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      30+ Best Stocks Under $2 to Invest in 2023

      By Hasnain R

      Published on

      June 11, 2023

      9:28 AM UTC

      Last Updated on

      July 19, 2023

      11:02 AM UTC

      30+ Best Stocks Under $2 to Invest in 2023

      Stocks under $2 are a great way to begin your investing journey in the stock market. Penny stocks are often risky but the chance of making larger profits is equally high.

      Since volatility is more frequent than higher-priced is a good rule of thumb to look for stocks that offer at least 50% upside potential.

      For instance, if you invest $100 into two companies and each company grows at 15% per year, you will have a total return of 300% in five years.

      Thus, stocks under $2 can be a great way to invest, especially when looking for long-term trends.

      Most people never take the time to research a stock before they purchase it, and they usually buy stocks based on what friends or family members tell them to do. That might lead to huge losses.

      We have selected a list of the best stocks under $2 to invest now:

      Best $2 Stocks To Buy Today

      Ticker Company Price
      AGEN Agenus Inc. 1.99
      EMAN eMagin Corporation 1.99
      ATAI Atai Life Sciences N.V. 1.75
      OTLK Outlook Therapeutics, Inc. 1.73
      ARAV Aravive, Inc. 1.65
      SNDL SNDL Inc. 1.41
      CSSE Chicken Soup for the Soul Entertainment, Inc. 1.34
      CLSD Clearside Biomedical, Inc. 1.28
      BHIL Benson Hill, Inc. 1.25
      GSAT Globalstar, Inc. 1.22
      BCEL Atreca, Inc. 1.21
      ICAD iCAD, Inc. 1.2
      CLNN Clene Inc. 1.03
      ITRG Integra Resources Corp. 1.03
      PASG Passage Bio, Inc. 0.96
      AGIL AgileThought, Inc. 0.8
      GBNH Greenbrook TMS Inc. 0.72
      AFMD Affimed N.V. 0.71
      LPTX Leap Therapeutics, Inc. 0.62
      RWLK ReWalk Robotics Ltd. 0.59
      FBIO Fortress Biotech, Inc. 0.59
      EGLX Enthusiast Gaming Holdings Inc. 0.41
      LOCL Local Bounti Corporation 0.38

      2 Dollar Stocks Details

      Here are the details of some of the selected stocks under $2.

      • Enthusiast Gaming

        Enthusiast Gaming Holdings Inc. is a company that operates in the media, content, entertainment, and esports industries.

        With a presence in the United States, Canada, and internationally, the company runs a network of about 100 gaming-related websites and organizes the Enthusiast Gaming Live Expo, a prominent video-gaming expo.

        They offer management and support services to professional gamers and own and manage esports teams for various popular games.Enthusiast Gaming

        Additionally, Enthusiast Gaming produces approximately 30 weekly shows across AVOD and OTT channels, representing around 500 gaming influencers on platforms like YouTube and Twitch.

        They also operate the well-known esports franchise, Luminosity Gaming, and host both B2B and consumer mobile gaming events. Founded in 2018, the company is headquartered in Toronto, Canada.

      • Local Bounti Corporation (LOCL)

        Local Bounti Corporation is a leading agricultural technology company that specializes in indoor farming. With a focus on sustainability and efficiency, the company has developed innovative solutions that allow for year-round, pesticide-free crop production. Their advanced hydroponic systems use 90% less water than traditional farming methods, making them an attractive option for investors looking to support environmentally conscious companies.

        In terms of stocks, Local Bounti Corporation is a promising investment opportunity. With a market capitalization of just under $100 million, the company has significant room for growth in the coming years. Their recent partnership with a major grocery chain has already garnered attention from investors, and their commitment to sustainable farming practices puts them in a strong position to capitalize on the growing demand for eco-friendly products.

        As the world continues to grapple with the effects of climate change, companies like Local Bounti Corporation are well-positioned to thrive. Their innovative technology and commitment to sustainability make them a smart choice for investors looking to support companies that are making a positive impact on the environment. With a current stock price of just under $2, Local Bounti Corporation is a great option for those looking to invest in the future of agriculture and sustainability.

