35 Best Penny Stocks Under $1 to Buy Now

Best Penny Stocks Under $1

Stocks under $1 aka low-priced penny stocks are generally underpriced companies that you can purchase for as little as 1 buck.

Best Stocks Under $1

CompanyLast Price
Arrival (ARVL)0.53
Faraday Future (FFIE)0.63
BitNile (NILE)0.15
Ideanomics (IDEX)0.26
Ayro (AYRO)0.59
Lizhi (LIZI)0.48
Hycroft Mining (HYFC)0
Orbital (OIG)0.26
Genius Brands (GNUS)0.7
Core Scientific (CORZ)0.2
Context Logic (WISH)0.83

Here is a list of my favorite penny stocks under $1 to buy right now.

1. Arrival (NASDAQ: ARVL)

Arrival is a British EV maker that plans to produce electric buses & vans. The company has a contract with UPS to deliver 10,000 electric vans over the next few years and plans to start delivering them at the end of this year.

Arrival UPS Electric Van

Arrival will start producing the electric vans in Bicester UK with the goal to start producing EVs in Charlotte USA in 2023.

In Q2 2022, Arrival held $512.6 million in cash on its balance sheet yet the current market cap is around ~$500 million. ARVL stock is being valued at its cash on hand even though the company will start production this year.

Arrival has received 149,000 non-binding preorders totaling over $6 billion in revenue if all EVs are successfully delivered. The biggest problem with Arrival is dilution since the company performed a $300 million at-the-market offering to provide enough cash for production until the end of 2023.

Arrival doesn’t plan to start generating revenue until 2024. Cash on hand will only last until Q3 2023 so expect more dilution in the future. It’s unclear if the company will actually deliver any EVs or go bankrupt instead.

2. Faraday Future (NASDAQ: FFIE)

Faraday Future is an American EV company that plans to produce its flagship electric car, the FF91. The company reported 401 preorders for the FF91 and has struggled to compete with other EV makers such as Tesla, Lucid, and Rivian.

3. Bitnile (NYSE: NILE)

Bitnile is a Bitcoin mining company with interests in several different markets including Bitcoin mining, electric vehicle charging solutions, and real estate.

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The company plans to spinoff all of its $600 million in assets to create 4 separate companies so Bitnile can focus on its upcoming Bitcoin marketplace. Bitnile expects to deploy nearly 14,000 miners and could mine almost 10 Bitcoin daily by the end of the year.

4. Ideanomics (NASDAQ: IDEX)

Ideanomics is an EV company with interests in the growing electric car industry.

6. Ayro (NASDAQ: AYRO)

Ayro is an EV company that could grow its revenue through its electric delivery vehicles. The company currently has $55 million in cash on its balance sheet yet AYRO trades at a $22 million market cap.

Total cash per share is 1.49, which means AYRO stock is selling for a massive discount to its book value.

There are much better EV stocks to buy for the long run but Ayro looks like a nice swing trade until its current price becomes closer to its true book value per share.

7. Lizhi

Lizhi is a Chinese podcasting app with substantial revenue growth.

8. Hycroft Mining (NASDAQ: HYMC)

Hycroft Mining is an American mining company that entered the spotlight when AMC Theatres bought a stake in the company.

9. Orbital Infrastructure Group (NASDAQ: OIG)

Agrify is a Cannabis company that produces a full range of Marijuana and hemp-based products.

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10. Hexo (NASDAQ: HEXO)

HEXO Corp., through its subsidiaries, produces, markets, and sells cannabis in Canada.

11. 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.

12. Genius Brands (NASDAQ: GNUS)

Genius Brands is an American children’s media company that generates revenue through its content via advertisements and network deals.

13. Core Scientific (NASDAQ: CORZ)

Core Scientific is the largest Bitcoin miner in North America but may go bankrupt if the company cannot receive a bailout loan soon. CORZ stock is a high-risk, high-reward play at the moment.

Core Scientific mines around 45 BTC per day but sold most of its BTC stash in Q3 to cover its costs. CORZ stock crashed to $0.15 cents but recently rebounded as crypto investors bought the dip.

It’s unclear if Core Scientific will survive the crypto crash because management stated that Core Scientific cannot pay its bill through the end of 2022.

The only solution would be a bailout loan from Wall Street or a sharp rebound in BTC prices.

14. ContextLogic (NASDAQ: WISH)

15. Volta

16. Bitfarms

17. SmileDirect

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18. ThredUp (NASDAQ: TDUP)

19. Arcimoto (NASDAQ: FUV)

20. Alkaline Water (NASDAQ: WTER)

21. Moneylion

22. Hall of Fame Resort and Entertainment (NASDAQ: HOFV)

23. Select Quote

24. Stronghold Digital Mining

25. Argo Blockchain

26. Boxed (NASDAQ: BOXD)

Boxed is an e-commerce company that sells Costco-like products in bulk to consumers.

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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.

Risk Factors

Penny stocks are highly volatile and can experience massive price swings depending on earnings, press releases, and hype.

For NASDAQ penny stocks under $1, these companies are also under the threat of being delisted if the share price remains under $1 for 30 consecutive trading days.

Conclusion

If you’re looking for some cheap penny stocks to trade or buy for the long run then consider investing a portion of your portfolio in cheap penny stocks.

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