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The 8 Best Stocks Under $1 with Potential for July 2024!

Best Stocks Under $1

With so many stocks trading under $1, it’s difficult to keep track of companies with real potential.

Where do you even start your search? Keep reading for our shortlist of some of the best stocks under $1 to watch out for in 2024.

Best Stocks Under $1 with Potential 

GEE Group Inc. (NYSEAMERICAN: JOB)

One of the top penny stocks, GEE Group Inc. provides specialized staffing solutions for organizations and has been doing so in some capacity since 1893.

Within its broad portfolio, it covers healthcare, commercial, and professional staffing opportunities.

The company controls several other brands that each focus on specific areas of the job pool.

Stocks Under $1 Dollar With Potential

These brands stretch across the country with exposure to several markets. As each job market grows, GEE Group plans to expand alongside it.

The company has demonstrated financial resilience and strategic growth, positioning itself to benefit from an expanding job market.

Despite some earnings challenges, GEE Group continues to show growth potential for investors.

Parks! America (OTC: PRKA)

Another interesting option among penny stock companies is Parks! America, Inc. This is the parent company of Wild Animal Safari Park, with locations in Georgia, Missouri, and Texas.

Wild Animal Safari brings the thrill of an African safari experience to North America.

Each park contains hundreds of acres of land and many animals seen on the African plain.

These parks offer a drive-through experience undertaken either with your own vehicle or via a guided tour bus.

The company’s Texas park opened in 2020 and Parks! America looks to continue expansion in other areas.

Despite some financial challenges, the parks have historically been profitable and continue to attract strong investor interest.

The company plans to invest in each park to enhance the guest experience and drive future sales growth.

Northern Dynasty Minerals Ltd. (NYSEAMERICAN: NAK)

Northern Dynasty Minerals has 100% ownership of the Pebble Project located in Alaska.

This region is believed to be the largest undeveloped source of copper, gold, molybdenum, silver, and rhenium in the world.

The project is currently in the federal permitting stage, waiting for approval to begin operations.

Although the company has faced challenges during the approval process, it remains confident that the proposed mine meets all federal requirements.

Northern Dynasty Minerals is currently in a holding pattern without revenue from any operations, but a positive response from the federal government could significantly impact its stock value.

This potential makes it a speculative yet promising investment opportunity.

Best Biotech Stocks Under $1

Asensus Surgical, Inc. (NYSEAMERICAN: ASXC)

Asensus Surgical, Inc., is a medical device company that specializes in developing robotic-assisted surgical systems.

Their flagship product, the Senhance Surgical System, aims to revolutionize the field of minimally invasive surgery by providing advanced digital laparoscopic solutions.

The Senhance Surgical System enhances a surgeon’s capabilities with features like haptic feedback, eye-tracking camera control, and 3D visualization, making surgeries more precise and less invasive.

This technology addresses the growing demand for better surgical outcomes and reduced recovery times.

Asensus Surgical continues to expand its market presence by gaining regulatory approvals and forging strategic partnerships.

Its commitment to innovation and improving surgical practices positions the company well in the competitive medical device industry.

As a biotech stock trading under $1, Asensus Surgical offers potential for growth as it continues to advance its technological offerings and expand its market reach.

VBI Vaccines Inc. (NASDAQ: VBIV)

VBI Vaccines Inc. is a biotechnology company that focuses on developing and commercializing vaccines to address significant infectious diseases and immuno-oncology.

Their innovative approach leverages their proprietary virus-like particle (VLP) technology platform to create effective vaccines.

VBI’s pipeline includes candidates for hepatitis B, cytomegalovirus (CMV), and glioblastoma, among others.

Their hepatitis B vaccine, Sci-B-Vac, is already approved in several countries and is undergoing further clinical trials for broader approval.

This highlights the company’s ability to develop vaccines with significant industry potential.

In addition to its vaccine development, VBI Vaccines is actively engaged in partnerships and collaborations to enhance its research and commercial capabilities.

The company’s commitment to addressing unmet medical needs through innovative vaccine solutions makes it a promising player in the biotech sector.

VBI Vaccines offers investors a chance to participate in the growth of a company with a strong focus on critical healthcare challenges.

Best Marijuana Stocks Under $1

MariMed Inc. (OTCMKTS: MRMD)

MariMed Inc. is a leading multi-state cannabis operator in the United States.