      • Integra Resources (ITRG)

        Integra Resources Corp. is a mineral resources company that specializes in the acquisition, exploration, and development of mineral properties in the Americas.

        Its primary focus is on the DeLamar project, which encompasses the DeLamar and Florida Mountain gold and silver deposits.

        This project includes many unpatented lode, placer, and mill site claims, as well as tax parcels covering a vast area in Owyhee County, located in southwestern Idaho.

        Previously known as Mag Copper Limited, the company changed its name to Integra Resources Corp. in August 2017. Founded in 1997, Integra Resources Corp. is headquartered in Vancouver, Canada.

      • AcuityAds

        AcuityAds Holdings, Inc. is a company that specializes in offering digital advertising solutions. Its operations are divided into three geographical segments: the United States, Canada, Europe, and Others.

        The company was established on October 9, 2009, by founders Tal Hayek, Nathan Mekuz, Rachel Kapcan, and Joe Ontman. Its headquarters are located in Toronto, Canada.

        AcuityAds Holdings, Inc. remains committed to providing innovative digital advertising services to its clients.

      • Fortress Biotech (FBIO)

        Fortress Biotech, Inc. is a company that focuses on manufacturing and commercializing innovative pharmaceutical products and product candidates.

        The company operates through two segments: Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development. Its portfolio includes a range of products such as Ximino, Targadox, Exelderm, Ceracade, and Luxamend.

        Fortress Biotech, Inc. remains committed to advancing the development and availability of novel pharmaceutical solutions for various therapeutic areas.

        The company was founded in 2006 and is headquartered in Bay Harbor Islands, FL

      • Leap Therapeutics (LPTX)

        Leap Therapeutics, Inc. is a pioneering biopharmaceutical company specializing in the acquisition and development of innovative antibody therapies for the effective treatment of various cancers.

        The company’s primary focus revolves around its exceptional product candidates.

        Among them, DKN-01 stands out as a monoclonal antibody with tremendous potential for inhibiting Dickkopf-related protein 1.

        Currently, DKN-01 is being evaluated in multiple ongoing clinical trials for treating esophagogastric and gynecologic cancers.

        Additionally, the company’s portfolio includes FL-301, a promising monoclonal antibody that targets cells expressing Claudin18.2 on their cell surface, with phase I clinical trials underway.

        Leap Therapeutics also boasts two preclinical antibody programs, namely FL-302 and FL-501, further enhancing its innovative pipeline.

        To expand its reach, Leap Therapeutics has strategically entered into an option and license agreement with BeiGene, Ltd.

        The agreement enables the development and commercialization of DKN-01 in Asia (excluding Japan), Australia, and New Zealand, thereby enhancing its global presence.

        Originally known as HealthCare Pharmaceuticals, Inc., the company underwent a transformation in November 2015 and adopted the name Leap Therapeutics, Inc.

        Since its incorporation in 2011, Leap Therapeutics has been headquartered in Cambridge, Massachusetts, the thriving hub of scientific and medical innovation.

      • Passage Bio (PASG)

        Passage Bio, Inc. is a pioneering genetic medicines company dedicated to revolutionizing the treatment of central nervous system diseases.

        The company’s groundbreaking therapies hold the potential to bring about transformative changes in patient outcomes.

        One of their notable developments is PBGM01, a therapy that utilizes a proprietary AAVhu68 capsid.

        This delivery system aims to transport a functional GLB1 gene encoding lysosomal acid beta-galactosidase, with the goal of addressing infantile GM1.

        Additionally, Passage Bio is advancing PBFT02, which employs an AAV1 capsid to deliver functional granulin (GRN) and gene-encoding progranulin (PGRN) to the brain. This therapy targets FTD-GRN, a form of frontotemporal dementia.

