VS - Best Penny Stocks to Buy Under $1? 10 To Watch Now
2023-06-22 10:01:17 ET
Stocks that are priced below $5 per share are typically referred to as penny stocks. However, for the purpose of this article, we will be focusing specifically on penny stocks that are priced under $1. Although these stocks come with inherent risks and volatility, some believe that they offer the possibility of significant gains.
So, why should anyone consider buying cheap stocks under $1? Imagine a scenario where you have some disposable cash. You decide to purchase a substantial number of shares, each priced below a dollar. Even a small move in the price of these shares could result in an exponential change in your initial investment value. It’s important to remember that significant risks are also associated with these investments.
When it comes to identifying promising penny stocks under $1 , it can feel like searching for a needle in a haystack. It requires meticulous research and a discerning eye for hidden value. Many investors focus on specific sectors or follow technological trends to capitalize on short-term price movements. Numerous low-priced stocks hold the potential to experience remarkable growth.
Let’s be clear – investing in penny stocks isn’t suitable for everyone. These stocks are considered risky, unpredictable, and sometimes even anxiety-inducing. However, they also possess significant potential for growth and profitable trading opportunities. It is essential to approach such investments cautiously and construct a well-balanced, risk-managed strategy that aligns with your financial goals.
Today, we look at a handful of penny stocks to watch this week, providing you with valuable insights. This will also continue the list of penny stocks from the article Best Penny Stocks to Buy Under $1? 7 To Watch Now .
Penny Stocks To Watch
Versus Systems (VS)
Shares of Versus Systems also took flight on Thursday. While it wasn’t to the extent of some of the stocks mentioned below, its price launched to highs of $0.69 from a previous close of $0.56. With the rise in the popularity of AI stocks, companies developing technologies and products within the space have gained plenty of attention.
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Versus provides engagement and rewards services for live events, games, shows, and apps. This week, it launched a new self-service, AI-powered rewarded advertising platform. This will offer brands and marketers the ability to customize interactive campaigns.
Matthew Pierce, CEO of Versus Systems, explained, “A self-serve version of Versus’ Winfinite platform will let any brand create custom, interactive, rewarded games. They will be able to reach new customers and interact with their existing customers in more rewarding ways. With the new AI-powered trivia game coming out of beta next week, our customers will be able to harness the power of machine learning to create simple, fast, and fun interactive experiences in a scalable, low-cost way.”
Vascular Biogenics Ltd. (VBLT)
Despite being one of the penny stocks under $1 , shares of Vascular Biogenics have steadily climbed more than 100% since the beginning of the year. The $0.25 stock continued its move higher on Thursday.
As we’ve discussed previously, the company is in a period of transition. VBL announced an agreement to merge with Notable Labs. In a related update, the company explained the deal would create a clinical-stage therapeutic platform company developing precision medicines. The new focus will be on Notable’s Predictive Precision Medicines Platform and pipeline targeting cancer.
In a recent first-quarter update, Prof. Dror Harats, M.D., Chief Executive Officer of VBL Therapeutics, said, “We believe the proposed merger with Notable represents the best path forward for shareholders of both companies and patients. The combined organization will apply Notable’s Predictive Precision Medicines Platform to develop a pipeline of clinical-stage precision medicines with the goal of transforming the standard of care in oncology. We recently filed an S-4 registration statement, and subject to SEC review and shareholder approvals, expect to close the merger in the third quarter of 2023.”
With the pending merger anticipated to close later this year, the clock is ticking, and traders are watching.
Aeglea BioTherapeutics (AGLE)
One of the top-performing penny stocks today during the premarket session was Aeglea BioTherapeutics. The biotech company recently tapped fresh 52-week lows of $0.1064 on Wednesday. However, Thursday morning revealed a night and day difference (literally). The company, which specializes in enzyme therapeutics for rare metabolic diseases, announced a milestone acquisition.
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Aeglea purchased Spyre Therapeutics, which holds a pipeline of candidates targeting inflammatory bowel disease. “The concurrent launch of Spyre and acquisition by Aeglea will provide immediate access to the public capital markets and the opportunity to accelerate research and development efforts for our broad pipeline of biologics,” said Cameron Turtle, DPhil, newly appointed Chief Operating Officer of Aeglea.
This news sparked a massive move to highs of over $1 during the premarket session. Once the opening bell rang, AGLE stock was trading around $0.90.
List Of Penny Stocks
- Versus Systems ( NASDAQ: VS )
- Vascular Biogenics Ltd. ( NASDAQ: VBLT )
- Aeglea BioTherapeutics ( NASDAQ: AGLE )
- IronNet Inc. ( NYSE: IRNT )
- The Beachbody Company ( NYSE: BODY )
- Sidus Space Inc. ( NASDAQ: SIDU )
- Cybin Inc. ( NYSEAMERICAN: CYBN )
- Sonnet Biotherapeutics Holdings ( NASDAQ: SONN )
- Faraday Future Intelligent Electric Inc. ( NASDAQ: FFIE )
- Canoo Inc. ( NASDAQ: GOEV )