The Truth About Penny Stocks Under $1: Finding Real Opportunities Amid the Hype

Let’s be honest – penny stocks priced at less than a buck hold an irresistible appeal. Even a small investment could potentially lead to insane returns. It’s no wonder why speculative traders love taking a gamble on these ultra-low priced shares. But realistically, profiting consistently from penny stocks under one dollar requires serious research and reasonable expectations.

Don’t get me wrong – I totally understand the excitement over penny stocks. While the SEC defines any stock under $5 as a “penny stock”, it’s the sub-dollar ones that get people worked up. It makes sense when you consider even tiny moves in share price can mean excessive 100%+ gains. Then again, you can lose it all just as quickly.

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Are these the best cheap penny stocks to buy now? For seasoned traders with nerves of steel, cheap stocks might offer a chance at significant returns. But for novice investors looking to get rich overnight, it often ends in tears and disappointment rather than immediate profits.

The key is tuning out all the hype and analyzing the cold, hard fundamentals. By digging into financial statements, leadership, market conditions, and potential catalysts, you can better judge if a penny stock is worth the risk. Gut reactions and pipe dreams won’t cut it in this world. You need realistic expectations if you want to find real opportunities.

Sometimes the odds can be stacked against making a killing on penny stocks under a buck. For most people, it’s not worth the stress and high risk. But with the right research and mindset, it is possible to uncover some hidden gems other traders have overlooked. Just don’t bet the house on it. Approach penny stocks with eyes wide open, and it never hurts to consult a financial professional if you have questions.

In this article, we look at a handful of penny stocks that continue our list from the last update, Best Penny Stocks To Buy Now? 7 Under $1 To Watch.

Penny Stocks Under $1 To Watch

Better Home & Financing Holding (BETR)

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Earlier this quarter, Better Home & Finance closed a business combination with Aurora Acquisition Corp. via a SPAC merger. As with many SPAC stocks, BETR faced the typical sell-off immediately following the tie-up. However, over the last three days, shares of Better Home & Finance stock have actually begun trading higher. This move comes after 11 days of selling pressure taking prices below $1.

The Softbank-backed company provides residential mortgage, insurance, and real estate services in the US and UK. Better launched a unique “One-Day Mortgage) this year allowing certain customers the ability to get an underwriting determination on a loan application within 24 hours. It did $98 billion in mortgage volume from 2019-2022 according to the company, and more than $4 billion in real estate transaction volume.

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Better reported its first half of 2023 results at the end of August. It posted sales of $51.1 million. The business combination also unlocked $565 million in capital. Kevin Ryan, Better’s President and CFO, said, “We are pleased that our continued expense discipline in a challenging mortgage environment has allowed us to dramatically reduce both our GAAP loss and our Adjusted EBITDA loss in the second quarter. We believe the proceeds from closing the business combination alleviate the previously disclosed going concern uncertainty. Pro forma for the business combination, our June 30, 2023 cash and cash equivalents would have been $632.4 million.”

With a surge in momentum this week, BETR stock could be one of the names to watch.

Nemaura Medical Inc. (NMRD)

Another one of the penny stocks under $1 recovering after a long stint of selling is Nemaura Medical. The medical technology company develops non-invasive wearable diagnostic devices to support personalized lifestyle coaching programs.

Earlier this month, Nemaura reported the completion of a 100-patient study for its SugarBEAT 24-Hour Wear and Report. The company said that it intends to publish the findings of the study in forthcoming conferences. There are also plans to use the data to supplement product registration applications for an increased sensor wear period of up to 24 hours for a second-generation sensor.

This week Nemaura announced interim results from its collaboration with the UK’s National Health Service on its Metabolic Health & Weightloss Program. Known as Miboko (Mind, Body, Konnect), the program is said to be the first to integrate a daily-wear and non-invasive glucose sensor with Nemaura’s tech platform. Looking ahead, the company is participating in the HLTH 2023 conference in October.

Aurora Cannabis Inc. (ACB)

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Aurora has been making its own news in recent weeks. Some of the latest were regarding its sale of the Aurora Sun Facility being completed via Bevo Farms’ acquisition. Bevo is one of North America’s largest suppliers of propagated vegetables and ornamental plants.

In an update, Aurora’s CEO, Miguel Martin, also mentioned, “Bevo has successfully repurposed the Aurora Sky facility in Edmonton, and we’re excited to further support their continued growth. Bevo’s acquisition of the Aurora Sun facility further demonstrates the close synergies between our companies and the value that our partnership creates for shareholders.”

The company also reported Q1 fiscal 2024 results. Aurora beat sales estimates by a wide margin, $55.91M versus $46.80M. Aurora also pointed out that there was meaningful Adjusted EBITDA growth realized. Miguel Martin noted the strong performance and explained, “We are pleased to have generated strong net revenue and record adjusted EBITDA during Q1, which positions us well for what we believe will be a successful fiscal year 2024.”

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Furthermore, Aurora recently reported that it has bought back an aggregate of roughly $12.3 million (US$9.0 million ) principal amount of its senior notes. After completing these buybacks, Aurora said it will have approximately $53 million (US$39 million) of Notes outstanding.

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