        Furthermore, PBKR03 utilizes a proprietary AAVhu68 capsid to deliver a functional GALC gene encoding the hydrolytic enzyme galactosylceramidase, focusing on infantile Krabbe disease affecting both the brain and peripheral tissues.

        Passage Bio’s commitment to innovation extends to the development of PBML04 for metachromatic leukodystrophy, PBAL05 for amyotrophic lateral sclerosis, and PBCM06 for Charcot-Marie-Tooth Type 2A, demonstrating their dedication to addressing a wide range of CNS disorders.

        In pursuit of its mission, Passage Bio has forged strategic research collaborations with the Trustees of the University of Pennsylvania’s Gene Therapy Program.Passage Bio

        They have also established a collaboration agreement and a development services and clinical supply agreement with Catalent Maryland, Inc., strengthening their capabilities and expanding their reach.

        Founded in 2017, Passage Bio, Inc. is headquartered in the vibrant city of Philadelphia, Pennsylvania, at the heart of groundbreaking medical research and innovation.

      • ReWalk Robotics (RWLK)

        ReWalk Robotics (RWLK) is the world’s leading innovator in exoskeletons for people with lower limb disabilities.

        The company produces and markets robotic products to rehabilitation centers, clinics, and home users – including the ReWalk Personal System.

        RWLK stock trades around its 52-week lows and is in a great upside position. ReWalk is a highly undervalued stock under $2 based on its functions and how it will capture the market in the next few years.

        The company has developed a “robotic exoskeleton,” known as ReWalk. That allows people “with spinal cord injury to stand upright, walk, turn, and climb and descend stairs.

        Importantly, the company reported recently that the device had obtained “breakthrough status” by the FDA.

        ReWalk has also developed ReStore, a powered, lightweight soft exo-suit. ReStore helps in the rehabilitation of individuals with lower limb disabilities due to stroke. That product was approved by the FDA in 2019.

        ReWalk has reported unimpressive revenues so far. With ReWalk’s product getting a breakthrough device designation, we’ll see an increase in sales.

        In Germany, insurers that have a total of 25 million clients have agreed to cover ReWalk. While nearly every German worker who has “work-related injuries” is eligible to receive the device.

        Given the company’s tremendous opportunities and its current market capitalization of just under $80 million, shares of RWLK can be considered the best stocks under $2 to buy today.

      • eMagin Corporation (EMAN)

        eMagin (EMAN) is one of the leading OLED developers in the world. The company develops microdisplays for high-resolution, AR/VR, and other near-eye imaging products.

        The company recently announced that it had developed the world’s brightest high-resolution, full-color OLED microdisplay. Displays are the key enabling component for both AR and VR.

        eMagin’s new full-color OLED prototype will be sought by consumer, industrial, medical, and military customers for the next generation of AR/VR headsets and devices.

        This is a historic moment for the industry and is eMagin’s greatest achievement to date in advancing its proprietary dPd technology.

        According to DSCC, a research firm that specializes in the display market, eMagin’s new, improved microdisplay should interest consumer, industrial, medical, and military customers.

        Given the increasing popularity of metaverse and AR and VR systems, that sounds like a very large addressable market for the company.

        Moreover, providing some validation for eMagin’s technology, the company recently put the finishing touches on a $33.6 million deal with the Pentagon.

        Under the agreement, eMagin will provide the military with high-resolution, high-brightness OLED microdisplays.

        EMAN stock is changing hands for 5.5 times analysts’ average 2022 revenue estimate for the company. eMagin has a competitive advantage in microdisplays.

        Given the rapid growth and huge potential of the AR/VR market, EMAN stock can be considered for investment while looking at the best stocks under $2.

      • Globalstar Inc. (GSAT)

        Globalstar (GSAT) has been a leader in the satellite voice and data communications service industry for over 25 years.

        It has been a pioneer in developing a breakthrough system that provides a global network consisting of 66 low-Earth orbiting satellites.

        In 2001, GSAT became one of the first companies to launch a satellite phone service with permanent Earth coverage.

