Best Penny Stocks To Buy Now? 4 Under $4 To Watch Today (2023)

What’s Going On In The Stock Market Today

This stock market game is a tough one to play this year if you’re not prepared. Whether you’re trading penny stocks or Apple (NASDAQ:AAPL), volatility is high, which means knowing how to pivot.

In the stock market today, things already got off to a rocky start thanks to better-than-expected ADP September job growth. Employment data has been one of the major sticking points for investors speculating on the Federal Reserve’s next move regarding monetary policy & rate hikes.

Nevertheless, this isn’t to say that all stocks are heading lower today. There are plenty of cheap stocks to watch, making new intra-day highs. The important part for you as a trader is knowing how to trade the trend. A slower-moving stock isn’t a good fit if you’re day trading.

Then again, if you’re investing in penny stocks, the one-day breakouts aren’t suited for you either. This article looks at some of the most popular penny stocks today. They are moving for different reasons, and some may also have future events to be aware of if you’re looking at the longer-term time frames.

Penny Stocks To Buy For Under $4

  1. iMedia Brands Inc. (NASDAQ:IMBI)
  2. Pedevco Corp. (NYSEAMERICAN:PED)
  3. Roivant Sciences (NASDAQ:ROIV)
  4. Snow Lake Resources Ltd. (NASDAQ:LITM)

When finding the best penny stocks to buy, a good place to begin is with a watch list. Here is a quick list of penny stocks that can be purchased for under $4 and may be top names to watch in the stock market today.

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

Thinly traded iMedia Brands has seen a spike in trading activity over the last few months. Overall, this trend has been more bearish than bullish, with IMBI stock pulling back significantly from August 19th. The latest round of earnings was one of the biggest negative catalysts behind the drop. The company reported a loss of $14.3 million, earnings per share missed analyst estimates, and the company cut its sales outlook.

So what’s going on with IMBI stock now that it’s trading below $1? Late last month, the company expanded its board to include Richard French Jr., who has helmed RNN Media Group since 1997, an independent broadcast group of stations in Philadelphia, Washington, DC, and Boston.

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Best Penny Stocks to Buy as the Market Turns Bullish

Landel Hobbs, the chairperson of Media, said in a September update, “It was about a year ago that ShopHQ signed its affiliation agreement with RNN and when Dick began to provide insight to us on the ever-changing television distribution landscape, from opportunities in broadcast to cable and from over-the-air to over-the-top. He is also a successful entrepreneur and participated in our recent equity raise. We are excited to have him join us and immediately impact our growth strategy.”

ShopHQ is iMedia’s flagship nationally distributed, live lifestyle television network.

2. Pedevco Corp. (NYSEAMERICAN:PED)

Best Penny Stocks To Buy Now? 4 Under $4 To Watch Today (2)

The energy company Pedevco Corp. has also seen its share price climb over the last few days. After reaching 52-week lows of $0.90 last month, PED stock has been on the move. While the energy sector has been heating up overall, Pedevco is in the spotlight for a little over 1 million other reasons.

That’s because CEO and 10% owner Simon Kukes has been amassing a larger position in the company. As of the most recently filed Form 4, Kukes’ direct holdings are just over 5 million. Indirectly through his SK Energy LLC, the fund has more than 51.79 million. He has been a net buyer of PED stock throughout 2022.

In the company’s last earnings update, Pedevco reported strong sales growth and earnings per share of $0.04. It produced 155% more revenue this past Q2 than the previous year’s period. Meanwhile, operating income for the quarter surged 600% during the same period.

J. Douglas Schick, President of the Company, explained, “We are pleased with our strong Q2 2022 results. We not only significantly increased production, but we also delivered $0.04 in earnings per share and generated Adjusted EBITDA of $6.0 million in the quarter. Looking ahead, we plan to leverage our ~$25 million of cash and zero debt as we evaluate additional drilling and growth opportunities in our Permian Basin and D-J Basin assets, all in our continued effort to grow production, revenue and profit for the benefit of our shareholders.”

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Thanks to the strength in the energy market and bullish sentiment from significant insider buying, PED stock could be on the watch list this quarter.

3. Roivant Sciences (NASDAQ:ROIV)

Best Penny Stocks To Buy Now? 4 Under $4 To Watch Today (3)

A much steadier mover in the stock market recently is Roivant. Shares have slowly increased over the last few weeks as the company looks to raise $1 billion. Roivant Sciences submitted a filing for a mixed shelf offering for the ten-figure sum as the biotechnology company aims to continue advancing its pipeline.

