Stocks under $1 aka low-priced penny stocks are generally underpriced companies that you can purchase for as little as 1 buck.
Many of these companies have suffered a massive reduction in share price or simply become targets of massive “pump and dump” schemes. Another possibility for the low share price is an extremely high number of shares outstanding.
Why Invest in Stocks Under $1?
Cheap stocks can provide massive returns if the company launches a new product, announces a new partnership with another company, or simply begins generating revenue after the market beat against them.
In this article, I’ll provide a list of stocks under $1 that you can add to your watchlist.
Best Penny Stocks Under $1
1. Sundial Growers (NYSE: SNDL)
Sundial Growers Inc. engages in production and marketing of cannabis products for the adult-use market in Canada. It produces and distributes inhalable products, such as flower, pre-rolls, and vapes. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands. Sundial Growers Inc. was incorporated in 2006 and is headquartered in Calgary, Canada.
2. Hexo (NASDAQ: HEXO)
HEXO Corp., through its subsidiaries, produces, markets, and sells cannabis in Canada. The company offers its adult-use and medical products under the HEXO brand name. It also provides cannabis beverages under the Little Victory, House of Terpenes, Mollo, Veryvell, and XMG brands; and cannabis products under UP Cannabis, Original Stash, and Up brand names. HEXO Corp. has a strategic alliance with Tilray Brands, Inc. The company was formerly known as The Hydropothecary Corporation and changed its name to HEXO Corp. in August 2018. HEXO Corp. was founded in 2013 and is headquartered in Gatineau, Canada.
3. PlantX Life (OTCMKTS: PLTXF)
PlantX Life Inc., an e-commerce company, provides plant-based products in Canada, the United States, the United Kingdom, Germany, and Austria. The company provides plant-based groceries, ingredients, food and beverages, cosmetics, pet foods, plants, and prepared meals. It distributes its products through the e-commerce platform, wholesale arrangements, and drop-shipping to restaurants and grocery stores. The company also operates a brick-and-mortar store under the PlantX brand in Squamish, British Columbia. The company was formerly known as Vegaste Technologies Corp. and changed its name to PlantX Life Inc. in September 2020. PlantX Life Inc. is headquartered in West Vancouver, Canada.