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The 8 Best Stocks Under $2 To Buy For December 2021!

Sarah Foley - November 28, 2021

Best Stocks Under $2

If you’re looking to start investing but don’t want to spend a lot of money, penny stocks are a great way to start. In this article, we’ll be discussing the best stocks under $2.

If you’re looking to start investing but don’t want to spend a lot of money, penny stocks are a great way to start. In this article, we’ll be discussing the best stocks under $2.

Generally, penny stocks are considered to be any stock under $5.

As a general rule, penny stocks tend to be very volatile.

This isn’t necessarily a bad thing, but they are much more subject to the ups and downs of the market.

To profit off of these penny stocks, you’ll need to ride these waves on the stock market and look for stocks that have frequent spikes.

That being said, there are great companies in many different industries that currently have stocks trading at under $2.

Here are a few you should consider adding to your portfolio.

Best Stocks Under $2 To Buy

  • Pedevco (NYSE: PED)
  • Ion Geophysical Corp. (NYSE: IO)
  • Goodness Growth Holdings (OTC: GDNSF)

Pedevco logo

Pedevco (NYSE: PED)

Pedevco, short for Pacific Energy Development Company, is an energy firm headquartered in Houston, Texas.

The company looks to acquire and develop oil and natural gas properties in areas where modern techniques have not yet been applied.

Its most significant assets are currently in New Mexico and Colorado, and the venture has made some exciting expansions over the past year.

In the first quarter of 2021, Pedevco brought two new horizontal oil wells online.

It has also taken steps to enhance its current assets for more efficient production through the use of more sustainable materials and processes.

Pedevco’s most recent earnings reports have also been very promising, with huge jumps in revenue, net income, and earnings per share.

Oil and gas prices worldwide increased at the end of September, causing Pedevco’s stock to spike through October.

However, its share price quickly dipped again due to a purchase agreement with an institutional investor.

This concerned some investors in the short term, but Pedevco still looks enticing in the long run because of its current financial state.

Ion Geophysical Corp. (NYSE: IO)

Ion Geophysical offers software, planning services, equipment, and information to businesses in the gas and oil industry.

The company has a global footprint, with offices in North America, Latin America, Europe, Africa, Asia, and the Middle East.

With few assets of its own, Ion Geophysical helps provide the planning tools other ventures need to make intelligent decisions and be profitable.

It approaches clients with a “we win, you win” mentality to give them a competitive advantage in their respective spaces.

Ion has a long-standing relationship in the maritime energy market but is expanding into offshore logistics, ports, and security as well.

Recent financial reports show a big boost to revenue and net income, although the tech provider missed out on its earnings per share goal.

Share prices have been somewhat sideways of late but could jump above $2 at any time.

A target price of $4.5 paints this stock in a favorable light.

Goodness Growth Holdings (OTC: GDNSF)

Goodness Growth Holdings is a cannabis holding company based in Minneapolis.

The company currently has two subsidiaries — Vireo Health and Resurgent Biosciences.

Vireo Health has four cannabis brands sold at dispensaries in Minnesota, New York, New Mexico, Maryland, and Arizona.

Goodness Growth purchased cannabis licenses in Nevada at the beginning of the year, allowing it to expand its sales in the future.

Resurgent Biosciences focuses on developing natural medicines and technology.

Resurgent’s research has focused mainly on cannabis, but it has also indicated that it would like to expand into psychedelic medicine.

There is a movement in the U.S. to decriminalize or even legalize psychedelic drugs, although it is still in the early stages.

If Resurgent does move in this direction, the company could capitalize on this growing trend.

Goodness Growth saw an increase in revenue this last quarter but still fell short of its goals.

With so much forward momentum, this may be the calm before the increase that pushes Goodness Growth to new heights.

 

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Best Tech Stocks Under $2

  • Blonder Tongue Labs Inc. (NYSE: BDR)
  • Globalstar, Inc. (NYSEAMERICAN: GSAT)

Blonder Tongue Labs Inc. (NYSE: BDR)

Blonder Tongue logo

 

Blonder Tongue Labs puts its best foot forward in redesigning the distribution of media.

Since founders Ike Blonder and Ben Tongue founded it over 60 years ago, media innovation has been the company’s goal.

It supplies the equipment broadcasters, internet operators, cable system operators, video providers, and more to distribute their services.

