5 Penny Stocks To Buy For Under $5 Right Now (2023)

There seems to be a disconnect between the broader markets and penny stocks. While this is typically the case, the stark differences are much more apparent this month. The S&P 500, Nasdaq, and Dow have all pulled back from highs, ending a multi-week rally before the big Jackson Hole meeting. This stalled or stagnant sentiment in the stock market today has led traders to hunt for alpha elsewhere. Higher volatility equities like penny stocks are the preferred flavor right now.

It isn’t Chunky Monkey or Cherry Garcia, but the massive gains from stocks under $5 have whet the appetites of short-term traders. Now, the search is on for another round of multi-bagger penny stocks to buy, thanks to big moves from meme stocks, including Bed Bath & Beyond, Blue Apron, and plenty of others over the last few weeks.

Best Penny Stocks to Buy Now

This article looks at a handful of penny stocks that can be bought for under $5. While volatility remains high, it will be important to determine if the risk is worth the potential reward. We look at recent events, technical trends, and more so you can make that determination for yourself.

  1. Vivakor Inc. (NASDAQ: VIVK)
  2. Lufax Holding LTD (NYSE: LU)
  3. Helius Medical Technologies (NASDAQ: HSDT)
  4. New Concept Energy Inc. (NYSEAMERICAN: GBR)
  5. Ring Energy Inc. (NYSEAMERICAN: REI)

Vivakor Inc. (NASDAQ: VIVK)

5 Penny Stocks To Buy For Under $5 Right Now (1)

Shares of Vivakor surged in early morning trading on Tuesday thanks to an uptick in energy stocks. In particular, the company specializes in clean energy solutions, and a recent acquisition helped expand Vivakor’s portfolio.

The company closed the Silver Fuels Delhi and White Claw Colorado City purchase for $37.4 million. Matthew Nicosia, CEO and President of Vivakor explained, “The synergistic acquisitions of SFD and WCCC represent a momentous and transformative event for Vivakor and our valued shareholders. Given the long-term contracts presently in place at both SFD and WCCC, we expect to realize significant annual revenue and for both entities to generate meaningful EBITDA and profitability.”

With a float of fewer than 10 million shares and strong energy industry tailwinds, VIVK stock could be one to watch amid this rising energy stock trend. In addition, it will be interesting to see if the penny stock can break and hold above the 50-day moving average. That has been a level of resistance since early July.

Lufax Holding LTD (NYSE: LU)

5 Penny Stocks To Buy For Under $5 Right Now (2)

Fintech company Lufax Holdings shares have been steadily recovering from a late Q3 sell-off that took the penny stock to lows of $3.84.The company offers personal financial services platforms in China and is a part of the Ping An Group, a larger financial services conglomerate. As the umbrella company, news from Ping An seems to have impacted shares of LU stock this week.

The company boasts more than 225 million retail customers and roughly y668 million internet users making it one of the larger financial service companies globally. This week, Ping announced results from the last year of business, which included steady growth. Profit grew, its customer base grew, and net profit rose. In its update, Ping also updated on the performance of Lufax, which it said: “continuously furthered its strategic transformation” with revenue growth of 8.4% year-over-year.

Right now, analysts remain cautiously optimistic about the company. This is based on recent updates from firms like Daiwa Securities and UBS. Both carry a Buy rating on LU stock and price targets ranging from $6.20 to $6.40.

[Read More] Best Penny Stocks To Buy Now? 4 To Watch As APE Stock Goes Public

Helius Medical Technologies (NASDAQ: HSDT)

5 Penny Stocks To Buy For Under $5 Right Now (3)

Shares of Helius Medical also popped this week thanks to new market activity. In particular, Roth Capital initiated coverage on the medical technology stock, starting with a Buy rating and a $5 target. Helius is coming fresh from more robust earnings results for the second quarter. EPS and sales were both up over the last year. Meanwhile, significant milestones from its Portable Neuromodulation Stimulator were discussed in detail.

Portable Neuromodulation Stimulator or PoNS is Helius’ non-surgical medical device delivering electrical stimulation to the tongue’s surface. It’s indicated for use as a treatment for gait deficit from multiple sclerosis symptoms. The company fulfilled its first U.S. prescriptions of PoNS during the first quarter and made therapy training available in July. Helius is looking to roll out ePrescribing platforms through its network of licensed providers to open access to PoNS.