        With the ever-increasing use of mobile devices, the need for global satellite communication has never been greater.

        GSAT was just one of many penny stocks under $2 that made some wild moves in 2021. Thanks to speculative frenzy.

        Specifically, this satellite communications play has spiked and sunk thanks to rumors of Apple signing on as a customer to give iPhones satellite connectivity.

        Unfortunately, at the moment, we do not see an Apple partnership anytime soon. The verdict on that rumor is pretty much in at this point.

        However, a tremendous upside for GSAT stock could arise due to factors independent of any possible partnership with the FAANG component.

        Globalstar could go parabolic if it manages to lock down a connectivity deal with another big-ticket end user.

        Given the continued high growth of the Internet of Things industry, demand is only going to get stronger for satellite communications services.

        Considering how much C-band spectrum it owns, Globalstar can take on much more business than it generates today. That is around $123 million in annual sales.

        A quarter or two of bad results could sink shares to a sub-$1 level. Yet, with its high leverage serving as a double-edged sword, a major deal would likely result in another round of epic moves for GSAT stock.

      • Sundial Growers (SNDL)

        Sundial Growers (SNDL) is a Canadian company that primarily sells cannabis products for recreational use.

        The Canadian cannabis and liquor company is infamous for its extreme dilution of stock by over 19-fold to fund its operations and expansions.

        Historically, the company has not been EBITDA profitable due to intense competition in Canada. However, things are expected to turn around soon.

        Traders got ahead of themselves last winter, bidding up SNDL stock due to its appeal as a pot legalization play.

        If U.S. federal cannabis legalization finally happens next year, Cannabis stocks will skyrocket and so will SNDL fall in the list of best stocks under $2.

        Although the market isn’t confident in that happening with signs it’s becoming a bi-partisan issue.

        Still, the legalization could come about much sooner than expected. But better yet, big gains could happen even without legalization progress in the near future.

      How to Buy Stocks Under $2?

      Buying stocks under $2 can be an attractive option for investors looking for potential high-growth opportunities or seeking to diversify their portfolios.

      Here are some steps to consider when you think about how and where to buy stocks under $2:

      • Research and Due Diligence

        Before investing in any stock, it’s crucial to conduct thorough research and due diligence. Analyze the company’s financials, business model, competitive advantage, growth prospects, and any recent news or developments.

        Look for stocks with solid fundamentals and a clear growth trajectory.

      • Choose a Brokerage Account

        Now the question is where to buy stocks under $2? For that, you’ll need to open a brokerage account. Many online brokerages offer low-cost or commission-free trading, making it easier and more affordable to invest in stocks.

        Research different brokerage platforms, compare their fees, available services, and user reviews, and select one that aligns with your investment goals.

      • Set a Budget

        Determine how much you’re willing to invest in stocks under $2 and set a budget accordingly. It’s generally advisable not to allocate a significant portion of your portfolio to highly volatile and speculative stocks, as they carry a higher level of risk.

      • Consider Stock Exchanges

        Stocks priced under $2 are often listed on small-cap or penny stock exchanges. Examples include the OTC Markets Group (OTCQX, OTCQB, OTC Pink) and the Pink Sheets.

        Be aware that stocks listed on these exchanges may have less liquidity and be subject to higher volatility.

      • Monitor Liquidity and Volume

        When investing in stocks under $2, it’s important to monitor liquidity and trading volume.

        Higher trading volume indicates greater liquidity and easier execution of buy and sell orders. Low trading volume can make it challenging to enter or exit positions.

      • Place Your Order

        Once you have identified a stock you want to purchase, log into your brokerage account and place your order.

        You can choose between market orders (buying at the current market price) or limit orders (setting a specific price at which you want to buy).

      • Practice Risk Management

        Investing in lower-priced stocks can be riskier due to their potential for higher volatility and lower liquidity. Therefore, it’s crucial to practice sound risk management.

