Best Stocks Under $2 at a Glance
The table below lists the best stock picks under $2, listed on public exchanges.
Code | Price* | Market Cap | Avg. Trading Volume** | ||
|---|---|---|---|---|---|
Electrameccanica Vehicles Corp | NASDAQ: SOLO | $0.80 | $118.531m | 1,016,803 | |
Globalstar | NYSEAMERICAN: GSAT | $1.40 | $2.377b | 5,552,503 | |
Globus Maritime Limited | NASDAQ: GLBS | $0.90 | $24.905m | 133,671 | |
Xeris Biopharma Holdings, Inc. | NASDAQ: XERS | $1.18 | $160.462m | 832,569 | |
Vacasa | NASDAQ: VCSA | $0.59 | $755.43m | 2,131,209 | |
Cidara Therapeutics, Inc. | NASDAQ: CDTX | $0.84 | $91.671m | 986,437 | |
22nd Century Group | NASDAQ: XXII | $1.70 | $245.444m | 1,334,664 | |
WM Technology | NASDAQ: MAPS | $1.28 | $219.175m | 1,120,662 | |
Spire Global | NYSE: SPIR | $0.57 | $161.014m | 401,990 | |
Myomo | NYSEAMERICAN: MYO | $0.79 | $3.433m | 1,122,085 |
*Closing price on November 2024.
**3-months average.
Top Platform to Trade Stocks Under $2
| Name | Score | Visit | Stocks | Assets | Social Trading | Minimum Deposit | Disclaimer | |
|---|---|---|---|---|---|---|---|---|
 | 9.8 | Visitplus500 | 2500+ | CFDs, Commodities, Stocks, Options, Derivatives, Cryptocurrencies, Forex | No | $100 | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Availability subject to regulations. FCA (FRN 509909). | |
 | 8.7 | Visitetoro.com | 3000+ | CFDs, Commodities, Stocks, Cryptocurrencies, Forex, Options | Yes | $50 | Don’t invest unless you’re prepared to lose all the money you invest. Your capital is at risk. 76% of retail CFD accounts lose money. | |
 | 9.1 | Visitinteractivebrokers.com | 11000+ | Cryptocurrencies, Stocks, Options, Derivatives, Forex, Penny Stocks | No | |||
 | 8.3 | Visitwebull.com | 500+ | Cryptocurrencies, Penny Stocks, Options, Stocks | No | |||
 | 5IG | 8.9 | Visitig.com | 15000+ | Stocks, CFDs, Forex, Commodities, Options, Derivatives | No | Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. |
Unlock Potential: Top Penny Stocks Under $2 for 2024
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The Leading Stocks Under $2 Listed on Public Exchanges
1. Electrameccanica Vehicles Corp
Canada-based ElectraMeccanica Vehicles is an electric vehicle manufacturer operating in two segments, Electric Vehicles, and Custom Build Vehicles. Its flagship product SOLO is a one-seater, all-electric commuter that costs $18,000 – delivering a rather more accessible product compared to its competitors.
The company’s 52-week stock range was $2.44 and $0.57 and is forecasted to reach $4.28 over the next 12 months. According to the estimates, the company is currently being traded at 49.2% below its fair value and its revenue is expected to grow by 85% per year. It's also important to note that, hydrogen stocksare currently trading under $2, making them an attractive investment opportunity for those looking to capitalize on the growing demand for renewable energy sources.
2. Globalstar
Globalstar is a US-based mobile satellite communications company with operations spread out globally operating. This organization is servicing a lot of industries including but not limited to transportation, energy, commercial maritime, agriculture, safety, and forestry.
The company has recently received a substantial investment from Apple to develop emergency SOS via satellite services for iPhone 14 holders.
The 52-week stock valuation for the company share was between $2.98 and $0.91 and is forecasted to reach $3.57 over the next 12 months – which signals an increase of over 169% from its latest price.
3. Globus Maritime Limited
A global marine transportation company, Globus Maritime provides dry bulk shipping services worldwide. The outfit owns and manages a fleet of vessels for iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargo transportation.
Despite its plummeting stock value, the company’s P/E ratio of 0.6, which is way below the US market average of 14.9. The stock’s 52-week range was between $2.66 and $1.03, with a 12-month forecast of $3.57 – an increase of 210.44% from its current value.
4. Xeris Biopharma Holdings
Xeris Biopharma Holdings is a growth-oriented pharmaceutical company specializing in the development and commercialization of unique treatments for patients with endocrinology, neurology, and gastroenterology-related illnesses.
One of its flagship products, Gvoke, is the first FDA-approved ready-to-use stable liquid glucagon used for the treatment of severe hypoglycemia.