As CEO Matt Gline explained in an August update, “The recent positive topline results from Torii Pharmaceutical and Japan Tobacco’s study of tapinarof in atopic dermatitis underscore our conviction in VTAMA’s potential in AD as our own Phase 3 trials progress. We are also pleased with recent execution across the rest of our pipeline, including the continued progress in our pivotal trials at Immunovant and Priovant. We are proud to advance the development of these important medicines for patients.”

Considering several potential milestones to look for during the year’s second half, ROIV stock could be on the radar. These include initiating two trials to evaluate the company’s batoclimab for thyroid eye disease and announcing two new indications for the platform, with a third expected to begin as a trial later this year as well.

4. Snow Lake Resources Ltd. (NASDAQ:LITM)

Best Penny Stocks To Buy Now? 4 Under $4 To Watch Today (4)

EV stocks are getting recharged thanks to attention on renewables. Snow Lake Resources is a raw materials supplier to this market, offering lithium to North American EV and battery markets. According to the company, its Thompson Brothers Lithium Project covers over 55,000 acres and has only been 1% explored. Furthermore, Snow Lake has explained that the project contains an identified-to0date 11.1 million metric tons indicated and inferred resource at 1% Li2O.

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LITM stock has been bouncing back for days thanks to its canceled public offering. The lithium miner scrapped a capital raise that would have added 10 million shares to the mix. This week, Snow Lake announced that it hosted LG Energy Solutions to look into a potential domestic supply chain for the North American electric vehicle market. The two are collaborating to see the delivery of one of Canada’s first lithium hydroxide processing plants in Manitoba.

“The visit was a great success, and there is an exceptional opportunity here in Manitoba to establish a strong domestic supply chain for the US automobile industry. Following our exciting collaboration with world-leading LG Energy Solution, we are confident that our rock to road battery supply chain will help the electric vehicle market in North America,” explained CEO Philip Gross.

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FAQs

What is the best penny stocks to buy right now? ›

Best Penny Stocks To Buy Now In India
  • Best Penny Stocks To Buy Right Now In India.
  • Suzlon Energy Ltd.
  • South Indian Bank.
  • Impex Ferro Tech Ltd.
  • Visa Steel Ltd.
  • Vodafone Idea Ltd.
  • Frequently Asked Question (FAQs)
31 Oct 2022

What penny stocks are hot right now? ›

More Hot Penny Stocks
ACBAurora Cannabis Inc.0.0200 / 1.5300%
PRCHPorch Group Inc.0.6100 / 40.9400%
GOEVCanoo Inc.0.0250 / 2.3700%
GMBLEsports Entertainment Group Inc.0.0229 / 22.6700%
TENXTenax Therapeutics Inc.0.0140 / 11.2900%
20 more rows
3 days ago

What are the top 5 penny stocks? ›

5 Penny Stocks To Watch
  • iQIYI Inc. ( NASDAQ: IQ)
  • Homology Medicines (NASDAQ: FIXX)
  • electroCore (NASDAQ: ECOR)
  • Grab Holdings (NASDAQ: GRAB)
  • Porch Group Inc. ( NASDAQ: PRCH)
17 Nov 2022

Which is the best penny stocks to buy in 2022? ›

Below is a list of a few penny stocks to buy now that have the potential to become multibagger penny stocks in 2022.
  • Vodafone Idea.
  • Suzlon Energy.
  • Alok Industries.
  • Hemang Resources.
  • Indian Overseas Bank.
20 Oct 2022

What's the fastest growing penny stock? ›

Fastest Growing Penny Stocks
Price ($)Revenue Growth (%)
Atara Biotherapeutics Inc. (ATRA)4.651,230
VAALCO Energy Inc. (EGY)4.97140.0
Olaplex Holdings Inc. (OLPX)4.2038.6

What is the most profitable penny stock? ›

10 Most Successful Penny Stocks That Made It Big
  • GameStop Corp. (NYSE:GME) ...
  • Ford Motor Company (NYSE:F) Number of Hedge Fund Holders: 46. ...
  • Monster Beverage Corporation (NASDAQ:MNST) Number of Hedge Fund Holders: 46. ...
  • Micron Technology, Inc. (NASDAQ:MU) ...
  • QUALCOMM Incorporated (NASDAQ:QCOM) Number of Hedge Fund Holders: 71.
28 Oct 2022

How do I pick a good penny stock? ›

3 Important Factors to Consider when picking the right Penny Stocks for Investing
  1. Price Behavior.
  2. Changes in Business.
  3. Fundamentals of the Company.
  4. Market Capitalization.
  5. Net Sales/EBITDA.
  6. Shareholding Pattern:
  7. Cash from Operation.
  8. Company's Website.
13 Oct 2022

Can you get rich buying penny stocks? ›

Can penny stocks make you rich? Although penny stocks have some great attributes, they are not right for everyone. These stocks truly can turn a small amount of capital into a huge sum of money pretty fast, but can just as quickly wipe that investment out.