Expectations are high that Q3 will be even better. According to the company, it’s expecting Q3 revenue to be “modestly above” Q2 figures. It also anticipates future quarterly revenue growth sequentially through 2023.

The latest volume spike and leg higher toward its 50-day moving average could also be something to monitor.

New Concept Energy Inc. (NYSEAMERICAN: GBR)

5 Penny Stocks To Buy For Under $5 Right Now (4)

One of the other cheap energy penny stocks to watch is New Concept. The company recently reported its second-quarter results, demonstrating year-over-year earnings per share and sales growth. It provides management services for oil and gas companies and owns real estate in West Virginia.

Second quarter operating results showed a jump in EPS from $0.01 last year to $0.02 during the same period this year. This is the second consecutive quarter that EPS has been positive, and sales figures have increased year-over-year.

[Read More] Cheap Penny Stocks to Buy in September? 3 For Your List

While traders may hunt for energy stocks, they also look for low float names. GBR stock fits the mold with fewer than 10 million shares in the float. Given the momentum boost in the industry today, it could be one of the penny stocks to watch as long as the trend persists. In addition, the technicals support a more bullish tone as GBR stock has firmly broken and held above its 50-day moving average for the first time in months. That level has been a consistent level of resistance since April.

Ring Energy Inc. (NYSEAMERICAN: REI)

5 Penny Stocks To Buy For Under $5 Right Now (5)

Speaking of flavors of the day, energy is becoming the focus. Ring Energy has continued a slow and steady uptrend since reaching 2022 lows of $2.19 in July. It has also bounced back thanks to its latest Q2 earnings beat announced in August. A $0.29 EPS and sales of $85 million came in much higher than expected.

Meanwhile, insider activity earlier in the month helped boost market sentiment. As we discussed in this article, 10% Owner William Kruse has been purchasing stock. How much has he bought? So far, Kruse’s purchases racked up more than 900,000 shares of REI stock at average prices around $2.66-$2.67. If you’re keeping score at home, that puts the trades at over $2.3 million.See more REI stock filings.

Meanwhile, the attention on short squeeze stocks has kept REI on the watch list. Fintel.IO and TDAmeritrade put the short float percentage around 21% as of this article. So if this is one of the names on your list of penny stocks with exposure to energy, keep that in mind.

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What are the top 5 high return penny stocks? ›

Some of the Best Penny Stocks to Buy In India
S.No.Top Penny Stocks in India 2023Industry
1.Vodafone Idea LtdTelecom
2.Alok Industries LtdTextile
3.Jammu & Kashmir Bank LtdBanking
4.Indian Overseas BankBanking
4 more rows
Apr 27, 2023

What are some good penny stocks to buy today? ›

8 Best Penny Stocks To Buy Under $1.00
  • Verastem Inc.
  • Compugen.
  • Cybin.
  • Freeline Therapeutics.
  • OnoCyte.
  • Mogo.
  • Organigram.
May 3, 2023

What is the fastest growing penny stock? ›

Fastest-Growing Tech Penny Stocks
Fastest Growing Tech Penny Stocks
Price ($)Revenue Growth (%)
Grab Holdings Inc. (GRAB)3.03311.5
Stem Inc. (STEM)4.92194.5
Velo3D Inc. (VLD)1.95186.1
Apr 10, 2023

What penny stock is hot? ›

More Hot Penny Stocks
BNGOBionano Genomics Inc.0.6666
MVLAMovella Holdings Inc.2.39
MVSTMicrovast Holdings Inc.1.48
NVOSNovo Integrated Sciences Inc.0.1502
CLSKCleanSpark Inc.4.47
20 more rows

What is the best stock to invest $1 in? ›

Stocks Under $1 at a Glance
Penny StockCodeMarket Cap
BiolaseNASDAQ: BIOL$13.76M
Venator MaterialsNYSE: VNTR$69.77M
Pharma-Bio ServeOTCMKTS: PBSV$21.35M
CompugenNASDAQ: CGEN$81.44M
6 more rows
May 5, 2023

