21 Best Stocks Under a Dollar Permanent | All You Need to Know

Penny stocks on platforms like Robinhood continue to thrive in the stocks market. I like to say it this way, “the future may not necessarily lie in the hands of stocks, but it sure will find solace within the shores of stocks.”

The reason is not far-fetched; Investing in stocks is one way to grow wealth and wealth, which determines the future of our world.

As defined by the Corporate Finance Institute, a penny stock is a common share of a small public company that is traded at a low price. In the United States, stocks traded at less than $5 are known as penny stocks.

This is not a globally adopted definition. For the United Kingdom, penny stocks are known as stocks that price below £1.

While it is a wise option to seek out and invest in stocks, you must take into due consideration their high volatility and very low liquidity.

In this read, you will learn about the best penny stocks on Robinhood. It is further my hope that the knowledge would spur you to consider investing in stocks.

What is the best investment for 2023?

Though the tech stock market seems to hold a plethora of promises for investors and is envisagable that it will rise in 2023, however, we agree with the Real Wealth Network that some of the best investments for 2023 include;

• Energy Pipelines 
• Real Estate Investment Trusts 
• Overseas Dividend Stocks 
• U.S. Telecom Stocks
• Convertibles 
• Junk Bonds
• Tax-Exempt Muni Bonds
• Taxable Muni Bonds
• TIPS

What are the best stocks under $1?

Some of the cheapest stocks under $1 according to Investor Place include;

• Ampio Pharmaceuticals (NYSE:AMPE)
• Great Panther Mining (NYSE:GPL)
• Gulfport Energy (NASDAQ:GPOR)
• Ferroglobe PLC (NASDAQ:GSM)
• Matinas BioPharma (NASDAQ:MTNB)
• Turquoise Hill Resources (NYSE:TRQ)
• Tanzanian Gold Corp (NYSE:TRX)

How long can a stock stay below $1?

The NYSE officially notifies the business and provides it with six months to lift its stock price and average closing price above $1. This means that for several months before either regaining compliance or being delisted, a stock will theoretically sell for less than $1 on the NYSE.

What happens to stocks under $1?

The shares of a company keep trading on the market for as long as the stock price of a company stays at or above $1. However, the company stands the risk of getting its stock de-listed if the price falls below $1 for too long.

Do I lose my money if a stock is delisted?

A company’s stock no longer trades on one of the main stock exchanges when a business is de-listed. In a direct sense, as delisting occurs, nothing happens to a shareholder. The shareholder still holds the same percentage of the business as before and any willing buyer is free to sell the stock.

Is Robinhood good for penny stocks?

For inexperienced traders and investors with limited portfolios, Robinhood penny stocks are a miracle and have also become especially popular.

Users will exchange NASDAQ and NYSE-listed equities and penny stocks without commissions or secret fees.

21 Best stocks under a dollar Permanent in 2023

We have compiled these 21 stocks that you can invest in. However, be careful with the amount of money you invest in them, simply because, they are often unstable, have low liquidity, and are very volatile.

That established, please find the best penny stocks under a dollar permanent in 2023;

1. Acasti Pharma

Another one of the biotech penny stocks under $1 is Acasti Pharma. The company focuses on biotech treatment development.

Shares hit 52-week lows of $0.171 at the beginning of November. (valium) ACST stock has since managed to climb to highs of $0.4177 this week. 

In its pipeline are products such as CaPre, a therapeutic that is currently in Phase 3 trials to treat hypertriglyceridemia.

Earlier this year the company engaged Oppenheimer & Co. The main reason was to undertake a strategic review of the company with the purpose of exploring strategic alternatives to drive shareholder value. 

This includes potential mergers, acquisitions, or other initiatives that involve Acasti and/or CaPre, its omega 3 product.

Official Site

2. Marathon Oil Corporation

Marathon Oil Corporation simply referred to as Marathon Oil, is an American petroleum and natural gas exploration and production company headquartered in the Marathon Oil Tower in Houston, Texas.

There were plenty of oil and gas stocks experiencing short-term jumps in price. Marathon Oil Corporation (NYSE: MRO), however, was not among these names.

Regardless, the broader focus on oil and gas recovery has certain names, like Marathon, in the conversation. While shares pulled back late last week, MRO stock tested and held above the $3.70-$3.80 area.