The company focuses on developing, managing, and operating state-licensed cannabis facilities and the production of cannabis-infused products.

MariMed’s portfolio includes a range of premium cannabis brands such as Betty’s Eddies, Kalm Fusion, and Nature’s Heritage.

The company operates in several states, including Massachusetts, Illinois, and Maryland, and continues to expand its footprint through strategic acquisitions and organic growth.

MariMed aims to provide high-quality cannabis products to both medical and recreational consumers.

MariMed has been investing heavily in research and development to innovate new products and improve existing ones.

The company’s commitment to quality and consistency has helped it build a loyal customer base, positioning it well for future growth in the expanding cannabis market.

Best Energy Stocks Under $1

Gevo, Inc. (NASDAQ: GEVO)

Gevo, Inc., is a renewable chemicals and advanced biofuels company that focuses on transforming renewable energy into low-carbon liquid hydrocarbons.

These products can be used as fuels for jet engines, cars, and other transportation applications, making Gevo a significant player in the renewable energy sector.

Gevo’s proprietary technology converts renewable energy sources like corn and other biomass into sustainable fuels and chemicals.

The company’s integrated fermentation technology allows for the production of isobutanol, which can be further processed into jet fuel and other hydrocarbons.

With a strong emphasis on sustainability, Gevo aims to reduce greenhouse gas emissions significantly.

The company has entered into several strategic partnerships to scale its operations and commercialize its renewable fuel technologies.

As the demand for cleaner energy solutions grows, Gevo is well-positioned to capitalize on this trend, making it a noteworthy stock in the renewable energy space.

Cheap Stocks to Buy Now Under $1 Dollar

United States Antimony Corporation (NASDAQ: UAMY)

United States Antimony Corporation is a natural resource company with a primary focus on antimony.

The company mines, transports, mills, smelts, and sells antimony to the consumer, offering a true end-to-end process since 1968.

Further, it is the only company that smelts antimony in the entire country, making its services quite desirable.

Antimony is commonly used in modern medicine and cosmetics. To diversify its portfolio, the company also mines precious metals and zeolite.

Cheap Stocks to Buy Now Under $1

United States Antimony operates three different mills and a smelter in Mexico, along with a refinery and smelter at its headquarters in Montana.

The company’s unique position as the sole antimony smelter in the U.S., along with its involvement in precious metals, makes it a noteworthy player in the industry.

The company continues to focus on increasing its production capabilities and expanding its reach.

With a strong emphasis on maintaining its position as a leader in the antimony sector, United States Antimony is well-positioned for future growth and stability in the natural resource sector.

Should I Buy Stocks Under $1?

Trading penny stocks has its pros and cons. The defining feature of penny stocks, volatility, can work in your favor or against your investment objectives.

Here’s a closer look at what you should consider when buying stocks under $1.

Pros and Cons of Penny Stocks

Pros:

  • High Potential Gains Getting in early before a big swing can result in impressive gains.

  • Affordable Entry Point Low stock prices allow you to buy more shares for less money.

Cons:

  • High Risk The volatility of penny stocks means they can also lead to substantial losses.

  • Low Liquidity There are often few takers for these stocks, making them harder to sell at times.

Factors to Consider

  • Volatility Penny stock prices are highly volatile due to low trading volumes. Day traders can leverage this volatility for quick buys and sells.

  • Risk Tolerance If you have a low risk tolerance, traditional equities, mutual funds, and ETFs might be better suited for you. Penny stock trading requires setting a price target and monitoring intraday moves closely.

Research and Analysis

  • Earnings Per Share Check if the company is profitable, as this can indicate a functional business model.

  • Trading Volume High trading volume suggests strong investor interest and can give you an idea of market sentiment.

  • News and Catalysts Stay updated with news to identify potential catalysts that could affect stock prices.

Types of Penny Stocks

  • Oil Penny Stocks Oil penny stocks are linked to smaller oil exploration and production companies. They can benefit from fluctuations in oil prices.

  • Gold Penny Stocks Investing in gold penny stocks can be a way to gain exposure to the precious metals industry at a lower price.

  • Solar Penny Stocks Companies in the renewable energy sector, particularly solar penny stocks, can offer significant growth potential as the world shifts towards sustainable energy.

