penny stocks to buy under 2 dollars

Are These The Best Penny Stocks To Buy Under $2?

There’s no denying the popularity of penny stocks. But a big reason behind the popularity has to do with the speed you can make money with these cheap stocks. While there’s no crystal ball that guarantees returns, there are things you can do as a trader to protect your investments. The first thing to do is research and practice your strategy. Some of the top traders out there will tell you that it’s better to start paper trading first before you test an idea with real money.

Though paper trading doesn’t allow you to score big bucks when your strategy works, you also don’t lose your cash if it doesn’t. Once you’ve perfected your approach, it’s time to start putting it all together. Be aware of current market conditions.

During times where the broader markets a less volatile (like they are lately), more volume may come into small-cap stocks. This could make conditions even more volatile than penny stocks can typically be.

How Do You Buy Penny Stocks?

For that reason, you may want to adjust your strategy accordingly. No matter your style, it’s never a bad idea to put a list of penny stocks together after you’ve done your initial research. Since penny stocks can move so quickly, you’ll also want to put together a sound approach to managing your risk accordingly. Smaller cap stocks and lower float penny stocks can move quickly so understanding this can put you ahead of the curve.

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Be aware that the lower the price of a penny stock, the quicker it can produce (or reduce) gain percentages. Based on the general definition of penny stocks, you’re essentially looking at any stock trading below $5. There are also certain penny stocks that might even trade at levels lower than $2. Here is a look at three of them.

Penny Stocks To Buy For Under $2 #1:
CTI Industries (CTIB)

penny stocks to buy under 2 CTI BioPharma (CTIC)

First, on this list of penny stocks to buy for under $2, CTI Industries (CTIB Stock Report) came out of nowhere on Wednesday. There was no news in the morning and shares of CTIB didn’t really break out until after lunch on December 11.

The only thing that was found recently was an 8K filing. It stated that the company’s President, CEO, and Director, Jeffrey Hyland retired. The filings show it was for personal reasons and nothing corporate-related.

At the same time, Frank Cesario is now acting CEO and current CFO of the company. Besides that, the company reported the sale of its Flexo International subsidiary. According to the company, it plans to use net proceeds to further reduce its debt load. This has been a focus of CTI for quite some time.

“Along with the divestiture of Flexo, the Company plans on implementing a multi-million expense reduction plan including closing its Lake Zurich, Illinois facility and moving this operation to a lower-cost facility.”

Company Press Release, December 11, 2019

If you missed today’s action, CTIB rallied from around $0.58 to highs of $1.75 just after the market close. This is why low float penny stocks can get so exciting. If you saw the move that Camber Energy (CEI Stock Report) made today, you’re familiar with low floats and how they can result in big moves, quickly.

In the case of CTI Industries, its current Outstanding Share count shows less than 5 million. Its float information on sites like Finviz shows less than 2 million shares. This would be considered a low float penny stock.

Penny Stocks To Buy For Under $2 #2:
QuickLogic Corporation (QUIK)

penny stocks to buy under 2 QuickLogic Corporation (QUIK)

The other penny stock that can be bought right now below $2 is the QuickLogic Corporation (QUIK Stock Report). The company’s subsidiary, SensiML Corporation, announced that it has entered into the STMicroelectronics Partner Program. This helps developers with its Analytics Toolkit.

The toolkit will give developers a definite competitive advantage when it comes to building IoT (Internet of Things) products. The company is also going to offer an AI (artificial intelligence) powered workflow. The entry into the partnership is a significant development. Further to this, QuickLogic also announced that it supports ANtmicro’s open-source simulation framework called Renode.

[Read More] What Drives Penny Stocks Higher or Lower?

“Our overarching strategy with this relationship is to significantly broaden the served available market for our EOS S3 SoC by enabling hardware development with a more software-centric approach. This initial release of Renode support for EOS S3 is the first of several planned open-source deliverables resulting from a joint development effort between Antmicro and QuickLogic.”

Brian Faith , President & CEO of QuickLogic

This allows QuickLogic to expand on the potential user base for its EOS S3 SoC Processing platform. This helped QUIK stock climb even higher this week. Since the start of December, the tech penny stock has managed to rally more than 75% so far.

Penny Stocks To Buy For Under $2 #3:
CTI BioPharma (CTIC)

penny stocks to buy under 2 CTI BioPharma (CTIC)

Don’t get it confused but another top penny stock on this list is CTI BioPharma Corp (QUIK Stock Report). Unlike CTI Industries, CTI Biopharma focuses on “bio” technology. The main target of the company is the commercialization of therapies for blood-related cancers. CTI made an important announcement on Tuesday that resulted in CTIC stock rallying by as much as 12%.

The company revealed that the data from the Phase 2 clinical trial of its product PAC203 was presented at a key industry event. The event in question was the 61st American Society of Hematology (ASH) Annual Meeting that was held from the 7th to 10th of this month. And if you’re an avid reader of PennyStocks.com, you likely caught a glimpse of the level of importance that this conference held based on this article.

Aside from this update, CTIC stock has benefited from other milestones as well. Specifically, in its latest quarterly earnings, the company reported a better than expected EPS. Though it was still a loss, it was up from -$0.26 to now -&0.17. “We advanced our pacritinib development program in the third quarter, and recently took an important step forward for the company by initiating and enrolling the first patient in the PACIFICA trial, our pivotal Phase 3 trial of pacritinib in myelofibrosis patients with severe thrombocytopenia,” said Adam R. Craig, M.D., Ph.D., President and Chief Executive Officer of CTI BioPharma.


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