What is the hottest stock to buy right now? ›

Most Actives
SymbolNamePrice (Intraday)
AMZNAmazon.com, Inc.116.75
NVDANVIDIA Corporation305.38
BACBank of America Corporation28.10
AAPLApple Inc.171.84
21 more rows

What are the best penny stocks under $1? ›

7 Best Penny Stocks Under $1 to Buy in May 2023
HMENFHemisphere Energy$0.91
PFHOPacific Health Care$0.92
POSAFPOSaBIT Systems$0.67
VASOVaso Corp.$0.24
XTMIFXTM. Inc.$0.12
2 more rows
May 3, 2023

What is the cheapest penny stock to buy? ›

Cheap Penny Stocks to Buy According to Hedge Funds
  • Gerdau S.A. (NYSE:GGB)
  • Lufax Holding Ltd (NYSE:LU)
  • Olaplex Holdings, Inc. (NASDAQ:OLPX)
  • Nokia Oyj (NYSE:NOK)
  • Banco Santander, S.A. (NYSE:SAN)
  • Itaú Unibanco Holding S.A. (NYSE:ITUB)
  • Ferroglobe PLC (NASDAQ:GSM)
Mar 31, 2023

How do you pick winning penny stocks? ›

These 10 steps are a great starting point for finding strong contenders for penny stocks to trade.
  1. Research the Company. ...
  2. Look for Volatility. ...
  3. Look for Volume. ...
  4. Look for Catalysts. ...
  5. Listen to What Others Are Saying. ...
  6. Get More Knowledge About Penny Stock Patterns. ...
  7. Consider the Time of Day. ...
  8. Pay Close Attention to Debt.
Mar 10, 2023

What are the best stocks under $2? ›

Best Stocks Under $2 at a Glance
StockCodePrice (Closing Price on Jan. 25)
Globus Maritime LimitedNASDAQ: GLBS$1.21
Xeris Biopharma Holdings, Inc.NASDAQ: XERS$1.18
VacasaNASDAQ: VCSA$1.66
6 more rows

Do any penny stocks ever go big? ›

Do penny stocks ever "go big"? Penny stocks can certainly "go big," but the problem is these parabolic moves are usually short-lived. Penny stocks frequently double or triple in price in short periods, but these companies usually have a very bleak 5-year chart.

What are the best stocks under 10 cents? ›

Best Penny Stocks Under 10 Cents Right Now
  • #1 - Ideanomics. NASDAQ:IDEX. Stock Price: $0.04 (-$0.00) ...
  • #2 - Virgin Orbit. NASDAQ:VORB. ...
  • #3 - ObsEva. NASDAQ:OBSV. ...
  • #4 - Aptinyx. NASDAQ:APTX. ...
  • #5 - PLx Pharma. NASDAQ:PLXP. ...
  • #6 - Evofem Biosciences. NASDAQ:EVFM. ...
  • #7 - Pear Therapeutics. NASDAQ:PEAR. ...
  • #8 - Rubius Therapeutics. NASDAQ:RUBY.

How do beginners buy penny stocks? ›

Here's some practical advice for how to invest in penny stocks.
  • Open a brokerage account.
  • Understand you're probably a speculator, not an investor.
  • Start small and diversify.
  • Beware penny stock scams.
  • Check the volume.
  • Be prepared to research.
Apr 4, 2022

Which penny stock is best for future? ›

Fundamentally Strong Penny Stocks
  • Vodafone Idea. ...
  • Alok Industries Ltd. ...
  • Yes Bank Ltd. ...
  • Dish TV India Ltd. ...
  • Morepen Laboratories Ltd. ...
  • GMR Power and Urban Infra Ltd. ...
  • Jaiprakash Power Ventures Ltd. ...
  • Mangalam Industrial Finance Ltd.
May 9, 2023

What to invest in when dollar is weak? ›

Investing in U.S. exporters, tangible assets (foreigners who buy U.S. real estate or commodities), and appreciating currencies or stock markets provide the basis for profiting from the falling U.S. dollar.