  • Semiconductor Penny Stocks The semiconductor industry is critical for technology development. Smaller companies in this space can see rapid growth with the right innovations. Check out some of our recommended semiconductor penny stocks.

Building a Strategy

  • Starting Small Look at a few penny stocks trading for less than $1 to start. This can help you build a strategy without risking major losses initially.

  • Diversification Spread your investments across different sectors to mitigate risk.

  • Due Diligence Always conduct thorough research before investing. This includes understanding the company’s profit model, financial health, and market conditions.

Penny stocks offer the potential for high returns but come with significant risks.

By understanding the pros and cons, conducting thorough research, and developing a solid trading strategy, you can navigate the volatile world of penny stocks more effectively.

If you’re interested in technology investments, you might also want to explore our article on the best Artificial Intelligence stocks under $5 for additional opportunities.

stocks under $1

Stocks Under $1: Features to Look for

Keep these tips in mind the next time you set out to purchase a stock under $1.

Company Background

It’s best practice to research any company you’re interested in investing in.

Due to the nature of penny stocks, it’s even more important here. Look into the organization’s history, including its leadership and past successes or failures.

Understanding the company’s business model and its industry can provide insights into its growth potential and stability.

  • Leadership Investigate the backgrounds of the company’s executives and board members. Strong leadership can be a positive indicator of future success.

  • Industry Analysis Study the industry in which the company operates. Emerging industries may offer more growth potential, while established industries might provide more stability.

Financial Information

Cheap stocks aren’t always known for the best financials, but it’s still worth digging into the numbers to see where a company stands.

Even if it’s currently in the red, there should be some indication of a path to profitability.

Look for signs that the company is managing its debt well and generating revenue growth.

  • Balance Sheet Examine the company’s assets, liabilities, and equity to assess its financial health.

  • Revenue Trends Look for consistent revenue growth or signs that the company is turning around its financial performance.

  • Profit Margins Check if the company is improving its margins over time, indicating better operational efficiency.

High Daily Trading Volume

A low-float stock may prove difficult to trade, even when the going’s good.

There’s not much you can do with a limited number of available shares.

High daily trading volume is crucial for ensuring liquidity, meaning you can buy or sell shares without significantly affecting the stock price.

  • Liquidity High trading volume indicates good liquidity, making it easier to enter or exit positions.

  • Market Sentiment Frequent trades and good volume numbers are signs of strong interest and confidence in the stock.

  • Market Cap Considerations Stocks with a higher market cap generally see more consistent trading volumes, which can provide added stability and liquidity.

News Catalysts

A simple news story can catapult a penny stock into the limelight and often send share prices up.

Positive news such as new product launches, favorable analyst ratings, partnerships, or solid earnings reports can drive significant stock movement.

  • Product Launches Announcements of new products or services can signal growth potential.

  • Analyst Ratings Positive reviews or upgrades from financial analysts can boost investor confidence.

  • Partnerships and Contracts New business deals or strategic partnerships can provide a stock with upward momentum.

Trades on a Major Exchange

NASDAQ and the NYSE place stringent requirements on stocks listed within, offering investors some extra security.

Over-the-counter (OTC) opportunities may be legit, but some companies exaggerate information in an attempt to mislead.

Stocks trading on major exchanges typically adhere to higher transparency and reporting standards.

  • Regulatory Compliance Stocks on major exchanges comply with strict regulatory requirements, reducing the risk of fraud.

  • Transparency Companies listed on major exchanges provide regular and detailed financial disclosures, helping investors make informed decisions.

By considering these features when evaluating penny stocks, you can make more informed investment decisions and identify stocks with strong growth potential and stability.

Where to Buy Stocks Under $1

When it comes to stocks under the one-dollar mark, it’s more accessible to start building an investment portfolio with stocks that are listed on major exchanges.

Here’s a closer look at where and how to buy these low-priced stocks.

Major Exchanges: NASDAQ and NYSE

NASDAQ and the NYSE have specific requirements that companies must meet pertaining to equity, assets, and volume.

These requirements can translate to fewer risks when investing in penny stocks.

Stocks listed on these exchanges are generally more transparent and have to meet rigorous financial standards.

  • NASDAQ Requirements Companies must maintain a minimum stock price and meet other financial metrics to remain listed.

  • NYSE Requirements Similar to NASDAQ, the NYSE mandates specific market cap and shareholder equity requirements.