        Consider diversifying your portfolio, setting stop-loss orders to limit potential losses, and maintaining a long-term investment mindset.Practice Risk Management

      • Stay Informed

        Keep track of news and updates related to your investments. Regularly review the company’s financial reports, industry trends, and any significant developments that may affect the stock’s performance.

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        Where to Invest in Stocks Under $2

        When looking to invest in stocks under $2, one of the common questions is where to invest in stocks under $2. Here are some places where you can find and invest in stocks priced under $2:

      • Major Stock Exchanges

        While most stocks listed on major exchanges like the New York Stock Exchange (NYSE) or NASDAQ have prices above $2, it is still possible to find stocks that temporarily fall below that threshold due to market fluctuations.

        Keep an eye on these exchanges and use stock screeners or financial news platforms to identify potential opportunities.

      • Over-the-Counter (OTC) Markets

        The OTC markets, such as OTCQX, OTCQB, and OTC Pink, are popular for trading stocks that are not listed on major exchanges. Many penny stocks and low-priced stocks are traded on these platforms.

      • Small-Cap and Micro-Cap Index Funds

        Investing in small-cap or micro-cap index funds can provide exposure to a diversified basket of stocks, including those with prices under $2.

        These funds often track indices of small companies and may include stocks in the lower price range.

      • Online Brokerages and Trading Platforms

        Many online brokerages and trading platforms provide access to stocks of various price ranges, including those under $2.

        These platforms often offer research tools, market data, and trading functionality to help you identify and invest in stocks that fit your criteria.

      • Penny Stock Exchanges

        Some exchanges specialize in trading penny stocks, which are generally considered stocks priced under $5. These exchanges include the OTC Markets Group and Pink Sheets.

      Tips for Investing in Stocks Under $2

      Investing in stocks under $2 can be appealing for investors looking for potentially higher returns. However, it’s important to approach these investments with caution and consider the following tips:

      • Do Thorough Research

        Conduct in-depth research on the company you’re interested in. Review its financial statements, earnings reports, management team, competitive landscape, and growth prospects. Look for positive signs of potential future growth.

      • Understand The Risks

        Stocks priced under $2 are often more volatile and can carry higher risks. They may be associated with smaller companies, startups, or those facing financial challenges. Be prepared for potential price fluctuations and the possibility of losing your investment.

      • Diversify Your Portfolio

        Don’t put all your money into just one or a few stocks under $2. Diversify your investments across different sectors, industries, and market caps to spread the risk.

        This way, if one stock underperforms, it won’t have a significant impact on your overall portfolio.

      • Consider The Company’s Fundamentals

        Even with lower-priced stocks, it’s important to analyze the company’s fundamentals. Look for strong revenue growth, a competitive advantage, a solid business model, and a healthy balance sheet. Avoid companies with excessive debt or consistent losses

      • Set Realistic Expectations

        Understand that stocks under $2 may not be widely followed by analysts or institutional investors. Their price levels may reflect the company’s current situation or challenges.

        Set realistic expectations for potential returns and be prepared for a longer investment horizon.

      • Use Limit Orders

        When placing trades for stocks under $2, consider using limit orders instead of market orders.

        Limit orders allow you to specify the maximum price you’re willing to pay or the minimum price you’re willing to sell at. This helps you avoid unexpected price fluctuations and ensures you execute trades at your desired price

      • Consider Professional Advice

        If you’re unsure about investing in stocks under $2 or lack the time and expertise for thorough research, consider consulting with a financial advisor or professional.

        They can provide guidance based on your financial goals, risk tolerance, and investment strategy.

      Risks and Considerations in Investing in Low-Priced Stocks

      Investors may find opportunities in low-priced stocks, including those under $2, but it is critical to understand the risks and factors to be taken into account. Here are some key points to keep in mind:

      • Volatility and Price Fluctuations

        Low-priced stocks tend to be more volatile and can experience significant price fluctuations. The lower the stock price, the higher the percentage change in price for each movement. This volatility can result in both potential gains and losses.