How do you find penny stocks that will rise? ›

Some important points to keep in mind before investing in penny stocks are:
  1. Pick stocks of companies from the OTC markets. ...
  2. Avoid the Pink Sheet Stocks. ...
  3. Avoid the pump and dump stocks. ...
  4. Keep away from low-liquidity penny stocks.
  5. Focus on trading and keep low on investing.
23 Dec 2021

What is the cheapest penny stock to buy? ›

Here are some penny stocks that will cost you less than a dollar and might just be worth the investment.
  • Ayala Pharmaceuticals. Price: $0.6349. ...
  • Aquestive Therapeutics. Price: $0.9130. ...
  • Compugen. Price: $0.7900. ...
  • Cybin. Price: $0.4778. ...
  • Freeline Therapeutics. Price: $0.72. ...
  • AVROBIO. Price: $0.6780. ...
  • OnoCyte. Price: $0.7785. ...
  • Sientra.
26 Oct 2022

What stock should a beginner buy in 2022? ›

Best Low Risk Stocks To Buy In 2022
  • Shell plc (NYSE:SHEL) Number of Hedge Fund Holders: 39. Beta Value: 0.72. ...
  • Costco Wholesale Corporation (NASDAQ:COST) Number of Hedge Fund Holders: 64. Beta Value: 0.72. ...
  • PepsiCo, Inc. (NASDAQ:PEP) ...
  • Walmart Inc. (NYSE:WMT) ...
  • AbbVie Inc. (NYSE:ABBV) ...
  • The Home Depot, Inc. (NYSE:HD)
24 Oct 2022

Which penny stock will grow in the future? ›

Top 5 Best Penny Stocks India to Buy in 2022

Orosil Smiths India - Best Penny Stock to Buy Now For Impressive Gains. Tine Agro - Top Penny Stock for Textile Sector. Arc Finance Ltd - Best Penny Stocks in 2022 for Finance. IL & FS Engineering and Construction - Best Penny Stock to Invest in 2022 for Construction.

What stocks will grow the most in 2022? ›

Best-performing growth stocks
Company Name & SymbolRevenue Growth (Last Qtr vs. Same Qtr Prior Yr)Price Performance (This Yr)
Clearfield Inc. (CLFD)83.94%43.89%
Palomar Holdings Inc. (PLMR)38.02%37.35%
UFP Technologies Inc. (UFPT)86.25%33.58%
e.l.f. Beauty Inc. (ELF)26.33%30.26%
21 more rows
1 Nov 2022

What's the biggest stock jump in one day? ›

Largest daily percentage gains
RankDateChange
Net
11933-03-15+8.26
21931-10-06+12.86
31929-10-30+28.40
17 more rows

Which penny stock will grow in 2023? ›

MinRex Resources, Global Lithium Resources, Anson Resources, and Ragusa Minerals could be four of the best ASX lithium penny stocks to watch in 2023.

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 much should you start with penny stocks? ›

If you're going to buy penny stocks, start small and move slowly. Make penny stocks just a fraction of your portfolio, ideally 10% or less of your individual stock holdings until you understand how they operate, what the pitfalls are, and how you can stay safe.

Where is the best place to find penny stocks? ›

Where do you find penny stocks?
  • Fidelity - $0 per trade.
  • TD Ameritrade - $6.95 per OTCBB trade.
  • Charles Schwab - $6.95 per OTCBB trade.
  • TradeStation - $0 per trade (up to 10,000 shares)
  • Interactive Brokers - $. 0035 per share.
27 Oct 2022

How long should you hold penny stocks? ›

Experts Might Hold The Stock For 6 Minutes Or Up To 6 Months: If you are a day trader, you may be buying and selling stocks at an average of every five or 10 minutes. But, investors who are looking for long-term plays and do not want to trade much off momentum, might hold penny stocks for as long as six months.

Was Amazon a penny stock? ›

Amazon (NASDAQ: AMZN)

At its IPO in 1997, it traded under $2 a share. It graduated from its penny stock designation in 1998. It last dipped below $100 in 2009.

How do people get rich quick in stocks? ›

How to Get Rich Off Stocks
  1. Develop an Investing Strategy. Your investment strategy is a set of rules or guidelines to help you decide when you should or shouldn't invest. ...
  2. Choose an Investing Style. ...
  3. Use Index Fund Investing. ...
  4. Buy and Sell Individual Stocks. ...
  5. Buy and Hold Quality Stocks and ETFs. ...
  6. Contribute Money Consistently.
14 Nov 2022

Is suzlon a good buy 2022? ›

As on 24th Nov 2022 SUZLON SHARE Price closed @ 7.90 and we RECOMMEND Sell for LONG-TERM with Stoploss of 8.93 & Sell for SHORT-TERM with Stoploss of 8.40 we also expect STOCK to react on Following IMPORTANT LEVELS.