The company achieved record net product revenue of $29.6m in Q3 ‘22, scoring a 31% year-on-year increase. The 52-week range of stock valuation was between $0.97 and $2.95, and analysts forecast for value to reach $5.36 within 12 months.
5. Vacasa
Vasaca is a leading rental property management company operating over 350,000 houses in more than 400 destinations across North America, Belize, and Costa Rica. The company’s revenue has grown by over 44% over the last year.
The stock has been volatile over the last year, with a 52-week range of between $1.08 and $9.38, and is projected to climb up to $4.11 over the next 12 months – an increase of 143.92% from the latest price.
6. Cidara Therapeutics
San Diego-headquartered biotechnology company specializes in the development of novel therapeutics for the treatment of fungal and viral infections. The outfit mainly focuses on the development of therapies for the treatment of serious fungal infections.
A recent FDA hearing voted favorably for the approval of the development and commercialization of rezafungin used for often fatal invasive Candida infections, for which no new drugs have been approved in over 10 years.
The company stock has been fairly volatile in the past few months, with the 52-week range being between $0.4 and $1.6. Should the market appreciate the company’s new soon-to-be FDA-approved offering, the stock is expected to climb up. The stock’s current rating is a “buy” from 10 analysts, with the value forecast to go up $6.46 in 12 months.
7. 22nd Century Group
An agricultural biotechnology company, 22nd Century Group is focused on genetic engineering and plant breeding. The company's main focus is on developing proprietary tobacco plants with very low nicotine content, as well as hemp/cannabis plants with unique cannabinoid profiles.
In the past year, the stock valuation ranged between $0.82 and $2.71, and 11 analysts are in agreement the price will rise by 325.44% to peak at $4.85 within the next 12 months. The company’s earnings are projected to grow 47.78% per year.
8. WM Technology
Formerly known as Weedmaps, WM Technology is an e-commerce, compliance, and advertising provider for outfits operating in the cannabis industry across North America. The firm operates a website and mobile application allowing customers to find and rate cannabis dispensaries, as well as order cannabis products for delivery or pickup.
More than half of the company’s revenue comes from California, where large-scale black market operations hinder its success and it has been slow in expanding its operations elsewhere. Yet, the outfit holds a relatively strong balance sheet with the earnings expected to grow 42.81% per year. It is estimated that the company is currently being traded at 61.4% below its fair value.
The stock has been fairly volatile with the 52-week range being between $0.80 and $8.35 and is expected to climb up to $4.07 within the next 12 months.
9. Spire Global
Spire Global is a San Francisco-based technology company that uses a network of satellites to gather data on global ship and aircraft movements, as well as weather patterns and other environmental data.
The collected data is used to provide insights for industries such as shipping, aviation, and insurance, as well as for government agencies.
The company’s revenue has grown over 104% over the last year, and the estimations show that it is being traded over 90% below its fair value. Over the past year, its valuation ranged between $0.86 and $3.52 and is expected to climb up to $3.24. 14 analysts rate the stock as “buy”.
10. Myomo
Myomo is a wearable medical robotics company focusing on the development and commercialization of devices that can restore function to the limbs of individuals suffering from neurological conditions such as stroke, spinal cord injury, and traumatic brain injury.
Its flagship product, MyoPro, is a myoelectric-controlled upper limb brace that uses the patient’s own muscle signals to control movement.
The stock has been highly volatile in the past few months with a 52-week average of between $0.36 and $8.07. The stock is forecast to climb up to $8.19, scoring a 1,583.11% increase from its current price, within the next 12 months.
How to Buy Stocks Under $2
Not many brokers list stocks under $2, but some major platforms like eToro, TD Ameritrade, and Fidelity include them in their offerings. For more options, visit our list of top
1. eToro - Overall Best Platform for Buying Stocks Under $2
eToro routinely tops the lists of the best trading platforms – for a reason. The platform offers top-notch usability and commission-free trading, along with a specific focus on social trading. Although it doesn’t allow OTC trading, its stock collection is far-reaching and its charting capabilities are supported by an industry-grade tool, ProCharts. Users can access sophisticated tools to assess the historical performance of their chosen asset and compare multiple assets at a glance.
| Name | Score | Visit | Disclaimer | |
|---|---|---|---|---|
| 8.7 | Visitetoro.com | Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. |
Account minimum deposit | $50 |
|---|---|
Commission | 0% |
KYC Required | Yes |
Demo Account | Yes |
Price | Free |
Investment Types | Stocks & Shares, Cryptocurrency, Forex, Commodities |
App | Yes |
2. TD Ameritrade - Best Platform to Buy Stocks Under $2 for Advanced Traders
TD Ameritrade’s platform thinkorswim is highly regarded among experienced and active traders due to its advanced features that allow traders to draw trendlines and conduct full-blown technical analysis. The platform is highly customizable with numerous indicators to include. To go one step further, traders can design their own analysis tools like studies, strategies, or watchlist columns using the in-built programming language thinkScript.
