stocks under 2 dollars to buy now

4 Penny Stocks Trading Higher This Week

If you’ve begun putting together a list of penny stocks this week, price levels might be a focus of yours. Are you looking for stocks under 10 cents or are you looking for higher-price penny socks? You’ve got a wide range to play with. Based on the definition of penny stocks, you’re looking for anything trading below $5. Another common misconception is the exchanges that these stocks trade on. Penny stocks aren’t just “OTC stocks”. You can have both NASDAQ and NYSE penny stocks too. Again, we’re just talking about price right now.

A good rule of thumb is that the lower the price, the higher the volatility. While this isn’t true for all penny stocks, you’ll find this as the case more times than not. That’s just due to the fact that a cheaper stock takes less price movement to see large percentage changes. An easy example here is stocks under 10 cents versus something like a $4 penny stock.

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If that 10 cent stock moves 1 penny, it’s a 10% move in the value of the position. If that $4 stock moves 1 penny, it’s nearly unnoticeable. This is where you need to weigh out your risk and reward. Obviously, stocks under 10 cents can bring quick and large returns. However, they can also experience massive losses just as quickly.

Today we’re taking a look at some penny stocks that can be bought for less than $2. Just because they’re “cheap,” does it mean they’re worth the risk?

Penny Stocks To Buy For Under $2: Artelo Biosciences Inc.

Artelo Biosciences Inc. (ARTL Stock Report) focuses on treatments that control the endocannabinoid system. The company is working on proprietary approaches to cannabinoid-based therapies. Artelo’s lead program is designed to be a patent-protected cannabinoid drug combination treatment for a rare and orphan disease.

While there hasn’t been much news from the company this month, there was a development at the end of September to note. The company announced that it received Ethics Committee approval in the U.K. for its Cancer Appetite Recovery Study (CAReS). The company’s ART27.13 is considered a peripherally restricted synthetic, dual cannabinoid agonist. It has the potential to increase appetite and food intake according to Artelo. The initial goal is developing ART27.13 as a therapy for cancer patients suffering from anorexia and weight loss.

On Monday, ARTL stock rallied more than 50% with some of its highest share volumes in the last few weeks. Something to keep in mind is ARTL has a history of single-day breakouts followed by a breakdown. It saw a similar move late last week. The penny stock rallied to highs of $1.50 and almost immediately shot back down. It also appears that the 200-day moving average has acted as a level of resistance on the chart. Will ARTL manage to break through this level or is another flush coming?

penny stocks to buy under 2 dollars Artelo Biosciences Inc. (ARTL stock chart)

Penny Stocks To Buy For Under $2: Heat Biologics Inc.

Heat Biologics Inc. (HTBX Stock Report) has been in a sideways trend for the better part of the last few weeks. However, on Monday, HTBX stock began pulling a bit higher. There weren’t any updates nor filings made recently to suggest the momentum. However, the clear focus for the market had been on coronavirus. More specifically, the U.S. President’s symptoms and treatments.

[Learn More] Looking To Invest In Penny Stocks? 5 Things You Should Know, First

If you remember last month the company announced that it would participate in a virutal panel. It was titled “New Approaches to COVID-19: Hidden Breakthroughs.” Heat’s CEO, Jeff Wolf joined other industry executives from companies like AIM ImmunoTech, Avalon GlobloCare Corp., ImmunoPrecise Antibodies Ltd., and Orgenesis Inc. The company also won a U.S. patent covering compositions of matter that are part of its gp96 platform in combination with a T cell costimulatory agonist in a single therapy. The gp96 treatment is what the company’s COVID-19 vaccine candidate is based on.

In late-August, the company reported that preclinical vaccine results significantly increased the frequency of systemic and tissue-specific CD8+ T-cells by “conferring cellular immunity that is essential against any viral infection, including SARS-CoV-2.”

Considering the trend from earlier this year, HTBX stock isn’t a stranger to big moves. July clearly demonstrated this when shares rallied from under $1 to highs of $4.30.

penny stocks to buy under 2 dollars Heat Biologics Inc. (HTBX stock chart)

Penny Stocks To Buy For Under $2: Northern Dynasty Minerals Ltd.

Northern Dynasty Minerals Ltd. (NAK Stock Report) is another penny stock that isn’t a stranger to big moves. Earlier this year we saw NAK stock move from under 40 cents to highs of $2.42. The more recent sell-off was triggered by a lot of confusion over the company’s status, namely the status of its Pebble Property in Alaska. Further to that, we’ve seen accusations of unethical business practices by the now, former CEO. He has since resigned from that position. Former Pebble Partnership CEO, John Shively is the interim CEO right now.

Once the dust settled from that recent catastrophe for company leadership, traders are re-focusing on the Pebble Property. There are a few things to take into consideration. First, attention on rare earth mining companies has picked up recently. That’s based on an executive order from the White House to address the threat to domestic supply chain of “critical minerals” from foreign adversaries.

Furthermore, Northern Dynasty issued a technical report for the Pebble Project last week. This included a a revised mineral resource estimate announced in August that establishes Pebble as the single most significant source of Rhenium in the world. Rhenium is considered a “strategic metal” by the US government organizations due to its main use as an alloying metal in jet engine turbine blades, combustion chambers and exhaust nozzles. Jet engine and related military applications account for ~80% of annual US Rhenium consumption.

On Monday, NAK stock continued extending its gains from its October 2nd session.

penny stocks to buy under 2 dollars Northern Dynasty Minerals Ltd. (NAK stock chart)

Penny Stocks To Buy For Under $2: Allena Pharmaceuticals

Allena Pharmaceuticals (ALNA Stock Report) is another one of the names testing new highs of October this week. Shares of ALNA stock have had a tough time breaking above its 200-day moving average during the last few sessions. The first time it tested the level was last Wednesday following an update.

Allena announced that it secured $25 million convertible debt financing. The deal gives the company access to a first tranche of $10 million with an option to draw further over time. The firm that it did the financing with, Pontifax Medison Finance, has a conversion price of $4.10 per share according to that September 30 press release.

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Jump ahead to this week and Allena is back in the news after a new board appointment. Ann Miller, M.D. joins the company’s Board of Directors and comes with a long list of achievements. She was most recently at Sanofi serving as Vice President, Marketing. This news has compounded last week’s momentum for the time being. Shares of ALNA stock further extended gains from Friday’s session reaching highs of $1.74 during the Monday morning session.

penny stocks to buy under 2 dollars Allena Pharmaceuticals (ALNA stock chart)

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