Best Penny Stocks To Buy Under $1? 4 To Watch Now

Finding the best penny stocks to buy seems easy. Just set your screener to include all stocks under $5 and start trading. While the practice may seem “easy,” identifying good penny stocks to buy is another topic of discussion.

Depending on your trader identity, you’ll follow certain stocks while avoiding others. If you’re a swing trader, stocks moving up or down within seconds probably aren’t appealing to you. If you’re a day trader, stocks that take days or weeks to move up 2-3% most likely aren’t your type of stock either.

Assuming you understand the basics and have a trader identity, you might be searching for cheap stocks to watch for volatility. Since the stock market as a whole is going through a period of its own fluctuation, the trends are apparent, and a day-to-day approach to stocks may be better suited for some participants.

Penny Stocks Under $1

The basic definition of penny stocks includes stocks under $5. They’re inherently volatile on their own. Keeping all other things constant, the lower the price per share, the higher the general volatility for stocks. In this article, we look at some of the cheapest in the stock market today: stocks under $1.

Over the last few months, we’ve covered plenty of penny stocks under $1. One in particular that has been frequently mentioned is Troika Media (NASDAQ: TRKA). It has recently gained attention from the FinTwit community. TRKA stock has climbed from under $0.10 to over $0.70 and has been a clear example of how small moves in price can equate to significant percentage changes. The move of less than $1 has equated to a jump of more than 600% to date. Will any of these cheap stocks follow suit? That’s obviously to be seen. But here are some of the events going on that have turned heads in the stock market recently.

Sono Group (SEV)

Shares of Sono Group have been slowly battling back from 52-week lows it hit last week. The company’s update that it will be focusing exclusively on its solar tech company and discontinuing its Sion passenger car program led to the latest drop.

Company CEO Laurin Hahn explained, “shifting our entire focus to business-to-business solar solutions provides us with an opportunity to continue to create innovative products in the solar space. It was a difficult decision, and despite more than 45,000 reservations and pre-orders for the Sion, we were compelled to react to the ongoing financial market instability and streamline our business.”

– The Most Important Penny Stocks Trading Indicators

Thanks to a lower cost-to-operate in this new focus area, Sono expects decreased funding needs, which seems to have come as a silver lining to the decision on the Sion program termination. With a roughly 9% short, according to Fintel, and some renewed interest, SEV stock has managed to bounce back to highs of over $0.80 this week.

Myomo Inc. (MYO)

Another one of the penny stocks under $1 that has been quietly mounting a recent comeback is Myomo. The company develops wearable medical robotics for those suffering from neurological disorders and upper-limb paralysis. It closed a $6.5 million offering in January to put toward working capital. Despite the short-term bearish sentiment and dilution fears, MYO stock continues rebounding this month.

News in February that MyoPro was approved in Australia by the National Disability Insurance Scheme helped promote further bullishness for MYO stock. MyoPro is designed to support the arm and restore function to weakened or paralyzed arms. The product can sense a patient’s own EMG signals through non-invasive sensors on the arm and restore an individual’s ability to perform activities of daily living, according to Myomo.

Other than this development, insider trading conducted by CEO Paul Gudonis and Globis Capital has helped boost sentiment this quarter. Gudonis purchased more than 300,000 shares of MYO stock at an average price of $0.325. Meanwhile, Globis reported a 7.2% stake in MYO stock as of January 12.

vTv Therapeutics (VTVT)

When discussing volatile penny stocks under $1, vTv Therapeutics is a shining example. The last several months have seen VTVT stock trading between lows of $0.65 and highs of $1.05. Additionally, those range-highs and range-lows have been very apparent with no variation when VTVT stock approaches and tests those exact price points.

Most recently, shares of the low-priced stock tested levels below the 200-day and 50-day moving averages. However, VTVT stock managed a strong rebound this week above both significant technical levels. What was the catalyst? News from Cantex Pharmaceuticals helped spark momentum in the penny stock today. Specifically, Cantex licensed Azeliragon, previously known as TTP488, from vTv.

– 10 Penny Stocks Under $1 To Watch Now, Time To Buy?

This week Cantex announced that along with Baptist Health Miami Cancer Insitute, the FDA issued a “Study May Proceed” letter for an investigator-initiated trial assessing the safety and effectiveness of the treatment combined with stereotactic radiosurgery in patients with brain metastases. Azeliragon was also recently granted FDA Orphan Drug Designation for treating glioblastoma.

Novo Integrated Sciences (NVOS)

While there haven’t been many new updates from the company recently, the market may be looking at further action in response to its initial business update at the start of the year. As we discussed in our article about NVOS stock in January, a proposed purchase agreement is where the focus could be for the market. An 8-K filing showed that the company entered into a purchase agreement with SwagCheck Inc. to buy that company and 100% of its outstanding shares “in exchange for $1.00.”

It also highlighted that SWAG holds “a specific right of purchase of a precious gem collection as provided for in an agreement between SWAG and a Court-appointed Successor Receiver for the United States District Court for the Central District of California.” Novo is also said to be receiving a $90 million financing commitment, with $60 million being distributed “directly to a receiver for the purchase of the Gems by SWAG” and $30 million in “mark-up” allocated for the benefit of the outgoing SWAG shareholders.

There haven’t been many updates related to this deal. However, it is a source of speculation, and something traders are watching for right now.

List Of Penny Stocks To Watch

• Sono Group (NASDAQ: SEV)
• Myomo Inc. (NYSEAMERICAN: MYO)
• vTv Therapeutics (NASDAQ: VTVT)
• Novo Integrated Sciences (NASDAQ: NVOS)

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