3 Top Stocks Under $5
Low-cost stocks often attract the attention of investors who hope to buy the next AMD or Monster Beverage Company. Unfortunately, most stocks below $5 per share, or "penny stocks," tend to have earned that price, often because of challenges such as unbearable debt levels or outdated business models.
However, some penny stocks have positioned themselves for potentially significant gains. Investors looking for such stocks should consider names including Aphria (NASDAQ: APHA), Hecla Mining (NYSE: HL), and Nokia (NYSE: NOK).
Canadian marijuana stocks such as Aphria had their day in the sun as Canada was preparing to legalize cannabis. However, when legalization actually took place in October 2018, it became a "sell the news" event for weed stocks. The industry suffered as the country faced a massive supply glut. Moreover, many Canadians continued to buy cannabis illegally as high taxes and supply issues drove them back to the black market. This curtailed revenue growth across the industry. Aphria, which once traded at close to $18 per share, has fallen as low as $1.95 per share in recent months.
Source Fool.com