Online Trading Platforms

Robinhood

  • User-Friendly Robinhood is a good trading platform for investors of all types, with a simple user interface and educational tools.

  • Paper Trading It offers paper trading wherein newer investors can experiment with imaginary money to learn the ropes without risking actual funds.

  • Commission-Free Trading Robinhood provides commission-free trading and gives free stocks just for signing up, making it an attractive option for beginners.

Browse our list of the best Robinhood penny stocks.

Webull

  • Advanced Tools Webull has more sophisticated tools under the hood that will benefit more experienced traders.

  • Research and Analysis Offers in-depth research tools and market data, helping investors make more informed decisions.

  • Commission-Free Trading Like Robinhood, Webull offers commission-free trading and promotional offers for new users.

Check out the best available penny stocks on Webull.

Brokers for OTC Markets

If you want to trade penny stocks on the OTC markets and other penny stocks platforms, brokers like Fidelity offer the ability to do so. OTC stocks can provide more opportunities but come with higher risks due to less regulation.

Fidelity

  • Comprehensive Access Provides access to OTC markets, allowing you to trade a wider range of penny stocks.

  • Research Tools Offers robust research tools and customer support to help you navigate the more volatile OTC market.

We also have a list of the best penny stocks on Fidelity.

Finding the best platform to trade stocks under $1 depends on your trading style and experience level.

Major exchanges like NASDAQ and NYSE offer more stability and transparency, while platforms like Robinhood and Webull provide user-friendly interfaces and commission-free trading.

For those willing to engage in more risky investing, brokers like Fidelity offer access to OTC markets and a broader range of penny stocks.

By choosing the right platform and conducting thorough research, you can effectively navigate the world of low-priced stocks and build a diversified investment portfolio.

Best Stocks Under $1: Final Thoughts

Trading stocks of companies with a small market cap comes with a lot of risks, and proper market timing is key.

Day traders that can effectively wield volatility could have an opportunity to see solid gains.

That being said, there are stocks under $1 that could be fantastic long positions.

In fact, Amazon was a penny stock for a time. Keep in mind that this scenario is not typical, but it’s at least food for thought.

Still, there’s plenty of opportunities to find in the financial world—you just need to know where to look. A little luck doesn’t hurt either.

Stocks Under $1 FAQ

What Are Penny Stocks and Why Are They Considered High Risk?

Penny stocks are shares of small companies that trade for less than $5 per share, often under $1.

They are considered high risk due to their low market capitalization and low volume stocks, which can lead to significant price volatility and potential manipulation.

Additionally, these companies may have uncertain financial stability, making thorough research crucial before buying.

Which Is the Best Penny Stock?

There’s no clear-cut answer for which penny stock is best for you, as this is entirely dependent on your trading style and investment objective.

That said, energy securities like Gevo, Inc. could be a good place to start your search, as energy has been seen as a relatively stable investment.

What Are Some Good 1 Dollar Stocks?

GEE Group stands out for its reach across multiple markets in a space that will never go away.

In addition, MariMed is always a good $1 stock to keep your eyes on as regulations change towards cannabis use.

Why Are Low Volume Penny Stocks Risky?

Low volume stocks, often found among penny stocks, can be risky because they have fewer buyers and sellers, making it harder to trade shares without affecting the price.

This lack of liquidity can lead to significant price changes with even small trades, increasing the investment risk.

What Shares Should A Beginner Buy?

Stocks under $1 can be a good place to start because prices are so low.

However, it’s helpful to understand the market’s volatility and how penny stocks can rise or fall very quickly.

Long-term stocks could be a good entry point, as they are expected to increase slowly over time.

What Are Some Strategies for Trading Penny Stocks?

Successful trading strategies for penny stocks include setting clear entry and exit points, using stop-loss orders to mitigate risk, and diversifying investments to spread risk across multiple stocks.

It’s also beneficial to stay updated with market news and trends that could impact the stocks’ performance, ensuring informed trading decisions.

Can Penny Stocks Make You Rich?

It’s unlikely you’ll find a penny stock that will grow to the size of Amazon, but they are potentially good sources of income.

Like all other stocks, research is required before investing in a penny stock.

Consider the company’s financial stability and growth prospects before investing.

Check out our list of the best stocks to buy under $5 for more penny stocks worth considering.

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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.