Everyone is looking for a cheap stock that is successful. This page selects our favourite cheap stocks and explains why they have so much potential.
Our experts have scoured the market to find the best stocks under $2 or higher, out there in the market. They were all trading below $ 10 at the time of writing, and you can learn more about each one here, as well as the best trading platforms to find them.
What are the cheapest stocks to buy?
The table below ranks our expert picks for the five cheapest stocks this year. You can find the latest pricing information via the links in the table, or scroll down to read about each in more detail.
1. Nokia Corporation (NYSE: NOK)
Nokia is a Finnish technology company that is most famous for being one of the first major mobile phone manufacturers. Today, it has exited the smartphone game to focus on hardware and network infrastructure.
Its share price has been quite volatile in recent years. Most notably, after becoming part of Reddit’s investor-led memestock craze in 2021. That helped her recoup most of the losses incurred in late 2019 when she was forced to cut her earnings orientation.
2. Zynga Inc. (NASDAQ: ZNGA)
Zynga is a game developer best known for mobile games like Farmville and Words with Friends. It is one of the most popular online game developers with more than 150 million monthly users on its 65 mobile games.
The mobile games industry has been doing well for a few years and the pandemic only accelerated its growth. The share price of Zynga has doubled since early 2019 and rose 67% in 2020, as the number of people playing a mobile game increased by 10% over the previous year.
3. Sirius XM Holdings Inc. (NASDAQ: SIRI)
Sirius XM is an American radio station that was formed from the merger of satellite radio stations Sirius and XM in 2008. It has more than 30 million subscribers to its various audio services.
After flirting with bankruptcy in 2008, Sirius morphed into a full-fledged audio entertainment company, the largest in North America. She now owns the music streaming service, Pandora, and the podcast media company, Stitcher. That has helped rebuild the stock price from virtually nothing a decade ago to more than $ 6 in 2021.
4. United Microelectronics Corporation (NYSE: UMC)
United Microelectronics is a Taiwanese company that manufactures semiconductors. In particular, it produces parts known as integrated circuits and wafers, and its chips are often used in the automotive industry.
2020 was a great year for semiconductors, with prices skyrocketing across the board. Computer chips are extremely valuable in industries as diverse as automobiles, games, and cryptocurrencies, and the stock prices of companies like UMC reflect that fact. Its shares rose 250% between July 2020 and March 2021.
5. OrganiGram Holdings Inc. (NASDAQ: OGI)
OrganiGram is a Canadian company that produces cannabis for medicinal and recreational use. Formed in 2013, it sells things like vaporizers, groceries, and floral products.
The company has been in trouble lately because it has failed to generate profitability and the share price has been extremely volatile. However, it is now partly owned by British American Tobacco , increasing the possibility of some kind of joint venture in the future, and marijuana stocks in general have become extremely popular in 2021.
Where to buy the best cheap stocks
The best place to find stocks is always through a broker. These platforms below are the best, and they have been reviewed and approved by our financial experts.
What is a cheap share?
All shares on this page are trading at $ 10 or less. They are a bit more expensive than penny stocks , but follow a similar principle. You want to find a stock that is available cheaply and that could have the potential for your share price to grow significantly in the future.
Are cheap stocks a good investment?
In moderation they can be. Usually there is a glitch or two that have made the company available at such a low price, which means there is some risk. If you don’t invest too much in each one and spread your money over a few different stocks, then they can be a very good investment.
That’s because cheap stocks, like penny stocks , can make big gains in value. If a stock is highly successful, you can see a return many times your original investment. You just need to be realistic and comfortable with the idea that not every action you choose will be as successful.