Robinhood Penny stocks

The Top 7 Robinhood Penny Stocks In September 2022 

Millions of investors are using other apps like Robinhood to make stocks but looking for real, low-cost penny stocks that you can buy by investing your own money. If so, you are in the right place to be one of these investors.

But first, let’s talk about penny stocks.

Penny stocks are shares of small companies usually sold at a much lower price than those of larger companies. Despite the name, the term “penny stock” can be used for any stock worth less than $1.

Penny stocks are also attractive to investors because they have above-average volatility. The volatility of a stock describes the frequency and magnitude of the rise or fall in a stock’s price on a typical trading day.

So relax and read on as I show you the best Robinhood stocks under $1 that you can buy.

A Brief History of Penny Stocks

According to Wikipedia, “penny stocks” (small capitalization stocks, small market capitalization stocks, or over-the-counter stocks) are common stocks of small public companies that trade for less than $1 per share.

Despite the name, the term “penny stock” can be used for any stock priced between $1 and $5. you can trade penny stocks on the open market. Still, many are traded on exchanges regulated by the Securities and Exchange Commission (SEC), such as the New York Stock Exchange (NYSE).

One of the most common forms of small-cap stock fraud is the “pump and dump.” In a pump and dump, traders who hold shares of a particular stock deliberately spread false or misleading information about the Company that issued the stock, thereby driving up the price of the stock.

Another reason why penny stocks are so attractive to investors is that they have above-average volatility.

The volatility of a stock describes the frequency and magnitude of the rise or fall in the price of a stock on a typical trading day.

Which is the best penny stocks to buy? Best 7 Penny Stocks 

1. Hexo Corp

This is one of the cheapest stocks on Robinhood that can be bought for less than $1. Regarding cheap marijuana stocks, catalysts in the sector could be the tide that lifts all boats.

But Friday’s session also brought some legislative news. According to analysts, HEXO stock is not priced at its highest.

However, analysts at BMO Capital Markets rate the cheap stock as a “market performer.” The Company also set a $1.30 price target, which is more than 50% above current trading levels.

2. Oragenics Inc

Oragenics Inc. is not currently a company with a price target or analyst rating. However, the Company has taken several initiatives.

This contributed to the growth in the second half of the fourth quarter. Since November 20, OGEN stock has risen from approximately $0.38 to a high of $0.6499 this week.

That’s up more than 70% in just a few weeks on a move of fewer than 30 cents. The Company recently completed a $6 million IPO, raising the capital needed to expand its preclinical development.

Oragenics is working primarily on its SARS-CoV-2 vaccine, Terra CoV-2, and its lantibiotic program.

3. Avinger Inc

Avinger Inc – is one of Robinhood’s penny stocks that you can buy for less than $1. The firm rates the stock a “Buy” and gives a target price of approximately 212% above the current trading level of $0.32.

AVGR shares are expected to trade at $1.00 and were issued in September. In addition, Avinger received an extension from the exchange in early December, giving it until May next year to reach $1.

Among other things, Avinger is considering a possible reverse stock split from 1:5 to 1:20, which will be voted on at its annual general meeting on December 10.

4. MFA Financial Inc

MFA Financial, Inc – is a real estate investment trust that invests primarily in residential real estate and leveraged mortgages, including mortgage-backed securities and whole home loans.

MFA Financial Inc (NYSE: MFA) is also one of the cheapest penny stocks on Robinhood, with a price of less than $1.

Even after the selloff, this stock has risen sharply and steadily with very little volatility.

Although MFA stock doesn’t show much daily fluctuation, it has gained more than 780% since March.

5. Nokia

Nokia Corporation is a Finnish multinational telecommunication, computer, and consumer electronics company. It is also one of the cheapest stocks on Robinhood.

Nokia Corporation (NYSE: NOK) is one of the strongest recovery stories since the March selloff. However, things deteriorated rapidly in late August. The penny dropped from $5 to $3.50 last week.

Still, Nokia remains one of the most popular stocks on Robinhood. Is this because few stocks under $5-5 are involved in 1G, or could this be another “popular names” buying scenario? Investors are worried about the timing for many reasons.

6. Aphria Inc.

Based in Leamington, Ontario, Aphria Inc. is an international producer and distributor of medical and recreational cannabis. The Company has set a price of $1.

The business runs through wholesale and retail channels both domestically and internationally. Aphria is one of the largest cannabis companies in the world and is listed on the Toronto Stock Exchange. Stock Exchange and NASDAQ

Another stock to watch is Aphria Inc (NASDAQ: APHA). It is also one of the most popular penny stocks on Robinhood.

Unlike Aurora, Aphria has fared slightly better in a volatile sector. However, it recovered from a high of $6.44 a few weeks ago.

7. Aurora Cannabis Inc.

This is one of Robinhood’s cheapest and most popular stocks. Buying pennies may not be the best choice. Momentum usually exists where there is attention. Aurora Cannabis Inc (NYSE: ACB) is not used to volatility.

Aurora expects its revenue to be higher than the previously announced expectations of $60-64 million. The Company also expects adjusted gross margin to be between 46% and 50% in the quarter.


Another reason why penny stocks attract investors is that they have above-average volatility. The volatility of a stock describes the frequency and magnitude of the rise or fall in the price of the stock on a typical trading day.

For example, if you buy 1,000 shares of stock X at $1 and sell them at $2, you double your money and make $1,000. But this high volatility also means that you can lose money quickly.

I am sure that after reading the 10 cheapest penny stocks in this article, you will have found the one that suits you and bought it.

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