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The 7 Best Robinhood Stocks Under 2 Dollars To Buy For April 2024

robinhood stocks under 2

Tune in for our picks for the best Robinhood stocks under 2 dollars to buy now.

There are plenty of solid trading platforms on the market, but none offer the ease of access that Robinhood provides — especially concerning penny stocks.

Some of these platforms charge hefty minimums to trade them or don’t list these stocks at all.

Robinhood also runs promotions that offer free stock just for signing up.

So if you’re looking to trade penny stocks without jumping through hoops or paying minimums, Robinhood is a good place to start.

Keep reading for our list of the best penny stocks under $2 to watch out for. 

robinhood stocks under 2 dollars

Best Robinhood Stocks Under $2

Globalstar, Inc. (NYSE: GSAT)

Globalstar, Inc. (NYSE: GSAT) is a satellite communications company that provides mobile voice and data services to businesses, governments, and consumers in over 120 countries around the world.

The company’s products and services include voice and data transmission, asset tracking, remote monitoring and control, emergency response, and maritime safety.

Globalstar is a well-established company with a sound track record of delivering innovative satellite communications products and services. 

The company’s products are essential for businesses and governments that must communicate in remote or difficult-to-reach areas. Its customer base includes some of the world’s largest corporations and defense sectors. 

GSAT is one of those penny stocks that emerged in Robinhood last year, gaining a 247% increase on its share price, and it has no plans to stop there.

Following the COVID-related headwinds that affected demand in 2020, the significant increase in equipment sales is a clear indicator of a rebound in these segments. 

Before the company ended the year, it reported its SPOT service revenue subscription an increase of 4% from last quarter. 

The SPOT activation rate continued to be at record levels, as gross activations increased 17% compared to the prior period. 

Commercial IoT activations increased 15% during the last 12 months compared to the previous year, while churn declined 11%.

A number of new products and services will be launched by GSAT this year.

For investors, this could be an excellent opportunity to generate substantial profits.

robinhood stocks under 2

Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX)

Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX) is a biotech company focused on the development and commercialization of products to treat cancer. 

The company’s lead product candidate, Seclidemstat, is a small-molecule inhibitor of MEK1 and MEK2 that is currently in Phase 2 clinical development for the treatment of patients with advanced solid tumors.

The company’s recent quarterly report has made significant advances in clinical development activities for Lead Product Candidate Seclidemstat. 

The global Phase 2 trial of Seclidemstat in patients with advanced solid tumors, including triple-negative breast cancer (TNBC), showed excellent results combined with chemotherapy.

It also reported total working cash and cash equivalents of $33.6 million as of September 30, 2021.

This includes the $2.7 million funding from (CPRIT) Cancer Prevention and Research Institute of Texas.

At this point, promising news about SLRX can potentially be a driver for the stock price from now on, especially when the company has enough funding to continue the completion of ongoing clinical trials.

So if you are looking to invest in a biotech company with low-risk and high growth potential, SLRX just might be the one for you.

robinhood stocks under 2

Document Security Systems, Inc. (NASDAQ: DSS)

Document Security Systems, Inc. (NASDAQ: DSS) is a company that provides innovative security products and services that protect documents and digital information. 

The company’s solutions are used by businesses and governments worldwide to protect against fraud, counterfeiting, and identity theft. 

Document Security Systems has a strong track record of innovation, and its products are well-regarded by customers. 

The company is well-positioned to benefit from the growing demand for document security solutions. 

Document Security Systems has a strong product lineup, and a large installed base of customers. 

The company’s products are also becoming increasingly important as businesses and governments move to digitize more information. 

Document Security Systems is a well-run company with a solid financial position. 

The company has a healthy balance sheet and generates strong free cash flow. 

Document Security Systems’ Q4 earnings report showed newer ventures drove DSS’s (NYSE: DSS) 24% revenue growth in Q3 2021. 

With its recent purchase of a health facility in Connecticut, the REIT generated its first revenue through direct marketing, which grew by 35%.

Its capabilities combined with the ability to source components have resulted in an increase of 31% year over year in packaging, printing, and fabrication.

With a growing installed base, a strong product lineup, and presence in emerging markets, this small-cap penny stock is worth looking at.


robinhood stocks under 2


CooTek (Cayman) Inc. (NYSE: CTK)

CooTek (Cayman) Inc. (NYSE: CTK) is a China-based mobile internet company that offers a range of TouchPal keyboard apps and related services. 

The company’s products are used by over 700 million people worldwide, and it has a growing presence in the North American and European markets.

Despite the company’s lackluster earnings performance over the past year, there are several reasons to be optimistic about CooTek’s long-term prospects. 

First, the company has a large and growing user base. 

Its products are used by over 700 million people worldwide, and it continues to expand its reach into new markets. 

Second, CooTek (Cayman) is a well-funded company with a strong balance sheet. 

It has raised over $200 million in funding to date, and it has no outstanding debt. 

Finally, CooTek (Cayman) is poised for growth. 

It has been making headlines recently because of its first successful attempt to enter the Metaverse world.

A few days after its release, the casual game “Hotties Up” reached the top three of the US iOS game ranking. 

Hotties Up is a game where users are primarily focused on dressing up and playing parkour.

The game had previously been released but has been redeveloped, with a second version adding some new features.

Positive feedback and results from the game provided the company’s stock price to surge by over 30% after its launch.

Overall, CooTek’s prospects are looking good.

The company has a vast user base, which continues to grow by the day, and it is aggressively expanding into new markets.

This can lead to potential future growth, which is great news for prospective investors trading penny stocks.


robinhood stocks under 2


Stocks Under $2 on Robinhood to Watch

AgEagle Aerial Systems (NYSE: UAVS)

AgEagle Aerial Systems is a leading agricultural drone company that designs, manufactures, and sells uncrewed aerial vehicles (UAVs) for precision agriculture. 

