Tuya Inc. (NYSE: TUYA) saw its stock price soar by 5.12% in Wednesday's trading session, highlighting the potential of well-positioned penny stocks in the current market. This significant uptick comes as Tuya garners attention as one of the top penny stocks in the United States, according to recent market analysis.

Tuya, with a market capitalization of $2.35 billion, stands out in a list of promising penny stocks, trading at $3.71 per share. What sets Tuya apart is its impressive financial health rating of 6 out of 6 stars, indicating strong financial stability despite its penny stock status. This robust financial position could be a key factor attracting investors and contributing to the stock's upward movement.

The broader context of the U.S. stock market, which has been facing challenges with technology shares leading recent declines, may be driving investors to seek opportunities in smaller or newer companies. Penny stocks like Tuya, particularly those with strong financial health and growth potential, are becoming increasingly attractive to investors looking to uncover hidden value in a uncertain market landscape.