By ST Staff
12:24 AM UTC
Stocks under $1 have a reputation to be speculative investments and the trade trends of these penny stocks are volatile. Investors make a sizable number of investments in stocks under a dollar based on speculations and hope that the volatility of the stock trend shifts in their favor. Penny stock investors burn a lot of their investment due to volatility. They also lose a lot of money due to poor decision-making behind the investment – now this is because penny stocks are often subjected to pump and dump plays by investors. With this context in mind.
The first stock in our list of top stocks under $1 to buy now is – Sundial Growers (SNDL). It is known for producing, marketing, and selling cannabis that is specifically targeted for adult usage and is primarily inhalable products.
We chose Sundial because the growing trend in the cannabis market strongly indicates growth. Despite the pandemic shutdowns in 2020, SNDL shares have nearly doubled in value. According to market research by The Brightfield Group, the Hemp CBD market will reach $16 billion by 2025.
The U.S neutraceutical industry is expected to grow roughly by $100 billion in 2022 which is good news for Sundial’s growth and expansion. Furthermore, the US cannabis market has yet to reach its full potential because Federal regulations have yet to pass a bill to legalize marijuana in the USA. When that happens, it will be open sesame for the cannabis industry to grow. The Canadian and European cannabis industry is expected to enter the US market if this bill passes. SNDL already has a massive average volume of around 190 million for the past 90 days- which makes it super liquid. Moreover, SNDL has expanded through acquisition to become the largest retail network in Canada.
Despite not having any pending acquisitions in the US market and having a relatively smaller market cap, the year-to-date performance of SNDL is 68% – which outperforms that of major cannabis companies by a huge margin.
What makes SNDL a worthy cannabis stock is the comparatively stand-out performance of the company in the market and the promising growth trend of the overall cannabis industry.
The second stock in the list of best stocks under $1 is – Zomedica Corporation (ZOM). It is an American-based veterinary health company that focuses on creating products for cats and dogs. ZOM is considered to be – an underdog penny stock.
In the first quarter of 2021 and the last quarter of 2020, the company reported net losses of $0.05 and $0.04 per share respectively. The ZOM stock’s performance in the past half-year is -34.34% but the yearly performance however is a triple-digit growth of 172.25%. It is important to note that the company was in the development stage in 2020 and was only able to start generating revenue from the last 15 days of the quarter ending in March 2021.
We have placed ZOM stock in our list of best stocks under a dollar because although it had a muddy start into 2021, there are still very promising growth potentials ahead for the company and its market.
A report published in the Grand View Research states that the global veterinary medicine market is expected – to expand from 2021 to 2028 by a compound annual growth rate of 7.4%. The research points out the growing chronic and zoonotic diseases as one of the main reasons for market growth.
67% of the households in the US kept at least a single pet and spent an aggregate of around $99 billion on their pets in 2020. This data shows that Zomedica is well-positioned for commercially releasing its new proprietary diagnostic system in the market. The diagnostic system is called TRUFORMA which detects thyroid disorders in cats and dogs. The company will be profiting from the sales of this untapped and growing veterinarian diagnosis market thanks to its uniquely differentiated diagnostic system.
Furthermore, the company has reported a $276.6 million cash liquidity which is a significant jump compared to $1.5 million last year. The company is also strategizing an acquisition and licensing effort by hiring a new VP for business development. This shows that the company is well-positioning itself to grow its sales force and drive up its sales through the right tactics.
Next on our list is a Robinhood-based penny stock known as Inuvo Inc. (NYSE: INUV). It is an advertising agency which is relying on state-of-the-art AI technology to enhance its commercialization solutions. Inuvo’s latest product has the potential to be revolutionary in the upcoming digital marketing trends.
Its patented AI-driven commerce solution is known as IntentKey. In fact, IntentKey is the key to the company’s success as a penny stock and beyond.
What is more interesting is that the company has partnered with Google and subsidiary Vertro which will allow it to reach the online audience for generating high-quality leads. It will do so through the use of Google’s WebSearch and AdSense For Search services.
The company is showing promising metrics and growth in its fundamentals. The Inuvo stock is now up by 100% in 2021 – and Inuvo has year-over-year revenue growth of 63% for the second quarter of 2021. The market cap of the company is 94.9 million and has an adequate price-to-sale ratio of 2.35. Moreover, the $17.8 million cash on hand of the firm will further aid Inuvo in capturing the market. The analyst score received by the company is a solid 2 out of 5 (where 1 is equal to buy and 5 is equal to sell).
In 2022 it is expected that the third-party cookie will disappear from the internet. This will allow the company to be in an extremely advantageous position in the online-lead generation market.
Software services and solutions like IntentKey are defining tools for the digital market era in which we are immersing, – this makes Inuvo a phenomenal under $1 stock.
These last two stocks are also worth watching over the next few weeks.
COVID-19 remains a concern for many people despite a large number of Americans having been immunized against it. When it comes to escaping the pandemic, we have a long way to go based on the rise of the Delta variant. The role of companies like Oragenics in this is crucial. As of right now, they are developing their own version of the COVID-19 vaccine.
More than 40 percent of Americans have not yet been vaccinated against COVID-19. In addition, there are many other countries with little access to vaccines. As a result, the Oragenics vaccine has plenty of room in the market if it is introduced in time.
In order to advance vaccine development, a partnership was recently formed between the National Research Council of Canada and the company. The stock of this company comes with certain risks, as this vaccine is currently the only product it is working on. Nevertheless, high-risk investors may find this a promising investment in the future.
New York-based Tonix Pharmaceuticals develops therapies for neurological and immunological disorders. Their therapeutic areas range from post-traumatic stress disorder to fibromyalgia to major depressive disorder to agitation in Alzheimer’s patients.
The treatment options for each of these conditions are currently limited. It would be a life-changing event for these patients if Tonix Pharmaceuticals could bring any of its pipeline drugs to market.
Additionally, Tonix is developing a multi-dose COVID-19 vaccine as well as products for treating long-term COVID symptoms.
The ‘long COVID’ treatment has been a popular topic with investors. This is because of the negative effects currently being experienced by the Delta variant. Tonix is currently negotiating with the FDA for approval of their COVID treatments, which bodes well for the company’s future.
In spite of the fact that some COVID-19 vaccines and treatments are already available, the pandemic continues. Tonix Pharmaceuticals has the potential to generate very substantial profits by bringing these treatments to the global market.
A recent earnings report was published by the firm. Investors reacted positively to Tonix’s stock price rise, as it temporarily rose more than 10 percent.
Reddit users frequently refer to Tonix as a meme stock due to its popularity.
Investors are advised to closely monitor developments involving this stock. Profiting from the ups and downs of this stock can be done by timing your investment properly.