Are you trying to play the penny stock game? Maybe you want to try your hand at higher-risk penny stocks. Many well-known companies have faced considerable selling pressure thanks to the stock market crash this year. That pressure has often taken plenty of “established” names into penny stock territory. That means breaching or testing the $5 price level.

Needless to say, this “stock market game” is being played by thousands of new and experienced traders daily. On, we provide plenty of educational material for free to help those looking to get started trading. For those looking for something more experiential, there are also chatrooms led by professional traders with hedgefund experience that you can try out. However you want to play the “game” is up to you. If education isn’t your “thing,” then make sure you’re at least doing a bit of research to make informed decisions.

Today we look at a few more penny stocks to buy for under $5. We’ll dive into what’s driving momentum, any potential future catalysts, and additional info to give you more insight into what traders are looking at.

Penny Stocks To Buy For Under $5

NLS Pharmaceuticals (NASDAQ: NLSP)

penny stocks to buy under 5 NLS Pharmaceuticals NLSP stock chart

Not all penny stocks trade for “pennies” on the dollar. The ones that do tend to have listings on lesser exchanges like the OTC (Over-The-Counter). However, that doesn’t mean there aren’t NASDAQ or NYSE, aka “Robinhood penny stocks,” switching hands daily. NLS Pharmaceuticals is one of these companies, and at roughly $0.70, it is one of the cheapest names on this list.

NLS was on the radar in August after the company announced the Japanese Patent Office granted a patent for its mazindol extended-release medication. Commercially known as Quilience, the product candidate is indicated in ADHD, narcolepsy, and idiopathic hypersomnia. The company would soon report topline results from a Phase 2a study of Quilience for excessive daytime sleepiness and cataplexy in narcolepsy patients.

George Apostol, M.D. MS, Chief Medical Officer and Global Head of R&D at NLS, explained that there are plans to “present the final results from this Phase 2a clinical trial at a future scientific meeting.” He also said the company looks forward to “meeting with the U.S. Food and Drug Administration later this year to discuss the design of a pivotal clinical program for Quilience®.”

This week, patent news is helping NLSP stock trade higher. The FDA website showed that NLS’s Quilience for idiopathic hypersomnia was granted an FDA Orphan Drug Designation. No formal press release was posted at the time the FDA event happened but doing research beyond your typical PRs is what we like to do.

[Read More] 4 Penny Stocks To Buy According To Analysts Right Now

Sonder Holdings Inc. (NASDAQ: SOND)

penny stocks to buy under 5 Sonder Holdings SOND stock chart

If you’ve read articles on, you might recall Sonder Holdings mentions during the summer. The company specializes in hospitality technology and designs bespoke experiences for guests. Attractive earnings results and optimistic analyst sentiment prop up SOND stock. Following a spat of sideways trading action in September and October, shares of the penny stock have once again begun climbing.

The last few weeks have seen the company build out its leadership team and board. Last week, it announced Sean Aggarwal joined Sonder’s BoD and comes with significant experience from notable tech, travel, and hospitality companies, including Lyft, Trulia, PayPal, eBay, and Amazon, to name a few.

Sonder’s upcoming earnings release might have the market paying closer attention right now. Its next round of financial results come out on November 9th as investors look to see how the company meets expectations set last quarter.

On the company’s last earnings call, CFO Sanjay Banker said, “We continue to expect to grow full-year revenue by between 100% to 110% as compared to the full year 2021. We expect free cash flow in Q3 of approximately negative $45 million before a one-time restructuring cost. For the second half of the year, Q3 and Q4 combined, we are reaffirming free cash flow of better than negative $70 million before one-time restructuring costs.”

Globalstar Inc. (NYSEAMERICAN: GSAT)

penny stocks to buy under 5 Globalstar GSAT stock chart

Sattelite and communications company Globalstar has been in the spotlight for the last few weeks. That was thanks to speculative trading regarding Apple’s new phone. In particular, the phone’s new SOS satellite connectivity feature runs on Qualcomm chips. Globalstar came into the picture because the Qualcomm chip offers 5G connectivity and is capable of using the frequency band used by Globalstar satellites, n53.

[Read More] Penny Stocks & Frequently Asked Questions From New Traders

There are a few things to look for regarding GSAT stock. Other than speculation, Globalstar earnings come out later this week. On November 3, the company reports Q3 results after the close. Later in November, it also hosts Globalstar Investor Day. So if you’re looking at this company right now, note November 16th for that event.

Analysts have become more bullish about Globalstar recently. Craig-Hallum started the company with a Buy this week. It also issued a target GSAT stock forecast price of $5.

How To Find Penny Stocks To Buy

In this article, we discussed a few penny stocks with some unusual market activity in the stock market today. While the ultimate decision is up to you, data can give some insight into the market potential of certain penny stocks. But there’s no substitute for education. Learning how to trade is more valuable than simply finding the next stock pick from a random social media account.

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