Tuya Inc. (NYSE: TUYA), a leading IoT cloud platform company, saw its stock soar by 6.78% in Wednesday's trading session, outperforming the broader market. This significant uptick follows the company's recent recognition as one of the top penny stocks in the United States, boasting an impressive financial health rating.

According to a recent analysis of penny stocks, Tuya stands out with a perfect six-star financial health rating, the highest possible score. This recognition underscores Tuya's solid financial foundation, which is particularly noteworthy in the often-volatile penny stock segment. With a market capitalization of $1.16 billion, Tuya presents an intriguing opportunity for investors looking for undervalued companies with long-term potential in the IoT sector.

The surge in Tuya's stock price is especially remarkable given the recent 4.4% drop in the overall U.S. market over the past week. As investors seek alternatives in a challenging market environment, Tuya's strong financial position and inclusion in this select group of promising penny stocks appear to have fueled the significant price increase. This development suggests growing investor interest in companies that offer surprising value and greater stability within the penny stock category, with Tuya positioning itself as a standout in this space.