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The 8 Best Stocks Under $2 To Buy For June 2024!

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. But which stocks should be on your list, and are they safe? In this article, we’ll be discussing the top penny stocks under $2.

Best Stocks Under $2 To Buy

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. At the end of 2021, Pedevco brought two new horizontal oil wells online.

It has also taken steps to enhance its current assets for more efficient production by using more sustainable materials and processes. Pedevco’s most recent earnings reports have been very promising, with huge jumps in revenue, net income, and earnings per share.

stocks under $2

In the three months that made up the first quarter of 2022, the company generated an average of 1,074 barrels of oil equivalent per day (80% oil). The company closed 2022 with a revenue of 30.03 million, an increase of 89.37%.

Its net income also grew to $2.84 million

Oil prices are rising again, possibly explaining the recent share price spike in September. Prices have cooled off some since, but Pedevco could be primed to take off as 2023 rolls on.

Bitfarms Ltd. (NASDAQ: BITF)

Bitfarms is a global cryptocurrency mining company that mines Bitcoin and other cryptocurrencies.

Founded in 2017, Bitfarms operates mining facilities in Canada, Israel, the United States, Paraguay, and Argentina.

Bitfarms makes money by mining cryptocurrency coins and tokens in North America, processing and verifying transactions on the blockchain, and earning Bitcoin as a reward.

The stock has recently taken off after Bitcoin, the flagship crypto currency, touched $31,000 and is going even higher.

Stocks Under $2

Apart from this, there is a possibility that a Bitcoin ETF will be announced next year, which can again catapult Bitfarms stock significantly. Again, Bitcoin will be halving next year, and in the past, such events have led to a rally in the crypto currency market.

Being a low-cost miner, Bitfarms has been steadily growing its mining capacity.

With a $65 million total liquidity cushion, financial flexibility is also high. Additionally, Bitfarms plans to be debt-free by February 2024.


Denison Mines is a Canadian mining and exploration venture with a specific focus on uranium. The company strives to be the first of its kind to provide uranium oxides at a low cost.

It has an effective 95% interest in the Wheeler River Uranium Project, the largest undeveloped area rich in uranium in northern Saskatchewan. Denison also has joint ventures with other businesses throughout Canada.

This diversity will help protect the mining enterprise should one mine shut down for any reason. Share prices have seen gains of 27% over the last year, kissing a share price of $1.75 at one point.


Stocks Under $2


Based on its most recent financial report, the company’s earnings for the three months ending March 31, 2022 were $0.05 per share. These include mark-to-market gains of $47.8 million on its investment in 2.5 million pounds of actual uranium assets.

Also, the McClean Lake Tailings Management Facility’s expansion has received regulatory permission, according to the company’s announcement.

Additionally, it recently made a high-grade uranium mineral discovery at its 24.68% owned Waterfound River Joint Venture. With a solid year of mining ahead, Denison could uncover higher than ever stock numbers.

JD Sports Fashion ADR (OTCMKTS: JDSPY)

JD Sports Fashion plc is a retailer of branded kids’, women’s, and men’s sports fashion and outdoor apparel, accessories, footwear, and equipment. It runs in two segments: sports fashion and outdoor.

The company also distributes footwear, apparel, and sports apparel and accessories and retails leisure goods, sports goods, fishing gear, camping gear, boats, and bicycles. 

Some of its popular sports brands include: JD, Size?, Footpatrol, Finish Line, Shoe palace, DTLR, Livestock, Sprinter, Sport Zone, Perry Sport and Sizeer.

Stocks Under $2

The company’s latest second-quarter results showed an 8% uptick in its sizable revenues ($2.39 billion). Its net income also grew by 30% to nearly $120 million.

In the last five years, group revenue has grown by 106%, and headline PBT has grown by 179%, despite the Covid-19 impact.

Best Tech Stocks Under $2

Pagaya Technologies (NASDAQ: PGY)

Pagaya Technologies is a financial technology (fintech) company that uses artificial intelligence (AI) to underwrite loans. 

The firm’s customers are lending companies that can connect to the AI Pagaya network to discover and approve new customers. 

Pagaya’s AI technology enables precise, real-time customer credit evaluation. Some of its big customers include Visa, SoFi Technologies, and Ally Technologies.

The company’s AI-driven data network helps banks and fintechs originate more loans while creating investment opportunities for institutional capital investors.

Stocks Under $2

In its latest second-quarter report for 2023, Pagaya’s total revenue and other income grew by 8% to $195.6 million. Its adjusted EBITDA grew by 255% to $17.5 million

While the firm has grown strongly in revenue terms over the past three years, it has recently turned its attention to profitability and is doing well in reducing its net quarterly losses.

Globus Maritime Ltd (NASDAQ: GLBS)

Globus Maritime Limited is a Greece-based dry bulk shipping company that provides marine transportation services worldwide. 

The company owns and operates dry bulk carriers that transport cargo such as: iron ore, coal, grain, steel products, cement and alumina. 

Globus Maritime was incorporated in Jersey on July 26, 2006. The company’s executive offices are in Glyfada, Attica, Greece. 

Globus Maritime owns and manages a fleet of nine modern dry bulk vessels. As of September 2023, the company’s vessels had a weighted average age of approximately 10.9 years and a total carrying capacity of 453,745 DWT. 

Stocks Under $2

While the stock has performed poorly in recent years, its shares went up significantly in September. Overall, the stock is trading at 37% higher than the previous year.

Its overall P/E ratio is much lower than the industry average even now, making it an attractive buy option.