The company’s products include the AgEagle RX60 and the AgEagle SP80. 

They are equipped with advanced sensors and software that allow farmers to collect data on their crops and make informed decisions about irrigation, fertilization, and crop protection.

The company’s products are also helping to reduce the amount of water, fertilizer, and pesticides that farmers need to use to maximize yields.

AgEagle has been actively acquiring companies, with three acquisitions last year, so growth is clearly a priority here. 

It has also been actively entering partnerships, such as the one announced in a separate release today, which includes the OpenSky App in AgEagle’s products. 

The app will make it easier for drone pilots to follow aerospace rules. 

Given these various movements, it makes sense why investors got excited so early in the year.

UAVS is a great company that is currently revolutionizing the agriculture industry, making it an outstanding choice for penny stocks under $2 on Robinhood.

robinhood stocks under 2


Waitr is a food delivery company that operates in over 250 cities in the United States. 

The company was founded in 2013 and completed its initial public offering (IPO) in 2018.

In mid-March, its order activity decreased a bit, but they recovered and have progressed. 

As of the third quarter of 2021, the company generated $12.3 million in net income, compared to $4.6 million in the third quarter of 2020. 

Accordingly, the third-quarter net income per share for 2021 was $0.09, while the third-quarter net income per share for 2020 was $0.04.

Also, for the third quarter of 2021, adjusted EBITDA1 came to $3.1 million, compared to $2.5 million in the second quarter of 2021 and $13.0 million in the third quarter of last year.

What makes WTRH an attractive investment is its recent expansion to the cannabis industry.

Retail Innovation Labs Inc. (COVA), a leading provider of compliance software for cannabis retailers, has entered into a non-binding letter of intent (LOI) with Waitr.

This partnership is in line with their rebranding,  along with other decisions to invest in new delivery services and marketing initiatives.

Overall, Waitr’s future seems promising on the stock market, but only time will tell.


robinhood stocks under 2


Camber Energy Inc. (NYSE: CEI) 

Camber Energy, Inc. (NYSE: CEI) is an upstream energy company engaged in the exploration and production of oil and natural gas. 

The Company has a portfolio of producing assets and a large inventory of low-cost drilling locations.

The market has been bullish on Camber Energy Inc. (NYSE: CEI) in the past year.

The stock shot up from below $1 to over $3 in a short period of time. 

However, the stock has pulled back and is now trading for less than $1.

Still, there are several reasons why the market is bullish on Camber Energy. 

The company has a large inventory of low-cost drilling locations.

These are locations where the company can drill and produce oil and gas at a low cost, and this gives it a competitive advantage in the industry.

However, its recent surge was because of its current equity announcement. 

Camber Energy closed a $100 million equity investment, and as a result of the funding commitment, the company can confidently pursue acquisitions and other critical value-adding initiatives throughout 2022.

Looking ahead, investors should take advantage of this low-cost penny stock, as this company might be very profitable in the future. 


robinhood stocks under 2


Should You Buy Penny Stocks on Robinhood?

There is no definitive answer to this question. 

Whether or not you should purchase penny stocks, regardless of which platform you choose, depends on many factors, such as your investment objectives, the amount of money you have to invest, and your risk tolerance.

As a general rule, penny stocks are considered high-risk investments and should be purchased only by investors who are prepared to take substantial losses.

Whenever investing in penny stocks, it is crucial to understand the risks involved and to conduct research on the particular company you are considering.

However, with Robinhood, buying penny stocks is easier and less expensive than using most other brokerages. 

It provides commission-free trading and requires no account minimum to start trading “cheap stocks” for a few dollars.

You can also buy fractional shares of stocks if you want to buy into companies with a higher market cap.

Additionally, Robinhood does not charge any annual maintenance fees, account service fees, transaction fees, or dividend reinvestment fees (and they intend to keep it that way).

As long as you are comfortable with the risks and have done your homework, investing in penny stocks on Robinhood can offer opportunities for high returns on investment.

More About Robinhood Penny Stocks

Another thing about these penny stocks on Robinhood is that they can diversify your portfolio. 

You can also buy ETFs, options, and other stocks in addition to penny stocks. 

In addition, these stocks listed above are traded on major exchanges, like the NYSE or NASDAQ. 

So Robinhood investors can be more certain about their liquidity and price discovery.

If you can buy established companies with a history of positive earnings, then there is less risk associated with these types of trading opportunities.

Best Robinhood Stocks Under 2 Dollars: Final Thoughts

Penny stocks on Robinhood have many benefits, just like any other investment opportunity. 

The major difference between traditional investments and penny stock picking is that these are much riskier because they are not regulated or minimally monitored by government agencies.

Also, keep in mind that these are very early-stage companies with limited resources and little information available for potential investors. 

Whether or not you are buying penny stocks or blue-chip stocks, make sure that you do your due diligence and compare these companies against other investment opportunities. 

Make calculated trading decisions and do not get carried away by speculations, especially when it comes to penny stocks (or any type of stock for that matter).



Noah Zelvis is a writer with more than 18 years of experience under his belt. He started out by blogging his adventures overseas and quickly found success creating paid content thanks to his ability to convey his articles in a clear and concise manner. Equipped with an engineering background and an analytical mind, Noah has a passion for all things business and finance. His personal investment journey began at a young age, helping his grandma with her portfolio. That spark blossomed into a never-ending search for the best stocks Noah still carries today. He’s thoroughly researched the corporate financial world as well and has an innate understanding of the banking and credit sector. Other published works also include travel, running, video games, product reviews, and more. Now, Noah uses his expertise to share his financial and investment know-how here at Stock Dork. When not at his desk, you’ll likely catch Noah traveling or running.