For Marathon, in particular, it isn’t all bad sector news. Early in October, the company reinstated its base dividend. It was also able to reduce the company’s debt by about $100 million

Again, heading into November, we’ll have to see if these efforts pay off or if the strain on oil prices will be the bigger force to deal with.

Thus, this is among the cheapest stock on Robinhood and is under $1.

Official Site

3. Nokia Corporation

Nokia Corporation is Finnish multinational telecommunication, information technology, and consumer electronics company. Also, this is one of the cheapest stocks in Robinhood.

Nokia Corporation (NYSE: NOK) was one of the stronger rebound stories after the March sell-off. However, at the end of August things fell apart quickly. The penny stock dropped from over $5 to below $3.50 by last week

However, Nokia has remained one of the most popular penny stocks on Robinhood. Is it because there are few stocks under $1-$5 involved with 5G or could it be another scenario of buying into a “popular name”? Regardless of the why investors have to deal with the when. 

Official Site

4. MFA Financial Inc.

This is a real estate investment trust primarily engaged in the business of investing, on a leveraged basis, in residential mortgage assets, including residential mortgage-backed securities and residential whole loans.

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MFA Financial Inc. (NYSE: MFA) is also one of the top cheapest penny stocks on Robinhood under $1.

Even with the sell-off, this stock has mounted a clear and consistent recovery experiencing very little volatility.

Though it doesn’t see a big, daily swing, MFA stock has bounced back by more than 780% since March.

Official Site

5. Endologic, Inc. (NASDAQ: ELGX)

Endologic, Inc. ELGX is another penny stock in the list of our best penny stocks to buy today. It is sold on the NASDAQ stock market.

Basically, Endologix as one of the new companies to buy penny stocks was founded in 1992. It is focused on developing, manufacturing, and selling medical devices. The devices are used in treating abdominal aortic aneurysms worldwide.

The company offers minimally invasive endovascular aneurysm repair (EVAR), VELA Proximal Endograft, and the Ovation abdominal stent graft system.

It also offers an endovascular aneurysm sealing system (EVAS) product.

On 3rd December, ELGX’s stock price was $0.22. It has a market volume of 7,798,100 and a market cap of 371.83K. Note, the next Earnings Date is Feb 24, 2023.

6. Avinger Inc.

Avinger Inc. is one of the Robinhood penny stocks under $1 you can buy. The firm has a Buy rating on the stock along with a price target of roughly 212% higher than the current trading levels around $0.32.

Aegis’ AVGR stock forecast sits at $1 and was issued back in September. Furthermore,  at the beginning of December Avinger received an extension from the exchange that gives them until May of next year to reach $1.

One of the things Avinger is exploring is a potential reverse stock split of 1:5 and up to 1:20. This will come up for a vote at the company’s shareholder meeting on December 10th.

Official Site

7. Oragenics Inc.

Oragenics Inc. isn’t one of the companies with a price target or analyst rating right now. However, the company has been executing on a few different initiatives.

These have helped compound momentum in the latter part of the fourth quarter. In fact, Since November 20th, OGEN stock has climbed from around $0.38 to highs this week of $0.6499.

That’s over 70% in just a few weeks and resulted from a move of fewer than 30 cents. The company recently closed on a $6 million public offering, which gives the company the capital it needs to expand on its preclinical developments.

Specifically, Oragenics is working on a SARS-CoV-2 vaccine, Terra CoV-2 as well as its lantibiotics program.

Specifically, Oragenics is working on a SARS-CoV-2 vaccine, Terra CoV-2 as well as its lantibiotics program.

8. Best Penny Stocks on Robinhood: Ampio Pharmaceuticals (AMPE)

A lot of small pharmaceutical and biotech names have gotten swept up in the COVID-19 vaccine frenzy. And that’s good news for many of these smaller names. Even if they’re only marginal players, they get some press. That helps them get noticed within the industry, and by investors.

This happened to AMPE. Its Ampion anti-inflammatory drug, which is in trials for osteoarthritis, has entered trials for use in helping COVID-19 patients with respiratory issues. The company has an ongoing IV trial, and just started a study on an inhalable version.

It also has another drug in the pipeline for diabetic macular edema, which affects about 600,000 patients a year in the U.S.

The stock is up 42% year to date.