Best Biotech Stocks Under $2

Atossa Therapeutics Inc (NASDAQ: ATOS)

Atossa Therapeutics Inc. (ATOS) is a clinical-stage biopharmaceutical company that develops innovative medicines for oncology. The company focuses on breast cancer and other breast conditions.

Atossa’s lead program is Endoxifen, an active metabolite of tamoxifen. Endoxifen is in Phase II clinical trials to treat and prevent breast cancer.

Atossa also offers treatment for Pre-cancerous breast conditions and Early-stage breast cancer

The company’s founder is Steven Quay, MD, PhD. It’s offices are based out of Seattle.

In the second quarter of 2023, each of the three ongoing Phase 2 trials investigating Atossa’s proprietary (Z)-endoxifen reached important milestones. 

Stocks Under $2

Moreover, it also received approval from Health Canada to conduct the Phase 2 EVANGELINE clinical trial in Canada. It had previously received approval from the FDA for the same trial.

As per the company’s financial release, EVANGELINE is a Phase 2 trial of (Z)-endoxifen and Exemestane + Goserelin as neoadjuvant treatment in premenopausal women with ER+/HER2- breast cancer. 

While there are several FDA-approved neoadjuvant therapies for ER-breast cancers, few exist for ER+ patients, which account for approximately 78% of breast cancers. 

The first dose was administered in April and positive findings in this trial would send the stock soaring.

The company reported cash equivalents of $99 million in its quarterly report, which should hold it in good stead while the trials go on.

ATOS is one of the few biopharmaceutical stocks that have grown positively in the current year and is trading below $2.

Acasti Pharma (NASDAQ: ACST)

Acasti Pharma is a biotech firm with products in the pipeline to target diseases with unmet medical needs. Of the three products currently being trialed, two look to move into phase 3 testing within a year’s time.

These yet unnamed drugs look to treat brain hemorrhaging and ataxia-telangiectasia, respectively. A third medication for post-herpetic neuralgia should enter phase 2 testing this year.

Stocks Under $2

The company has already generated over 40 patents to keep exclusivity well beyond the year 2036. Without any products currently on the market, Acasti isn’t making money at this time.

In a recent financial report in August for the first quarter of 2023, Acasti Pharma Inc. said that it has cash and cash equivalents totaling $21.6 million. Despite this number being about $6 million lower than the previous quarter, the company projected a cash runway until Q2 of 2025 based on the efficiencies gained through their recent operational realignments.

The stock was under $2 as recently as September and is currently trading slightly higher than that.

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 genuine 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.

Stocks under $2: Pros & Cons

Here are the top pros and cons of stocks under $2:


Huge Growth Potential: Penny stocks are so appealing thanks to a massive growth potential. They can increase in value quickly and blow past averages from the overall market. 

Low Entry Price: Stocks under $2 clearly sit at a low price point, meaning investors can scoop up shares for little money. Slight value increases can then lead to substantial gains.

Diversification: There’s a spot for stocks under $2 in most investment strategies to add some diversification to a portfolio. Having a spread of securities can help reduce risk and boost income over time.

Unique Opportunities: Many low-priced stocks are working to introduce innovations unlike anything we’ve ever seen in the market. Investing may allow you to become part of a world-changing trend before it takes off.

Short-Term Gains: While not for everyone, traders enjoy the up and down motion common to stocks under $2. If they play their cards right, it’s possible to get in at lows and sell high all in the same day.


Volatility: Although traders may see volatility differently, long-term investors favor a steady rise in share price over time. Stocks under $2 frequently succumb to market volatility that can erode investments fast.

Scams: Many so-called penny stocks are nothing more than pump and dump schemes set up by unscrupulous individuals. They artificially inflate the price of the stock and quickly sell at a profit, leaving everyone else with worthless shares.

Low Floats: Stocks under $2 may not have tons of shares circulating on the market. These low floats can become difficult to buy or sell even when opportunities arise. A huge share price increase isn’t worth anything if you’re not able to get rid of your stock.

Hard to Analyze: It’s not always easy to track the direction a stock under $2 is headed. Misleading information from less-regulated markets only add to the confusion. Unclear expectations of where a low-cost stock is heading can lead to disappointment.

stocks under $2

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 the 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 in 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.


Stocks Under $2 FAQ

Below we’ve answered the top questions surrounding stocks under $2.

What Are the Best Stocks Under $2?

We’ve shared with you our favorite picks for this price range. Globalstar’s satellite reach is just starting to take shape as a major player in communication. Denison Mines is just starting to scrape the surface of uranium deposits it’s invested in.

What Is the Best $1 Stock To Buy?

With so many stocks to choose from, we’ve listed GEE Group as one of our top picks right now. The ticker is on the cutting edge of the job market and looks to grow in big ways. For more ideas, check out our best stocks under $1 guide.

What Is the Best $5 Stock?

Gran Tierra Energy Inc. (NYSE: GTE) has been on a tear recently. The company explores for, produces, and sells crude oil and natural gas in South America. It has a market cap of $471.63 million. In addition, the company posted a record net revenue of $48 million last year.

How Do I Find Penny Stocks?

Some penny stocks have enough volume to trade on NASDAQ or the NYSE. Still, others are found on over-the-counter markets that are more subject to volatility. No matter which way you go, a good penny stock trading platform will let you search for stocks that speak to you.

What Stocks Are Good for Beginners?

Penny stocks can be a great place for beginners to start investing in the stock market, as they offer the opportunity for high returns at a lower buy-in price.

Many penny stocks are not well known, so there is less competition among investors and greater potential for price appreciation. 


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