      • Higher Risk

        Low-priced stocks are often associated with smaller companies, startups, or those facing financial challenges.

        These companies may have a limited operating history, smaller market caps, or higher debt levels, making them riskier investments.

        There’s a higher probability of business failures, bankruptcy, or the stock becoming worthless.

      • Limited Liquidity

        Low-priced stocks typically have lower trading volumes and may lack sufficient liquidity. This means that it can be challenging to buy or sell these stocks at desired prices, and bid-ask spreads may be wider.

        Illiquidity can lead to difficulties in exciting positions or increased price volatility when trading volumes are low.

      • Lack of Information and Analyst Coverage

        Companies with low-priced stocks often receive less attention from analysts and institutional investors. As a result, there may be limited information and research available to individual investors.

      • Potential Manipulation

        Low-priced stocks can be susceptible to price manipulation or fraudulent activities, such as pump-and-dump schemes.

        These schemes involve artificially inflating the stock price through misleading information or false promotions, followed by selling off shares at the inflated price.

      • Limited Investment Options

        Many brokerage firms have minimum price requirements or restrictions on trading low-priced stocks. Some may charge higher fees or require additional approvals for trading these stocks.

      • Portfolio Concentration

        Investing in low-priced stocks can lead to portfolio concentration if a significant portion of your investments is allocated to these stocks. Concentration increases the risk of losses if any of the investments perform poorly.

      • Long-Term Viability

        When investing in low-priced stocks, consider the long-term viability of the company. Evaluate its financial health, competitive positioning, growth prospects, and ability to generate sustainable earnings.

        It’s essential to distinguish between stocks with growth potential and those with underlying issues or temporary price fluctuations.

      Importance of Diligence and Monitoring

      Diligence and monitoring are crucial aspects of investing, especially when it comes to low-priced stocks. Here’s why they are important:

      • Risk Mitigation

        Diligence and monitoring help mitigate investment risks. By conducting thorough research and due diligence before investing, you can assess the financial health, industry dynamics, and growth prospects of the company.

      • Fraud Detection

        Diligence helps uncover fraudulent activities or misleading information that may be associated with low-priced stocks. By scrutinizing financial statements, regulatory filings, news releases, and other sources of information, you can identify red flags and potential scams.

      • Long-Term Performance

        Diligence and monitoring contribute to long-term investment success. By continuously assessing the company’s performance, industry trends, and competitive landscape, you can make better judgments about holding, selling, or adding to your position.

      • Learning Opportunities

        Diligence and monitoring provide valuable learning opportunities for investors. By actively researching and monitoring your investments, you gain insights into various industries, company fundamentals, and market trends.

      • Adapting to Changing Conditions

        Market conditions and company fundamentals can change rapidly. Diligence and monitoring enable you to adapt to these changes and adjust your investment strategy accordingly.

      • Investor Confidence

        Diligence and monitoring contribute to investor confidence. When you have conducted thorough research and are actively monitoring your investments, you have a better understanding of your portfolio’s performance and risks.stocks under $2: Investor Confidence

        This knowledge helps you make confident investment decisions and reduces the likelihood of making impulsive or emotionally-driven choices.


      Do Penny Stocks Ever Go Big?

      Yes, penny stocks have the potential to go big. While many penny stocks may not experience significant growth, there have been instances where certain penny stocks have seen substantial increases in value, resulting in significant returns for investors.

      Are These Under $2 Penny Stocks Worth Buying?

      The worthiness of under $2 penny stocks can vary greatly and is dependent on various factors such as the company’s financial health, industry prospects, and market conditions.

      What Are The Best Stocks Under $2?

      • Bioventus Inc. [NASDAQ: BVS]
      • Rigel Pharmaceuticals Inc. [NASDAQ: RIGL]
      • 180 Life Sciences Corp. [NASDAQ: ATNF]
      • ESS Tech Inc. [NYSE: GWH]
      • Celularity Inc. [NASDAQ: CELU]
      • Genius Group Limited [AMEX:GNS]

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