Over the past several years, a massive bull run has led to many stocks becoming overvalued, however, there are still many stocks under a dollar for value investors looking to find discounts and growth opportunities.
In fact, Penny stock investing is on the rise, especially after the economic recovery started. Investors remain confident about the market’s recovery, with S&P 500 Index gaining over 34% in the last twelve months and 3.39% in the previous three months. On the other hand, The Russell 2000 Index and Russell 3000 are up 47% and 36%, respectively, over the past twelve months.
In this column, we try to highlight some of the day’s best opportunities under $1 per share.
Sundial Growers Inc. (NASDAQ: SNDL) is one to put on your radar. The stock trades at around $0.72, the stock is up 200% over the past twelve months. The Calgary-based pot grower sells cannabis products for adult use in the Canadian market and grants loans to other cannabis firms.
Avinger, Inc. (NASDAQ: AVGR) is a California-based medical device company that develops and commercializes catheter-based technologies used in vascular disease treatment. In June, analyst Marc Wiesenberger of B. Riley initiated coverage on AVGR with a Buy rating and a $2.50 price target. With three new medicines introduced in the previous three years, Marc Wiesenberger believes the company is well poised to deliver on a growth strategy to revolutionize the treatment of peripheral artery disease.
Allied Energy Corp. (OTCMKTS: AGYP) deserves a look from oil and gas investors as they have struck oil on their leased well sites located in Texas. Global energy prices are experiencing extreme volatility, especially in petrochemicals. With the need for more domestic energy growing apparent, AGYP and its US-based exploration projects may benefit.
Superior Drilling Products (NYSE: SDPI) is another hot oil & gas play under $1. Based in Utah, SDPI does not drill for oil and gas themselves. Instead, they make products that other companies use to drill for gas. Additionally, they make other types of machinery, which are used mainly for manufacturing. While oil and gas companies struggled last year during the COVID-19 pandemic, consumers are finally back out on the road.
Oragenics Inc. (NYSE: OGEN) despite a large percentage of the US population receiving their COVID vaccination, the virus is still at the forefront of many people’s minds. The rise of the Delta variant has shown just how far we have to go when it comes to getting out of the pandemic. Oragenics is currently developing its own version of a COVID-19 vaccine.