Blonder Tongue doesn’t shy away from new technologies, working on 4K and even the latest in internet protocol television.

This technology even extends to digital security, streaming, and testing equipment.

Stocks have been trading a bit sideways of late and sit at just over $1 per share at the moment.

Financials across the board are in the green for this past quarter, and it wouldn’t be a surprise to see share prices follow suit.

Globalstar, Inc. (NYSEAMERICAN: GSAT)

Globalstar is an American satellite company that provides communication, navigation, and Internet of Things solutions.

It is already heavily invested in several industries, including transportation, energy, commercial maritime, agriculture, safety, and forestry.

With 48 satellites in constant use around the globe, Globalstar can meet the needs of many sectors and consumers all at the same time.

It is rare to find a budding company with so many satellites already off the ground in this industry.

In addition to helping businesses stay connected, the company offers satellite radios and message devices to allow people to talk from anywhere on the planet.

These successes have caught the eye of investors, and Globalstar stock is up 450% from its place last year.

The company is quickly positioning itself to be profitable in the near future.

Best Biotech Stocks Under $2

  • ReWalk Robotics (NASDAQ: RWLK)
  • Aditxt Inc. (NASDAQ: ADTX)

ReWalk Robotics (NASDAQ: RWLK)

ReWalk Robotics is an Israeli enterprise that manufactures exo-suits individuals use to rehabilitate from lower limb disability.

The futuristic-sounding technology is the only post-stroke gait training solution of its kind.

ReWalk Robotics has two products that cater to this specific need – The ReStore™ Soft Exo-Suit and the ReWalk™ Personal 6.0 Exoskeleton.

The ReStore™ Soft Exo-Suit sits below the knee and records metrics that help with long-term repair.

More of a full-body suit, the ReWalk™ Personal 6.0 Exoskeleton fits the entire body to return strength to the legs.

Recent financials reflect positive growth in revenue, income, and cash on hand, beating goals for the quarter.

This positive mobility should transfer over to share prices in short order.

Aditxt Inc. (NASDAQ: ADTX)

Aditxt is a biotech company that focuses on immune system health.

The company’s flagship product is currently in development and is called AditxtScore.

This product will give patients a complete overview of their immune system, which doctors can then use to provide more accurate medical care.

Aditxt stock recently spiked due to an acquisition announcement, as the company will be acquiring AiPharma in the very near future.

This purchase is particularly exciting because of AiPharma’s COVID-19 treatments.

AiPharma currently has the rights to a drug called favipiravir, an antiviral drug used in COVID-19 recovery.

Although the global community has made significant progress in fighting COVID-19, the pandemic still isn’t over.

New variants of COVID-19 are still spreading, and we’ll continue to need treatments for them.

The future looks bright for this stock, and investors are interested to see where it goes once the acquisition is final.

Should You Buy Stocks Under $2?

Buying stocks under $2 can be a good way for new investors to get into trading without the initial financial risk.

While these stocks don’t cost much, there’s a very real potential for them to double or triple in price in a relatively short period of time.

Investing in affordable penny stocks can have a big payoff if you’re strategic, as many of the world’s most exciting companies were once trading under $2 per share.

However, there are some things to be aware of when purchasing these affordable stocks.

These penny stocks are known for seeing a lot of volatility on the market.

A savvy investor can leverage this to make a nice return, although it’s unlikely that your penny stocks under $2 will eventually be worth thousands.

When buying stocks at these low prices, it is imperative to research the company ahead of time.

You should have a good understanding of their business model and their recent performance before adding them to your portfolio.

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Where to Buy Stocks Under $2

There are a limited number of sub $2 stocks on the major exchanges, as NASDAQ and the NYSE have specific requirements regarding number of shares and trading volume to be listed.

If you want to peruse these markets, we suggest using Robinhood or Webull.

Robinhood is best suited for newer traders with its low-key user interface.

Webull speaks most to more experienced investors who want to dig a little deeper.

For OTC stocks, look to a trading app like Fidelity.

Fidelity offers commission-free trading for even the lowest-valued tickers.

Best Stocks Under $2: Final Thoughts

Stocks under $2 can be a great entry point for new traders.

These tickers exist in every sector and on every exchange.

It’s important to study potential picks before making an investment.

No matter how sure a pick may seem, always keep an eye out for volatility.

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Sarah Foley is a freelance content writer based in Chicago. She covers finance as well as real estate, technology, pop culture, and more.