What is a good dollar stock? ›

Best One Dollar Stocks to Buy According To Hedge Funds
  • Compugen Ltd. (NASDAQ:CGEN)
  • SelectQuote, Inc. (NYSE:SLQT)
  • Doma Holdings Inc. (NYSE:DOMA)
  • Alaunos Therapeutics, Inc. (NASDAQ:TCRT)
  • ATI Physical Therapy, Inc. (NYSE:ATIP)
  • LumiraDx Limited (NASDAQ:LMDX)
  • Gran Tierra Energy Inc. (NYSE:GTE)
Jan 27, 2023

What stock will grow the most in 2023? ›

Bank of America's Best Growth Stocks of 2023
CompanyForward Sales Growth Next Year
Alphabet (GOOG, GOOGL)+11.8%
Eli Lilly (LLY)+19.4%
Match (MTCH)+13.0%
Progressive (PGR)+10.9%
6 more rows
May 1, 2023

What is the best stock to make money fast? ›

In addition to Amgen, Inc. (NASDAQ:AMGN), other Fast Money stocks that are widely held by elite hedge funds include Tesla, Inc. (NASDAQ:TSLA), UnitedHealth Group Inc. (NYSE:UNH), and Microsoft Corporation (NASDAQ:MSFT).

What stock to buy for first time? ›

Here are the 15 best stocks to buy for beginners in 2023:
  • Amazon (NASDAQ: AMZN)
  • Alphabet (NASDAQ: GOOG)
  • Apple (NASDAQ: AAPL)
  • Costco (NASDAQ: COST)
  • Disney (NYSE: DIS)
  • Meta (NASDAQ: META)
  • Mastercard (NYSE: MA)
  • Microsoft (NASDAQ: MSFT)
Apr 20, 2023

What stock has the lowest price? ›

low price shares
S.No.NameCMP Rs.
1.Brightcom Group16.30
2.T N Newsprint229.65
3.Jullundur Motor69.60
4.O N G C166.00
23 more rows

Which stocks to buy for 1 month? ›

Stocks with good 1 month returns
  • Life Insurance. 603.60. 10.49. 381776.86. 0.25. 13427.81. 466.20. 200178.83. -5.27. 148.72. 10.20. 161.45.
  • Tata Elxsi. 7261.00. 59.88. 45218.92. 0.59. 201.52. 25.94. 837.92. 22.91. 47.60. 15.42. 45.64.
  • CG Power & Indu. 373.25. 75.50. 57002.71. 0.40. 426.22. 125.48. 1902.79. 28.18. 61.18. 20.89. 41.42.

What is the best stock under $10? ›

Compare the best stocks under $10
Assertio Holdings (ASRT)Health care75%
CompoSecure (CMPO)Industrials53%
Garrett Motion (GTX)Consumer cyclical4%
Heritage Global (HGBL)Financial services25%
Vertex Energy (VTNR)Energy13%
2 more rows
May 15, 2023

What are the top 10 stocks to buy right now? ›

Top 10 Stocks To Buy Right Now
  • ServiceNow, Inc. (NYSE: NOW)
  • Alphabet Inc. (NASDAQ: GOOG)
  • Amazon.com, Inc. (NASDAQ: AMZN)
  • The Walt Disney Company (NYSE: DIS)
  • Palo Alto Networks, Inc. (NASDAQ: PANW)
  • The Boeing Company (NYSE: BA)
  • Prologis, Inc. (NYSE: PLD)
  • Johnson & Johnson (NYSE: JNJ)

How much penny stock should I buy? ›

Some professionals recommend that you devote no more than 10% of your individual stock holdings to penny stocks. It's also important to understand your risk tolerance. Generally speaking, the higher your risk tolerance, the more equipped you are to take on the risk that can come with investing in penny stocks.

What is the best time of day to buy penny stocks? ›

The opening 9:30 a.m. to 10:30 a.m. Eastern Time (ET) period is often one of the best hours of the day for day trading, offering the biggest moves in the shortest amount of time. A lot of professional day traders stop trading around 11:30 a.m. because that is when volatility and volume tend to taper off.

Can you make money fast with penny stocks? ›

Can you make money on penny stocks? It is possible to make money with penny stocks. Then again, it's technically possible to make money with any type of stock. Successful investors usually focus on the potential for their stock picks, regardless of price, to gain value over the long term.

How often do penny stocks succeed? ›

You are unlikely to get rich trading penny stocks. On the contrary, you are much more likely to lose your money. Penny stocks and OTC stocks have an average negative annual return of 24%. Over 90% of penny stocks fail.

