Best Cheap Stocks to Buy Right Now
Starting to invest in the stock market sounds intimidating to beginners, especially because the popular conception is that you require thousands of dollars to see any significant return.
If you’ve never invested before, you should start with penny stocks. These are stocks with little startup money required to get a share.
Here’s our list of ten of the best cheap stocks to buy right now.
Here’s a brief overview of our picks, then we’ll go more into detail.
Contents
Best Cheap Stocks to Buy Right Now Under 5 Dollars:
- Pacific Ethanol
- Valens GroWorks
- Catalyst Pharmaceuticals
- Socket Mobile
- Resolute Forest Products
Best Cheap Stocks to Buy Right Now Under 2 Dollars:
- Matinas BioPharma
- Elementis
- CES Energy Solutions
- Ideanomics
- Moleculin Biotech
These are a few of the best cheap stocks to buy right now under 5 dollars.
If you’re wanting to learn how to buy stocks, one of the best places to start is in trading penny stocks, or stocks that have a market value of less than 10 dollars per share.
If you’re a beginning investor, you don’t want to use a lot of capital on a venture you aren’t sure about.
Here’s our detailed look at some of the stocks you should watch.
Pacific Ethanol (PEIX)
This is one of the best cheap stocks to buy right now if you’re interested in supporting the push for greener energy.
Pacific Ethanol is one of the leading producers of low-carbon renewable fuels with a headquarters and production facility in Pekin, IL.
Since the start of July 2020, the stock has doubled in value from 66 cents per share to $1.20 per share.
Valens GroWorks (VLNCF)
Cannabinoid product is one of the biggest industries in the market today.
Valens GroWorks, a Canadian company, specializes in creating cannabinoid-based edibles, drinks, topical medicines, and oils.
The company also works to make hemp a viable product and offers third-party analytical services for other players in the cannabis industry.
It’s one of the best cheap stocks to buy right now under $5, seeing a 5 percent growth in the month of July.
Even though the cannabis market slowed sown mid-pandemic, it shows signs of picking up.
Catalyst Pharmaceuticals (CPRX)
Catalyst Pharmaceutics focuses on delivering treatments for neuromuscular diseases.
Two of their chief products are amifampridine (Firdapse) for the treatment of the autoimmune disease Lambert-Eaton myasthenic syndrome and GABA-aminotransferase to treat infantile spasms.
This is one of the best cheap stocks to buy right now if you want to invest in a low-priced pharmaceutical share with potential for growth on the heels of its competitors.
Socket Mobile (SCKT)
Tech stocks are rarely cheap stocks to buy right now, but Socket Mobile has a foothold in the niche of providing barcode scanners.
These scanners, equipped with Bluetooth and mobile scanning, advance hands-free point-of-sale services, which are vital in a COVID-19 economy.
Socket Mobile has already partnered with several major corporations including Google, Apple, DuPont, and Frito-Lay.
Resolute Forest Products (RFP)
Resolute Forest Products is one of the best cheap stocks to buy right now if you want to invest in a company that values the environment.
Resolute Forest Products has certified 100 percent of its managed woodlands via a third party to meet international sustainability standards.
The company’s main focus is providing paper of various types, such as newsprint and specialty papers.
The company opened the month of July 2020 at 2.20 and currently stands at just above the $3.00 mark.
Matinas BioPharma (MTNB)
Matinas BioPharma is another healthcare investment to watch.
Although it dipped recently, it promises to grow again with the introduction of MAT9001, its proprietary omega-3 product intended to treat cardiovascular disease and metabolic syndrome.
Having recently enrolled in the EnACT clinical trials, it plans to expand its foothold in the pharmaceutical industry.
It’s a good time to buy if you’re looking for cheap stocks to buy right now under 1 dollar.
Elementis Global (ELM)
Elementis Global focuses on delivering quality surface coatings to weather-proof your buildings.
With increased rainfall and more severe weather patterns on the rise, it’s always a good idea for a business to take care of its physical facilities.
This is one of the best cheap stocks to buy right now. It is a low price and has seen relatively little change, which isn’t always a bad quality for a stock.
CES Energy Solutions (CEU)
CES Energy Solutions is predominantly an oil and natural gas supplier, but it has begun to branch into renewable energy resources.
The recent shift to renewable energy has caused a short-term decrease in profit, but in the long run it will recover as it adapts to a changing economy.
If you’re looking for the best cheap stocks to buy right now under 1 dollar, this low-priced energy share is a good bet.
Ideanomics (IDEX)
As green vehicles become more viable and the demand for environmentally-friendly consumption grows, more entities each day are switching to electric vehicles through Ideanomics’ subsidiary, Mobile Energy Global.
The company also develops financial data storage technology for clients. This is one of the best cheap stocks to buy right now under 1 dollar. It shows growth in 2020.
Moleculin Biotech (MBRX)
The treatment of cancer is an ongoing process of improvement, and Moleculin Biotech has stepped up to the challenge.
The company’s recent testing of in vitro application of WP1122 has shown some promise in promoting antiviral activity.
This is especially promising as a way to deal with COVID-19. Since the appearance of the virus the stock has grown almost 150 percent and continues to trend upward.
This makes it one of the best cheap stocks to buy right now.
When you’re looking for the best cheap stocks to buy right now, you have to consider several factors.
First, is it a low enough price that you feel comfortable spending?
We’ve included stocks with low price points to lower the barrier needed to start investing.
Second, is it a company you think will grow?
No one can predict the future with certainty, but you can pay attention to the news about the company and the industry as a whole to get an idea.
Third, do you morally support what the company does?
Although this isn’t directly tied to investing, you have to be sure you agree and support the company’s endeavors.
How to Buy Stocks:
If you’re just getting started looking for the best cheap stocks to buy right now, you should look at a penny stock trading app.
RobinHood is the premier app, and it offers free download and account setup.
Trading in penny stocks is a good way to get started investing because it doesn’t require a large initial investment capital as would a regular brokerage account.
To buy stocks using a trading app, you’ll need to link your bank account to it.
Browse through the listing of stocks on the market and pay attention to how it’s trending.
You also should consider whether you want to do investing or day trading. Investing means you want more slow and steady growth and that you intend to hold the stock over time.
Day trading is more volatile and you typically buy and sell stocks each day.
