The cheapest stocks on Robinhood can actually bring value to your investment portfolio. In fact, penny stocks have become a staple for both long-term investors and day traders alike. As Robinhood continues to grow in popularity, more investors are turning to the application. Therefore, let’s take a look at five of the cheapest stocks with upside moving forward.

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Cheapest Stocks on Robinhood to Consider for Your Portfolio

Stocks that are trading at low price points are intriguing for many reasons. And they are even more appetizing to novice investors. You can invest a small amount of money and receive a healthy number of shares. However, this doesn’t mean you are going to bring in massive gains.

It’s important to do your research on these penny stocks before investing. Scour the company’s website, dig through recent earnings reports and discover any news releases that relate to the business. You will also want to consider competition and market capitalization.

Cheap stocks hovering around $1 can be a great addition to your portfolio if you do your research. For example, a few of the cheapest stocks on Robinhood to invest in include:

  • Advaxis (Nasdaq: ADXS)
  • Acasti Pharma (Nasdaq: ACST)
  • Farmmi (Nasdaq: FAMI)
  • Gran Tierra Energy (NYSE: GTE)
  • Northern Dynasty Minerals (NYSE: NAK)

Each of these companies is trading around $1 at the current moment. And you can purchase their stock directly from Robinhood. From biotech to commodities, this is a unique group of businesses that has market potential in their given industries.

5. Advaxis

Advaxis is a biotech company that focuses on immunotherapy. Specifically, its goal is to develop treatments for non-small cell lung cancer.

Advaxis currently has drugs in early trial phases with more than promising results. Moreover, they recently signed a licensing deal with OS Therapies for a breakthrough technology that helps treat osteosarcoma.

Advaxis is one of the cheapest stocks on Robinhood at $0.10 a share with a 52-week high of $0.76. You may want to consider this company if trial results continue to impress.

4. Acasti Pharma

Acasti Pharma is a biopharmaceutical company with a focus on the development and commercialization of prescription medications for the treatment of cardiovascular diseases. Yes, that is a lot to take in. But Acasti Pharma has late-stage clinical trials underway for many different product candidates.

Along with a market cap below $100 million, Acasti Pharma may be the cheapest stock on Robinhood with the most potential. It’s currently trading for $1.18 with a 52-week high of $2.94.

3. Farmmi

Farmmi is an agricultural e-commerce and technology company located in China. Its work spans from family farm development and agricultural research to product processing and internet marketing. According to the company website, Farmmi produces “sustainable, organic and green agricultural products and healthy food.”

Farmmi recently announced the completion of an upsized underwritten public offering with gross proceeds of $48.3 million. In addition, the stock price is trading at $0.13 with a 52-week high of $1.05. Keep your eye on Farmmi as it continues to expand its development and make headlines in the process.

2. Gran Tierra Energy

Gran Tierra Energy is a Canadian company with oil and gas operations all over the world. This includes major projects in Ecuador and Colombia.

The energy sector took a massive hit due to the COVID-19 pandemic. However, travel is picking back up due to the vaccine rollout and the demand for oil and gas is rising.

Gran Tierra Energy is one of the cheapest stocks on Robinhood at $1.70 a share. Yet, it could be set for a massive boost as the summer approaches and travel begins to rise.

1. Northern Dynasty Minerals

Northern Dynasty Minerals is a Canadian mining company that has an intriguing operation in Alaska. The Pebble Project, as it’s known, is reported to have potential as the most significant underdeveloped gold and copper resource in the world.

In late 2020, the U.S. Army Corps of Engineers denied a permit for the project. But after an appeal, the company will now have a chance at receiving the permit after all.

This uncertainty has caused the share price to fluctuate up and down over the past few months. It’s currently trading around $0.40 a share with a 52-week high of $0.63. However, this stock may payoff for investors if the Pebble Project receives permit approval.

Investing in Penny Stocks

Penny stocks can be extremely volatile and come with more risk than you may imagine. However, the cost of entry and prospects of potential gains is why investors continue to bet big on cheaper stocks.

The digital age of investing is here and Robinhood is leading the charge. Don’t look past the cheapest stocks on Robinhood as many have loads of potential going forward.