9. Great Panther Mining (GPL): Best Penny Stocks on Robinhood

Mining companies have been part of the penny stock world for decades. They are typically cheap stocks because the operations are usually small and the work is risky. Mining operations are frequently in foreign countries where conditions are difficult, governments are unstable and logistics are migraine-inducing.

But GPL, a Canadian mining company, has been handling all of the above since 1965. That’s quite a record of survival in this difficult game. Most of its operations are in Peru, in the Andes. It focuses on gold, silver, copper, lead, and zinc.

Generally, smaller miners’ business strategy goes something like this. You find good prospects for industrial metals that usually indicate the presence of precious metals and start digging. The industrial metals keep money flowing while you hope to hit gold and silver.

The stock has a $303 market cap, so it’s not tiny. And gold is a very smart hedge during uncertain times. The stock is up 67% year to date.

10. Gulfport Energy (GPOR)

Aside from mining, oil and natural gas exploration and production (E&P) firms are the other companies that populate this low-price tier.

GPOR, with a market cap of just $57 million is an E&P firm out of Oklahoma focusing on natural gas. It has properties in Oklahoma, the Utica Shale and Louisiana.

This stock usually rides the waves of the energy markets. Its 52-week range has moved between 33 cents and $3 a share. That makes for a wild ride.

The bet here is that energy prices are closer to a bottom than a top, especially as weakness in the dollar is supporting energy prices and the winter season will likely boost demand for natural gas.

The stock is off 89% year to date.

11. Labrador Iron Mines

Labrador Iron Mines Holdings Limited, a mineral resource company, engages in the business of exploration, development, and mining of iron ore projects in Canada.

The company’s principal projects are the Schefferville and the Houston, consisting of the Houston and Malcolm properties, and the Elizabeth Taconite property. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

• OTCMKTS: LBRMF
• Stock Price: $0.19 (+$0.04)
• Consensus Rating: Buy (5 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings)
• Consensus Price Target: $31.40 (16,873.0% Upside)

12. 9 Meters Biopharma

9 Meters Biopharma, Inc., a clinical-stage biotechnology company, focuses on patients with rare disorders and unmet needs. The company’s pipeline includes drug candidates for short bowel syndrome (SBS) and celiac disease.

It is developing NM-002, a long-acting injectable GLP-1 agonist that is in Phase 2 clinical trial for SBS; and Larazotide, a Phase 3-stage therapeutic in development for celiac disease.

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The company also develops NM-003, a proprietary long-acting GLP-2 agonist; and NM-004, a double-cleaved mesalamine with an immunomodulator for developing rare and/or orphan indications. 9 Meters Biopharma, Inc. is based in Raleigh, North Carolina.

• NASDAQ: NMTR
• Stock Price: $0.84 (+$0.08)
• Market Cap: $113.50 million
• Consensus Rating: Buy (5 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings)
• Consensus Price Target: $5.00 (498.8% Upside)

13. Motus GI

Motus GI Holdings, Inc., a medical technology company, provides endoscopy solutions that enhance clinical outcomes and the cost-efficiency associated with diagnosing and managing gastrointestinal conditions in the United States and Israel.

Its flagship product is the Pure-Vu system, a medical device to facilitate the cleaning of a poorly prepared colon during the colonoscopy procedure. The company is based in Fort Lauderdale, Florida.

• NASDAQ: MOTS
• Stock Price: $0.97 (-$0.03)
• PE Ratio: -1.36
• Market Cap: $32.24 million
• Consensus Rating: Buy (5 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings)
• Consensus Price Target: $2.40 (148.6% Upside)

14. CES Energy Solutions

CES Energy Solutions Corp. and its subsidiaries provide consumable chemical solutions throughout the life-cycle of the oilfield.

It provides solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and through to the pipeline and midstream market.

The company’s solutions include corrosion inhibitors, demulsifiers, H2S scavengers, paraffin control products, surfactants, scale inhibitors, biocides, and other specialty products.

It also designs and implements drilling fluid systems and complete solutions for oil and gas producers; and designs and manufactures products and specialty chemicals for use in the oil and natural gas production markets, the stimulation and fracturing markets, and the pipeline and midstream markets.

In addition, the company provides environmental consulting, water management services, and drilling fluids waste disposal services primarily to oil and gas producers; and trucks and trailers to transport products in the oil and gas industry.

