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Following are 03 of the hottest penny stocks (in no particular order) on the market right now. These fundamentally strong penny stocks are from varied sectors and have the potential to offer impressive returns.

Level 3 Communications Inc. (NASDAQ: LVLT), this Integrated communications service company has not only shown an amazing growth of 23% in the past week but it's penny stocks are also up by 88% since the start of 2011.
Capstone Turbine Corp. (NASDAQ: CPST), this microturbine technology solutions company has posted quarterly revenue growth of 51% year over year, last quarter.

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The chemical and radiation detection monitor developer company, RAE Systems Inc. (AMEX: RAE) , with an impressive 140% increase in penny stocks in the last 12 months is at number three on our list.
In spite of being a greater risk option as compared to other stock options, penny stocks are worth dabbling with in the present market scenario.

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Three Miami businessmen have been charged with civil fraud by the SEC for promoting penny-stocks of supposed energy companies that were in fact complete shams. The Miami-based firm Wall Street Capital Funding LLC knowingly played a critical role in these scams by creating and distributing promotional material for so called "ghost companies".

PrimeGen Energy Corp. is one such company that in reality never existed. It was supposed to be head-quartered in Bridgewater, New Jersey with operations in Russian oil fields that generated millions in revenues. However, it turns out that PrimeGen's corporate headquarters was a box in a UPS Store, it's phone line was unattended and it's web page was a copy of source code from another company's site. It will be difficult for investors to recover any money in this case because it is probably already in a Caribbean Banking Center account, and the perpetrators are likely long gone across the border by now.

Stunning stocks has developed a new computerized program that could change the game of penny stock investment forever. Penny stocks have long been an intriguing investment option due to their strong growth potential.

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Penny stocks are small stocks that are valued at below 5 dollars per share. These are shares of small companies, the right gamble, like Google or Facebook at their infancy you could potentially win big.

However, picking the right penny stocks is difficult and time consuming as it requires a lot of analyzing of different companies and their figures.

Stunning stocks' new computer program- Stunning Sticks, could make this process a lot simpler. This new computerized solution evaluates penny stocks 100 times faster than a human being. Developed by a former program developer from one of the largest brokerage firms, this program is now available to general public.