best penny stocks to buy under 2 dollars

Are These Penny Stocks To Buy Or Avoid Right Now?

Do you know the definition of penny stocks? Honestly, think about it. When was the last time you looked something like that up? Well, if you’re new to trading, the standard definition of penny stocks are equities trading below $5. That’s according to the Securities and Exchange Commission itself.

These high risk/high reward stocks can see huge windfalls within a matter of days or even hours. Unlike most blue-chips, the frequency of seeing 50% movers or better on a daily basis is much greater when looking at penny stocks.

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Now, I know what you’ll probably bring up. Nikola Corp. (NKLA Stock Report) has jumped significantly in a few days and “it’s a $90 stock”. Honestly, there will be your anomalies but for the most part, we’ll see quite a few more penny stocks that stocks over $5 making big swings.

Given the current state of the stock market, it seems emotions are running high. When you take a 30,000-foot view, you’ll probably see some things that might not make a whole lot of sense. For instance, Hertz (HTZ Stock Report), a company that just declared bankruptcy, saw shares rally over 1,000% recently. Luckin Coffee (LK Stock Report), an outright self-admitted fraud saw its stock jump several hundred percentage points. If you’re asking “why”, other day traders are simply saying “why not”.

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At the end of the day, these companies may or may not find a resolution, but in the short term, they’ve become cheap stocks that are attractive to day-traders looking for penny stocks to buy. So make sure you understand this type of ideology entirely. Know that these day traders are trading penny stocks to make a quick profit. Just as quickly as penny stocks rise, they can fall as well.

We saw this with stocks like Genius Brands (GNUS Stock Report). It had an epic run to more than $11 and now sits below $4.50 once again. Case in point, the goal is to make money with penny stocks and not to buy some “pretty” wallpaper. With this in mind, here’s a list of penny stocks that can be bought for under $2.00 right now. Will they be on your list this month?

Penny Stocks To Buy [or avoid]: AgEagle Aerial Systems

Does AgEagle Aerial Systems (UAVS Stock Report) seem familiar? If it does, it’s probably because you’ve been reading articles this year. While it was briefly discussed last year, we picked back up on momentum with UAVS stock in mid-April and haven’t stopped since. At the time, shares traded around $1 and the company expanded the scope for its contracted commercial drone work. It received a follow-on purchase order from a “major eCommerce company” for commercial drone small package delivery vehicles.

UAVS stock managed to climb to highs of $5.15 before dropping back to around $1.15. This had a lot to do with a discounted share offering that was announced. It’s an example of why it’s important to make sure you don’t forget your strategy. While earnings and trials all have somewhat of an expected release date, capital raises don’t. A company might file something overnight showing such an event. That’s something traders saw from UAVS stock earlier this year.

[Read More] Are Penny Stocks Your Best Bet Right Now? 3 To Watch This Week

Fast-forward to June, however, and trading momentum has started to creep up. On June 9, that surge triggered a rally back above $1.70 during the late afternoon session. While there wasn’t much news, Traders were circulating information related to a recently filed patent on the USPTO site. It would appear that the patent has to do with drone delivery services.

UAVS patent app
http://tsdr.uspto .gov/#caseNumber=88946058&caseType=SERIAL_NO&searchType=statusSearch

Keep in mind that in its earnings update Nicole Fernandez-McGovern, Interim CEO and CFO, said, “Early last year, AgEagle began executing a long-term growth strategy to leverage our proprietary technology platform and commercial drone expertise to penetrate new high-growth industries…including the emerging hemp cultivation and drone-enabled package delivery markets…Looking ahead, we believe that our Company is well-positioned to accelerate growth in both of these markets as the year unfolds.”

Could this be the first step or is UAVS just benefiting from speculative sentiment right now?

penny stocks to buy under $2 AgEagle Aerial Systems (UAVS Stock Chart)

Penny Stocks To Buy [or avoid]: MicroVision

Shares of MicroVision Inc. (MVIS Stock Report) are up again on Tuesday. This comes just a few days after it announced it has elected Dr. Mark B. Spitzer to its board of directors. “Mark has an extensive background in leading technology innovation and development from startups to large Fortune 100 companies and we are fortunate to have him join our board,” said Brian Turner, Chairman and Lead Independent Director at MicroVision.

Considering the recent trend that similar companies are seeing right now, MVIS stock could be benefiting from a resurgence in sector interest. If you remember from our article last week, MicroVision we discussed analysts’ ratings on the stock. What do analysts think about MVIS? Of the ones tracked, the majority rate it “Hold” as of this week. But without any new updates or filings to suggest new catalysts, it’s tough to pinpoint what’s moving MVIS stock aside from speculation.

Regardless, it is one of the penny stocks with a big following. Knowing that, it’s also important to understand that it wouldn’t appear any company-specific catalysts are in the mix right now. Note that it previously retained Craig-Hallum Capital Group LLC to serve as its financial advisor. MicroVision is exploring “various licensing and other strategic alternatives”. The company said this includes a potential sale or merger of the company. Does this have anything to do with the latest move? 

penny stocks to buy under $2 MicroVision Inc.(MVIS Stock Chart)

Penny Stocks To Buy [or avoid]: ToughBuilt Industries Inc.

Consumer discretionary stocks have gotten some attention recently. Thanks to stronger jobs numbers last week, investor sentiment is leaning bullish. Considering the NASDAQ just reached new highs and the S&P is relatively flat on the year, you might say that the markets are hopeful of a quick recovery. Needless to say, this has also echoed in the wings of the world of penny stocks too.

[Read More] Is Nikola Corp (NKLA) An Overpriced Penny Stock Or The Real Deal?

ToughBuilt Industries (TBLT Stock Report) was one of the high volume penny stocks earlier this year. After shaking off the market sell-off and fighting through a few rounds of fundraising traders seem to have returned to TBLT stock this month. Shares have climbed from $0.88 at the start of June to highs of over $1 on the 9th.

Does this signal a turnaround for TBLT? Good question and one that’s been asked before. ToughBuilt has been one of the more volatile penny stocks to watch. Throughout 2020, the stock has jumped big, fallen hard, and traded sideways. There’s been no real clear long-term trend for TBLT stock.

However, day traders flock to it for its intermittent swings. There haven’t been any new company updates t speak of so far besides the closing of a $19 million offering done at $1. There haven’t been any new statement filed either. Considering the move for the sector itself, could this be a simple jump based on a broader industry trend? Either way, considering the volume surge TBLT could be on a list of penny stocks to watch this week.

penny stocks to buy under $2 ToughBuilt Industries (TBLT Stock Chart)

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