It serves the oil and natural gas industry, including multinational producers, intermediate oil and natural gas operators, independent juniors, joint ventures, and pipeline and midstream markets in western Canada and the United States.

The company was formerly known as Canadian Energy Services & Technology Corp. and changed its name to CES Energy Solutions Corp. in June 2017. CES Energy Solutions Corp. was incorporated in 1986 and is headquartered in Calgary, Canada.

• OTCMKTS: CESDF
• Stock Price: $0.95 (-$0.03)
• Consensus Rating: Buy (5 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings)
• Consensus Price Target: $1.85 (94.7% Upside)

15. CaixaBank

CaixaBank, S.A. and its subsidiaries provide banking and financial products and services in Spain and internationally. The company operates through Banking, Insurance, and Non-Core Real Estate Activity segments.

The Banking and Insurance segment engages in the banking business that includes retail banking, corporate and institutional, and cash management, and market service activities; insurance business; and asset management business.

The Non-Core Real Estate segment provides financing for non-core real estate assets, such as non-core developer lending, foreclosed real estate assets available for sale and rental, and other real estate assets and holdings.

As of December 31, 2018, the company served its customers through 5,110 branches comprising 4,608 in Spain and 502 internationally; and approximately 9,425 ATMs in Spain and 1,369 ATMs in Portugal. CaixaBank, S.A. was founded in 1904 and is based in Valencia, Spain.

• OTCMKTS:CAIXY
• Stock Price: $0.90 (-$0.01)
• Consensus Rating: Buy (6 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings)
• Consensus Price Target: N/A

16. MediPharm Labs

MediPharm Labs Corp., together with its subsidiaries, produces and sells pharmaceutical-grade cannabis oil and concentrates for derivative products in Canada and Australia. It also provides cannabis contract processing services to licensed producers and growers, and tolling services to licensed cultivators in Canada.

In addition, the company supplies purified cannabis concentrate raw materials and product formulations for ready-to-sell advanced cannabis products. Further, it engages in the real estate business. The company was founded in 2015 and is headquartered in Barrie, Canada.

• OTCMKTS:MEDIF
• Stock Price: $0.45
• Consensus Rating: Buy (3 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings)
• Consensus Price Target: $1.56 (247.2% Upside)

17. Ferroglobe PLC (GSM): Best Penny Stocks on Robinhood

While most cheap stocks on this list are in pretty straightforward industries, GSM is an interesting player in a niche market. It produces silicon and manganese metals and their alloys for use in everything from solar panels to stainless steel.

It’s pretty vertically integrated and owns its own mines in Spain, South Africa, and the U.S., as well as the factories that refine the mined materials for its customers.

GSM was formed in 2015 by a merger between a Spanish company and an American one. It’s currently incorporated in the United Kingdom.

The pandemic has hurt its business lines, as the global economy has slowed. But a cheaper dollar means its production costs are lower and a rising interest in ESG (environmental, social, governance) investing by institutional investors will be a boost.

It has a $106 million market cap and the stock is off 33% year to date.

18. Matinas BioPharma (MTNB)

This biopharmaceutical isn’t as much about drugs as it is a new drug delivery platform.

It has a drug in development for people that are suffering from dyslipidemia, or unusually high triglycerides or cholesterol. It uses its proprietary platform to deliver omega-3 fatty acids to lower lipid counts more effectively than other methods.

Its platform is called Lipid Nano-Crystal (LNC) and allows drugs that would otherwise be highly toxic in the blood to be delivered to the cells they need to get to for treatment. This could have a profound effect on how drugs are delivered for a number of different diseases.

The stock has a market cap of $177 million and SunTrust just began coverage. MTNB is off 61% year to date, so it’s cheap and has more upside than downside ahead of it.

19. Turquoise Hill Resources (TRQ)

Does buying into a copper-gold-silver mining project in Outer Mongolia get you excited? Well TRQ is a cheap stock built just for you.

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While most miners stick to the classic properties in North America, South America, Africa, and Southeast Asia, TRQ has been mining in Mongolia for decades. Its location also means it has access to the Chinese market as well as India. That makes for an interesting play.

What’s more, it has the largest market cap of any of the seven stocks here, valued at $1.6 billion. TRQ is up 9% year to date and still selling at a PE of 4, a bargain given the rise in other gold mining stocks.

