Are you looking for the best penny stocks to buy? You’re not alone; many traders are showing a renewed interest in this exciting market. The current fluctuations in the stock market have sparked a fresh wave of risk-taking. This has led to a growing curiosity about affordable stocks, especially those priced under a dollar. The allure of these true “penny” stocks is clear. Even minor price shifts can result in significant percentage increases in an investor’s holdings.
Discovering the World of Penny Stocks Below $1
The term ‘penny stocks‘ has traditionally referred to shares priced under $5. However, a rising number of investors are now attracted to the more budget-friendly options. This specifically includes stocks trading for less than a dollar. These genuine ‘penny stocks’ are available for just a fraction of a dollar, representing a real bargain for those eager to take on risk.
The danger linked to these stocks is unquestionably high, but so is the appeal. They offer an attractive opportunity for those stimulated by market unpredictability and the chance for substantial returns. To put it in perspective, a well-known company like Apple might experience a $5 increase per share, but this is nothing compared to the potential exponential gains with penny stocks priced under $1.
The Delicate Equilibrium: Steering Through Cheap Penny Stocks Below $1
Investing in these stocks resembles an exciting yet hazardous balancing act of risk and reward. A tiny price shift can catapult an investor’s returns into double or even quadruple digits. However, this volatility is a two-sided coin, as these stocks can plummet as quickly as they ascend, potentially leading to financial ruin.
In this overview, we will explore the most actively traded penny stocks priced under $1, highlighting the key factors that mold the modern, vibrant stock market. We’ll examine the elements affecting their price fluctuations and identify possible market triggers that could be on the watchlist for penny stock traders.
In a landscape where every cent truly matters, this distinct market segment provides a thrilling, albeit risky, route to potential wealth. If you possess a flair for adventure and are open to taking risks, the realm of penny stocks to watch under $1 might be an investment territory worth venturing into.
Penny Stocks To Watch
- Pieris Pharmaceuticals (NASDAQ: PIRS)
- Genius Group Ltd. (NYSEAMERICAN: GNS)
- eFFECTOR Therapeutics (NASDAQ: EFTR)
Pieris Pharmaceuticals (PIRS)
Shares of Pieris Pharmaceuticals have been steadily climbing higher after bottoming out in June. The biotech stock hit new 52-week lows of $0.1616 a few days after reporting news that AstraZeneca discontinued a phase 2a trial of PRS-060/AZD1402 based on non-clinical safety findings. These findings came from a 13-week toxicology study. Pieris said the findings included “inflammation-mediated lung tissue damage” that didn’t appear to be dose-related.
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Fast-forward a few weeks to August, and Pieris reported a milestone achievement. This was for Boston Pharmaceuticals’ initiation of a Phase 1/2 study of BOS-342, formerly PRS-342. The immuno-oncology antibody-Anticalin fusion protein was discovered by Pieris and licensed to Boston Pharmaceuticals. This event also led to a milestone payment of an undisclosed amount.
“Dosing of the first patient with BOS-342 represents an important milestone for the BOS-342 program and, more importantly, for patients with HCC, many of whom often do not achieve durable benefit from current available treatment regimens,” said Sophie Kornowski, CEO of Boston Pharmaceuticals. PIRS stock has climbed back nearly 100% since hitting June lows.
Genius Group Ltd. (GNS)
Shares of Genius Group have become more active in the stock market over the last few weeks. That has also come with some of the highest daily volumes in recent months. The education technology company recently announced approval of its planned spinoff of Entrepreneur Resorts Limited (ERL), by the Singapore court.
The company also set the share distribution date of ERL “on or about” September 29, 2023. Shareholders will receive restricted shares in ERL, which could become eligible for removal of restrictions and traded on Upstream six months after the share distribution date if certain requirements are met.
A little bit more background on the situation was found in a recent filing as well. ERL is currently listed as a public company on the main board of MERJ Exchange in the Seychelles. “Genius Group has now commenced the process to transfer ERL to the Upstream, a new non-US MERJ Exchange market. This process is anticipated to be completed within 30-45 days.”
Against this backdrop, GNS stock continues surging higher. The penny stock hit an early high of $1.20 on Wednesday as trading volumes remained high.
eFFECTOR Therapeutics (EFTR)
We discussed eFFECTOR in an article earlier this year titled Stock Market Today: New Penny Stocks Trends & 3 To Watch This Week. One of the main highlights and why EFTR stock was on traders’ radars originated from a financing round that was closed. The cancer treatment company has been in the spotlight since the end of April after presenting positive data updates from Phase 2 expansion cohorts.
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These evaluated its zotatifin in breast cancer patients. The findings showed that 5 of 19 patients treated demonstrated a partial response when combined with fulvestrant and abemaciclib. A partial response was also observed in 1 of 3 patients treated with zotatifin combined with fulvestrant.
These have helped build attention on EFTR stock. However, earnings have become the latest catalyst in August. The company posted an EPS beat and discussed plans moving forward, including current clinical updates.
“The randomized Phase 2b KICKSTART clinical trial of tomivosertib combined with pembrolizumab for the treatment of non-small cell lung cancer (NSCLC) continues to progress, with an anticipated data readout in the second half of 2023,” said CEO Steve Worland, Ph.D. “In addition, we are thrilled to welcome Dr. Gary Chiang back to eFFECTOR as the Vice President of Translational Science, as we continue to build up internal expertise to support both tomivosertib and zotatifin development programs. Lastly, we bolstered our balance sheet by raising over $16.0 million during the quarter, which now extends our cash runway into the second quarter of 2024.”
This week HC Wainwright analysts started coverage on EFTR stock. They have a Buy rating and $5 target.