Is a weak dollar good for stocks? ›

More important to an investor is the impact of the dollar's rise or fall on the individual stocks they own. Companies that rely on imports thrive when the U.S. dollar is strong. Companies that sell their products globally thrive when the dollar is weak.

What stocks have the highest rate of return? ›

Best stocks by one-year performance
SymbolCompany NamePrice Performance (1 Yr)
LVSLas Vegas Sands Corp.78.95%
NFLXNetflix Inc.65.36%
LWLamb Weston Holdings Inc.65.01%
GEGeneral Electric Co.63.17%
5 more rows
May 1, 2023

Which type of stock usually sells for less than $1? ›

Some investors consider penny stocks to be those that trade for less than $1 and/or over the counter on the OTC Bulletin Board.

What are the best small stocks to buy now? ›

Top 5 Small Cap Stocks to Invest in This Year
  • Ujjivan Financial Services. Ujjivan Financial Services is a microfinance company based in India. ...
  • Gokaldas Exports. ...
  • Bajaj Consumer Care. ...
  • Delta Corp. ...
  • Thyrocare Technologies Ltd. ...
  • Conclusion.

What are the best $2 stocks to buy right now? ›

Best Stocks Under $2 at a Glance
StockCodePrice (Closing Price on Jan. 25)
VacasaNASDAQ: VCSA$1.66
Cidara Therapeutics, Inc.NASDAQ: CDTX$1.28
22nd Century GroupNASDAQ: XXII$1.14
WM TechnologyNASDAQ: MAPS$1.22
6 more rows

What are the 10 best stocks to buy right now? ›

10 Best Stocks to Buy Now—May 2023
  • U.S. Bancorp USB.
  • Taiwan Semiconductor Manufacturing TSM.
  • Wells Fargo WFC.
  • Roche Holding RHHBY.
  • Comcast CMCSA.
  • International Flavors & Fragrances IFF.
  • Anheuser-Busch InBev BUD.
May 1, 2023

What is the easiest stock to buy? ›

  • Amazon (NASDAQ: AMZN)
  • Alphabet (NASDAQ: GOOG)
  • Apple (NASDAQ: AAPL)
  • Costco Wholesale (NASDAQ: COST)
  • Disney (NYSE: DIS)
  • Meta Platforms, Inc (NASDAQ: META)
  • Mastercard (NYSE: MA)
  • Microsoft (NASDAQ: MSFT)
Apr 20, 2023

What are the 5 most popular stocks? ›

Most Active - United States Stocks
TSMTaiwan Semiconductor100.95102.37
METAMeta Platforms252.69255.62
30 more rows

Which stock is very low price? ›

low price shares
S.No.NameCMP Rs.
1.Shreyans Inds.212.50
2.Brightcom Group14.80
3.Dhunseri Vent.247.50
4.Oil India268.90
23 more rows

What are the top 3 most active stocks today? ›

Most Actives
SymbolNamePrice (Intraday)
TAT&T Inc.15.15
INTCIntel Corporation27.40
AMZNAmazon.com, Inc.115.00
TSMTaiwan Semiconductor Manufacturing Company Limited100.95
21 more rows

What is the hottest stock today? ›

ORCL Oracle Corp104.29+5.97
NOW ServiceNow Inc531.78+29.23
RL Ralph Lauren Corp114.00+5.78
ETN Eaton Corporation PLC176.95+8.78
6 more rows

What investments do well with a weak dollar? ›

Here are seven ways to invest in a falling dollar:
  • U.S. companies generating international sales.
  • Commodities.
  • Gold.
  • Cryptocurrencies.
  • Emerging markets.
  • International stocks.
  • International currency ETFs.
4 days ago

What are the best stocks to buy for beginners today? ›

Compare the best stock for beginners companies
CompanySectorMarket cap
Comcast (CMCSA)Communication services$175 billion
Bristol-Myers Squibb (BMY)Health care$143 billion
Qualcomm (QCOM)Technology$129 billion
Broadcom (AVGO)Technology$265 billion
2 more rows
May 1, 2023

Is Google still a good stock to buy? ›

It's trading only around 14 times forward earnings now. This cheap valuation provided Google's dominant market-leading position and future growth prospects with significant profitability potential, making Google an ideal stock to own for the long haul.


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