20. Tanzanian Gold Corp (TRX)

Tanzania is 1.4 times larger than Texas. It sits on the east coast of Africa, below Kenya and above Mozambique. And while you may not have heard much about the country, you will likely recognize two of its major landmarks — Serengeti National Park and Mount Kilimanjaro.

The country’s natural resources extend from agriculture to mining and energy. TRX is a gold miner that has just begun production on its Buckreef Gold Mine Project open mine.

In late June an independent assessment of the property, updated its estimate of gold by 2.5 times. And the projected operational costs are very low.

TRX has a market cap of $145 million, up 14% year to date. If gold continues its run as economic uncertainties persist, it has plenty of headroom from here, especially as production expands.

21. Aurora Cannabis Inc.

This is one of the cheapest and popular penny stocks in Robinhood. This might not be the best penny stock to buy. Needless to say, where there’s attention, there is usually momentum. Aurora Cannabis Inc. (NYSE: ACB) is no stranger to volatility.

Aurora expects revenue to come in at the higher end of its previously issued guidance; $60-$64 million.

Furthermore, the company’s anticipating adjusted gross margins to come in between 46% and 50% for the quarter.

While this might seem good on the surface, there’s still plenty to consider as headwinds for ACB stock. Price: $1. So, for more information, you can click on the link below.

Official Website

21. Aphria Inc.

Aphria Inc. headquartered in Leamington, Ontario, is an international producer and distributor of medicinal and recreational cannabis. The firm put a price tag of $1

The company operates through retail and wholesale channels in Canada and internationally. Aphria is one of the largest cannabis companies in the world and is listed on both the Toronto Stock Exchange and NASDAQ

Aphria Inc. (NASDAQ: APHA) is another stock name to know. It’s also one popular penny stock on Robinhood.

Unlike Aurora, Aphria has managed to weather the industry volatility a bit better. Despite having pulled back from highs of $6.44 a few weeks ago.

Official Site

Additionally;

22. Check-Cap Ltd.

Check-Cap Ltd. has been a strong performer in November. Despite hitting new 52-week lows during the first week of November, CHEK stock has managed to climb over 70% so far.

Furthermore, the last 5 trading sessions have seen higher than average trading volumes help propel momentum as well.

Earlier this month, CHEK stock began pushing higher after reporting earnings. EPS was up significantly, year-over-year.

Meanwhile, Check-Cap revealed big progress in its business development initiatives. The company submitted an Investigational Device Exemption application to the FDA.

This was for a pivotal study of its C-Scan platform. C-Scan is a screening test to detect polyps before they may transform into colorectal cancer.

In addition,  the firm set a $1.50 price target, which is 265% higher than the current trading levels in the stock market today.

Official Site

People also read Per Stirpes vs Per Capita: Difference, Similarities, How it Works. You should see it.

Official Site

23. Hexo Corp

This is one of the Robinhood penny stocks under $1 to buy. When it comes to marijuana penny stocks, sector catalysts can be that rising tide to lift all ships.

In this case, some legislative news broke late in the Friday session. As far as analysts are concerned, HEXO stock isn’t the highest-rated name.

However, BMO Capital Markets analysts have a Market Perform rating on the penny stock. The firm also put a $1.30 target out there; over 50% higher than the current trading levels.

Official Site

24. OrganiGram Holdings.

The past year was a nightmare for most cannabis companies. They prepared to put a difficult year behind them and look toward a brighter year. Little did they know what this year would hold, and companies like OrganiGram have been forced to adjust to the new reality.

OrganiGram had to reduce 25% of its workforce and lowered cannabis production at its New Brunswick facility in Canada to decrease costs.

A necessary sacrifice for a company that saw its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) turn negative due to the higher cost of sales last quarter.

OrganiGram has struggled these last few months, but the company could very well emerge from under-five dollar stocks companies after the pandemic. They can streamline and become cost-effective price than ever before – and at a great price point for investors.

Stock price US $1.80

Conclusion

It’s always wise to read the reviews of users from credible third party sites always. This way, you have an undiluted experience of users on the platform before subscribing to it. Better still, the reviews help you decide whether to join the platform or not.

Whatever your decision, prioritize your convenience and sanity. The risk with some investments can send one bunker.

Cheers to a great and wealthy future!

Reference

• Marketbeat.com
• Pennystocks.com
• Marketwatch.com
• Corporatefinanceinstitute.com
• Investorplace.com

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