Millions of investors use other apps like Robinhood to trade stock but in search of the real and cheapest penny stocks to buy by investing their money. Then if so, you are at the right place as one of the investors.
But first, let’s talk a little about Penny stocks.
Penny Stocks are shares of small companies that typically trade for significantly less money than shares of larger companies. Despite the name, the term “penny share” can be applied to any stocks under $1.
Penny stocks are also attractive to investors because they show higher-than-average volatility. The volatility of a stock describes how often and by what magnitude a stock will increase or decrease in value over a typical trading day.
So, relax and read on because I will show you the best Robinhood Penny Stocks under $1 you can buy.
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About Penny Stocks
According to Wikipedia, Penny stocks, which are referred to as micro-cap stocks, nano-cap stocks, small-cap stocks, or OTC stocks, are common shares of small public companies that trade for less than one dollar per share.
Despite the name, the term “penny share” can be applied to any stocks from $1 to $5. A penny stock might be sold on an over-the-counter (OTC) exchange, but many are also traded on SEC-regulated exchanges like the New York Stock Exchange (NYSE).
One of the most popular forms of penny stock fraud is the “pump and dump” scheme. During a pump and dump, marketers who hold shares of particular security intentionally spread false or misleading information about the company issuing the stock, which causes the price of the stock to rise sharply.
In addition, Penny stocks are also attractive to investors because they show higher-than-average volatility.
The volatility of a stock describes how often and by what magnitude a stock will increase or decrease in value over a typical trading day.
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Best Cheapest Penny Stocks On Robinhood Under $1
#1. Aurora Cannabis Inc.
This is one of the cheapest and popular penny stock 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, there’s still plenty to consider as headwinds for ACB stock. Price: $1. So, for more information, you can click on the link below.
#2. 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 stocks on Robinhood.
Unlike Aurora, Aphria has weathered the industry volatility a bit better. Despite having pulled back from highs of $6.44 a few weeks ago.
#3. Marathon Oil Corporation
Marathon Oil Corporation 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.
Plenty of oil and gas stocks experiencing short term jumps in price. However, Marathon Oil Corporation (NYSE: MRO) was not among these names.
Regardless, the broader focus on oil and gas recovery has specific 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 also reduced 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.
So, this is among the cheapest stock on robinhood and is under $1.
#4. 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 Robinhood’s most popular penny stocks. 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.
#5. MFA Financial Inc.
MFA Financial, Inc. is a real estate investment trust primarily engaged in investing, on a leveraged basis, in residential mortgage assets, including residential mortgage-backed securities and residential whole loans.
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.
#6. 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.
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.
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#7. 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. ACST stock has since climbed to highs of $0.4177 this week.
In its pipeline are products such as CaPre, a therapeutic 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 to explore strategic alternatives to drive shareholder value.
This includes potential mergers, acquisitions, or other initiatives that involve Acasti and/or CaPre, its omega 3 product.
#8. 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 and 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.
Avinger is exploring 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.
READ ALSO: How to Make Money Off Cash App Stocks In 2023
#9. 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 the 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, and its lantibiotics program.
#10. 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.
CONCLUSION
Penny stocks are also attractive to investors because they show higher-than-average volatility.
The volatility of a stock describes how often and by what magnitude a stock will increase or decrease in value over the course of a normal trading day.
For example, if you purchase 1,000 shares of Stock X at $1 and sell them at $2, you’ve doubled your money and earned $1,000. However, this high volatility also means that it’s possible to lose money quickly.
So, after reading through the top 10 cheapest penny stocks Listed in this article, I believe you’ve seen the one that best suits you and also buy.
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