Features included in the language are capable of retrieving market data in real time while offering numerous techniques on how to process it. The platform also features step-by-step tutorials on how to use this capability.
| Name | Score | Visit | Disclaimer | |
|---|---|---|---|---|
 | 7.6 | Visittdameritrade.com |
Account minimum deposit | $0 |
|---|---|
Commission | $6.95 per OTC trade |
KYC Required | Yes |
Demo Account | Yes |
Price | Free |
Investment types | Stocks, options, futures, options, BTC |
App | Yes |
3. Fidelity - Best Platform to Trade Stocks Under $2 Commission-free
Fidelity combines affordability with industry-grade research and analysis tools. Traders can enjoy commission-free trading of penny stocks, and make use of the exceptional stock screener capability that comes with over 100 criteria to help narrow down the search. The advanced charting feature involves over 70 indicators to create custom charts – which is very valuable for active traders.
| Name | Score | Visit | Disclaimer | |
|---|---|---|---|---|
 | 7.5 | Visitfidelity.com |
Account minimum deposit | $0 |
|---|---|
Commission | 0% |
KYC Required | Yes |
Demo Account | Yes |
Price | Free |
Investment types | Stocks, options, EFTs, bonds, mutual funds |
App | Yes |
Why Are Some Stocks Valued Below $2?
Stocks being traded under $2 are also referred to as penny stocks, which is an umbrella term referring to stocks of companies that trade for less than $5 per share as per the US Securities and Exchange Commission (SEC). Most penny stocks are traded via over-the-counter markets rather than being listed on centralized exchanges like the New York Stock Exchange.
Stocks of this sort are usually associated with smaller or newer companies that have low liquidity or fewer investors in the market that are willing to buy their shares.
Due to low liquidity, investors are likely to face difficulties in selling their best stocks or finding a price that is more accurately reflective of the market. Considering the smaller company structure and market cap along with low liquidity, penny stocks are considered speculative securities that carry additional risk. While penny stocks may seem appealing due to their low cost, penny stocks are generally considered to be speculative securities that carry additional risk. This is because they are often issued by companies with low market capitalization, limited operating histories, and questionable financials. Additionally, penny stocks typically trade on over-the-counter markets, which are less regulated than major exchanges, making them more susceptible to fraud and manipulation. As a result, investors who choose to trade penny stocks should do so with caution and a thorough understanding of the risks involved.
Also, new penny stocks can be traded at any price, but the term "penny stock" generally refers to stocks that are traded at a low price, often less than $5 per share. While it is possible for new penny stocks to be traded at a price of less than $2 per share, this is not always the case.
Pros and Cons of Investing in Stocks Under $2
Before investing, it's crucial to know the benefits and risks involved in trading stocks under $2.
- Funding for Smaller Companies – Investing in penny stocks can assist smaller companies in obtaining funding from the public, which can aid in their growth over time.
- Potential for Growth – A stock of Ford Motor Company was actually traded for less than $2 per share back in 2009. While it's not a common occurrence, small companies that have stocks priced under a couple of dollars have the potential to grow into large, successful companies.
- Cheap Price – The most notable advantage of penny stocks is the low cost of purchase. A trader can buy a large number of shares even with a small amount of capital.For example, with $500, one can buy 1,000 shares at 50 cents each. If the value of these shares increases to $2, the trader can make a profit of $1,500.
- Very High Risk – Low-cost securities are considered speculative investments as they often lack a clear history or financial information, particularly when they are not listed on major exchanges.Due to this lack of transparency, they carry a high level of risk for investors, which can result in significant losses.
- High Volatility – Low-cost securities are traded among a handful of investors, meaning that any price swing can be quite steep. Therefore they require constant monitoring from investors to keep their losses to a minimum.
- Susceptibility to Manipulation – Due to the low level of liquidity, penny stocks are vulnerable to price manipulation, such as the "pump-and-dump" scheme where scammers artificially inflate the value of a stock by promoting it heavily, and then quickly sell it at a profit, leaving other investors with overvalued and essentially worthless shares.
Get started with eToro now
| Name | Score | Visit | Disclaimer | |
|---|---|---|---|---|
| 8.7 | Visitetoro.com | Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. |
Is Investing in Stocks Under $2 Profitable?
Theoretically, every asset can be profitable to invest in, yet this does not mean things will pan out that way. Trading in low-cost securities is attractive to some due to their highly volatile nature and high growth potential, combined with low cost there’s a chance of quickly turning a profit with the ability to buy numerous stocks.
Yet, this requires great commitment and market acumen, along with the ability to stomach high risk.
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