How do you pick penny stocks for day trading? ›

When choosing penny stocks, select an enterprise that provides a high volume of shares. Day trading the top penny stocks allows an investor to purchase thousands of shares for a relatively low price. These shares can be bought and sold frequently during a relatively short period of time to maximize profits.

What are the best stocks under $1? ›

Nevertheless, if you must get that adrenaline going, below are the best penny stocks under $1.
...
The 7 Best Penny Stocks Under $1 to Buy Now.
VLDRVelodyne Lidar96 cents
PTOTFPatriot One Technologies27 cents
USWSWU.S. Well Services5.8 cents
AXASAbraxas Petroleum82 cents
LLKKFLake Resources59 cents
2 more rows
30 Sept 2022

Where can I find cheap penny stocks? ›

Look for the exchange

While some penny stocks may be found on the major exchanges such as the Nasdaq and NYSE, they often do not meet their listing requirements. Instead they can be found on over-the-counter bulletin boards and pink sheets which generally involved increased risk and exposure to price manipulation.

What stocks should I buy March 2022? ›

AMZN, ALGN, V, DPZ, & NVDA represent top growth stocks to buy now for March 2022.

What should I invest in in March 2022? ›

10 New Stocks to Buy Now for March 2022
  • eBay (NASDAQ:EBAY)
  • Digital Realty Trust (NYSE:DLR)
  • Upstart Holdings (NASDAQ:UPST)
  • Lincoln Electric Holdings (NASDAQ:LECO)
  • Visteon Corporation (NASDAQ: VC)
  • United States Steel Corp. (NYSE:X)
  • Intuit (NASDAQ:INTU)
  • Roku (NASDAQ:ROKU)
14 Mar 2022

Which stock will become multibagger in 2022? ›

A detailed table with various parameters for Best Multibagger Stocks to buy
Sr. NoCompany NameCMP (Sept 2022)
1Mishra Dhatu Nigam225.5
2MAS Financial766.25
3Ultramarine & Pigments370.05
4Deepak Nitrite2153.3
2 more rows
21 Sept 2022

What is the fastest growing stock today? ›

Day Gainers
SymbolName% Change
YMMFull Truck Alliance Co. Ltd.+13.19%
CFLTConfluent, Inc.+12.31%
CELHCelsius Holdings, Inc.+11.54%
MRTXMirati Therapeutics, Inc.+11.31%
21 more rows

What should I invest in next in 2022? ›

Going into 2022, among the key market sectors to watch are oil, gold, autos, services, and housing. Other key areas of concern include tapering, interest rates, inflation, payment for order flow (PFOF), and antitrust.

Can you get rich playing penny stocks? ›

If an investor is able to find a penny stock with good fundamentals and is able to buy the stock at extremely low valuations, he can make an enormous fortune. Investment in penny stocks is not very common due to high risks associated.

Can you make big 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. There are plenty of good reasons to invest in small companies.

Which share will increase in next 3 months? ›

Write Query
NameLTPChange(%)
Union Bank of India77.51.70 (2.2%)
Cochin Shipyard Ltd.654.97.20 (1.1%)
UCO Bank20.70.60 (3.0%)
Bank of India82.22.80 (3.5%)
21 more rows

Can stocks make you a millionaire overnight? ›

Can Trading Make You Rich Overnight? The short answer is no, and certainly not without taking enormous risks. If someone becomes a millionaire in the stock market overnight, and it is truly by luck, the risks are extensive, and they come in many forms.

How do you find penny stocks before they explode? ›

How to Pick a Potential Penny Stock Winner Pre-Spike
  1. Where to Look for Penny Stocks.
  2. Share Price and Valuation.
  3. Beware Dilution.
  4. Rule #1 — Look For Stocks That Are Already Spiking.
  5. Rule #2 — Look for Potential Breakouts That Are Reaching New Highs.
  6. Rule #3 — Bet on Price Action.
  7. Rule #4 — Do Your Research.
15 Oct 2021

How do beginners invest in penny stocks? ›

A great way for beginners to trade in the penny stock market is to first get comfortable trading in simulation accounts, otherwise known as paper trading. This method is the safest way to practice trading penny stocks without the risk of losing real money.

Is buying 1 share worth it? ›

While purchasing a single share isn't advisable, if an investor would like to purchase one share, they should try to place a limit order for a greater chance of capital gains that offset the brokerage fees.

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