extremely speculative, IDEX is the perfect stock for experienced speculators and short-term story traders. You could make a lot of money swinging this stock, In Mid-November 2020, its stock traded around $1 per share, 9-10 weeks later it was trading around $5 per share. Over 400% return in 9 – 10 weeks!
And I also believe that there could be a long-term play with IDEX. The company is investing in really promising markets, as such, it should not be downplayed, IDEX could become another NIO (I wouldn’t be surprised if it does). Investors today buy stories and IDEX has a lot of promising stories to sell.
2. LexinFintech Holdings ltd.
LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young professionals in the People’s Republic of China.
The company operates Fenqile.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms; and Le Card, a membership platform, which offers savings, benefits, and membership privileges to food and beverage, apparel, hospitality, and leisure sectors.
It also matches customer loans with diversified funding sources, including individual investors on its Juzi Licai online investment platform, third-party commercial banks, consumer finance companies, institutional funding partners in its direct lending programs, investors of its asset-backed securities, and other licensed financial institutions.
The company was formerly known as Staging Finance Holding Ltd. and changed its name to LexinFintech Holdings Ltd. in March 2017. LexinFintech Holdings Ltd. was founded in 2013 and is headquartered in Shenzhen, the People’s Republic of China.
3. Himax Technologies
Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States.
The company operates in two segments, Driver IC and Non-Driver Products.
It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation, virtual reality devices, and other consumer electronic devices.
The company also designs and provides controllers for touch sensor displays; in-cell touch and display driver integration single-chip solutions; light-emitting diode driver and power management ICs; and liquid crystal on silicon micro-displays for augmented reality (AR) devices and head-up displays for automotive industry.
In addition, it offers digital camera solutions, including complementary metal oxide semiconductor image sensors and wafer level optics for AR devices, 3D sensing, machine vision, and ultra-low power smart sensing, which are used in various applications, such as mobile phone, tablet, laptop, TV, PC camera, automobile, security, medical devices, home appliance, and Internet of Things.
The company markets its display drivers and display-related products to panel manufacturers, agents or distributors, module manufacturers, and assembly houses; and non-driver products to camera module manufacturers, optical engine manufacturers, and television system manufacturers.
Himax Technologies, Inc. was founded in 2001 and is headquartered in Tainan City, Taiwan.
4. Renesas Electronics Corporation
Renesas Electronics is a Japanese Semiconductor Company that offers the usual semiconductor products and services you’d expect, like microcontrollers and microprocessors, amplifiers and buffers, and memory products.
It has been involved in the usual Semiconductor business nothing much around self-driving technologies up until it acquired IDT in 2019.
IDT is an American Semiconductor company with products that are suited and required by automotive companies developing and deploying self-driving technologies.
As a matter of fact, Renesas acquired IDT specifically to boost its self-driving car chip business, in a deal worth $6.3 billion.
IDT has strong power management and memory products which focuses on wireless networks. And the converting and storing of data in connected vehicles demands high levels of data streaming and interaction, a problem IDT products can help solve.
Toyota, the world’s largest seller of cars selected Renesas to provide chips for its self-driving cars back in 2017; a big win for Renesas.
In 2019, Renesas announced it has formed the Autonomous Vehicle Computing Consortium (AVCC) as a core member. Moves like this points out that Renesas is taking the prospect of the self-driving market serious.
The self-driving market is a huge one that has major opening for different players and Renesas is taking the chip way in.
5. Waitr Holdings Inc
Waitr Holdings Inc. provides online food ordering and delivery services in the United States. Its Waitr Platform and Bite Squad Platform facilitate ordering of food and beverages by diners from restaurant partners for pick-up and delivery through a network of drivers.
As of December 31, 2019, the company had approximately 18,000 restaurant partners in 640 cities.
The company was founded in 2013 and is headquartered in Lafayette, Louisiana.

Henry John is a Technology Stock Analyst, with focus on companies developing cutting-edge techs.
Keeping track of cutting-edge techs, companies and stocks is what I do almost everyday. And I love it. Whether it’s artificial intelligence, 5g, or autonomous vehicles; I’m all in.
I’m a self-made millionaire who made most of his money investing in technology companies while working in finance.
Yes! I owe it all to tech and finance.