5 best stocks under £1 to buy for Q4 2023
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This page picks out stocks that are available for less than £1 or $1 per share at the time of writing. All of these companies have an element of risk to them, which is why they are available so cheaply, but they are ones that our experts believe to offer the most potential for returns as well.
What are the top stocks under £1 to buy?
Copy link to sectionOur expert picks are available in the table below. You can click through to see the most up to date price information by clicking on the links on their stock ticker, or keep reading to learn more about why we have chosen each one.
| # | Stock symbol | Company name | Trade now |
|---|---|---|---|
| 1 | GPL | Great Panther Mining | |
| 2 | CINE | Cineworld Group | Trade CINE 77% of retail CFD accounts lose money. |
| 3 | BIOL | Biolase | |
| 4 | TTOO | T2 Biosystems | |
| 5 | ASRT | Assertio Therapeutics |
1. Great Panther Mining (NYSEAMERICAN: GPL)
Copy link to sectionGreat Panther Mining is a Canadian company that mines precious metals like gold and silver. First founded in 1965, it has undergone a few transformations since then and now trades on both the Toronto Stock Exchange and the NYSE American.
The changes in the company over the past half century have taken it from an Emerald mining company that focused on exploration in Zimbabwe, to a metals miner with operations in Mexico and South America. Its stock has never been very expensive and has been stuck around the £1 mark for many years.
The reason for buying any mining or exploration company is the potential for it to discover lucrative new sites. Great Panther Mining is exploring a number of possible opportunities and if it is able to find some quality ore in these places then the stock might be able to reverse its long term trend.
2. Cineworld Group (LON: CINE)
Copy link to sectionCineworld is a UK-based cinema chain that was hit hard by the pandemic. It’s the second largest cinema chain in the world and operates about 800 sites across Europe and the US.
Cinemas were affected as badly by COVID-19 as any industry and Cineworld bore the brunt of it. Its stock price plummeted by 75% in March 2020 and has barely recovered, with dire warnings that the company might go bankrupt occurring at regular intervals throughout the crisis.
However, although the company burned through a lot of cash, it hasn’t had to close too many cinemas. It might not offer as much growth potential as other stocks in this price range but it could quite easily recover back to its former glories. The risk is how much of a systemic change the pandemic wrought by turning more viewers to Netflix and Disney+, who might never return to the cinema.
77% of retail CFD accounts lose money.
3. Biolase (NASDAQ: BIOL)
Copy link to sectionBiolase is an American company that is the global leader in pioneering dental lasers. This technology lets dentists perform procedures without needing invasive drills, making the process much easier and more comfortable for the patients.
The company has been very badly affected by COVID-19, which is why its stock now trades at such a low price. Not only did lockdowns affect dental clinics themselves, but it meant salespeople couldn’t visit them and impacted international deliveries. Biolase’s 2020 results were even worse than the previous two years, and meant it has now reported losses for three years in a row.
The bullish case for Biolase is that the market might have overreacted to a one-off event and it can rebound after the pandemic eases. It has an innovative product and lots more (40+) laser systems in development. There might be a clearer route to profitability if it can get through its short term troubles.
Check this guide out to learn more about how to invest in Biolase.
4. T2 Biosystems (NASDAQ: TTOO)
Copy link to sectionT2 Biosystems is a biotech company whose technology is used to detect early signs of diseases like sepsis and Lyme disease. It can return blood test results in a few hours, compared to the days it would normally take, and identify bacteria earlier than has been possible up to now.
The reason T2 is available so cheap is because it has had some significant financial difficulties over the past couple of years. It pours a lot of money into developing new technology and regularly posts serious annual losses, to the extent that it has been close to running out of money. That has driven its share price down from nearly $10 to below $1.
Its ability to reverse the trend relies on having its diagnostic tests approved by the medical authorities, which is a process that’s difficult to predict. However, biotechs often only need a single, big name success to prove the technology works. Investing in cheap biotechs with little money is risky, without question, but there is the potential for them to rise dramatically in price if they capture the public imagination.
5. Assertio Therapeutics (NASDAQ: ASRT)
Copy link to sectionAssertio is a pharmaceutical company that develops treatments for the central nervous system and pain medication. It has fallen on hard times of late, after the patent protection for some of its successful drugs ran out, which is when other companies can come in and produce cheaper alternatives.
Since 2016, Assertio stock has lost 99% of its value. That led to it having to perform some financial gymnastics to stay afloat. If a stock falls below $1 for 30 days they can be removed from the NASDAQ exchange, so Assertio performed a reverse stock split (reducing the overall number so that each one is worth more). It worked for a while but the stock is back below $1 again at the time of writing.
It’s not a sustainable long term strategy to live so close to the line, so there’s more risk with Assertio than others on the list. However, pharma companies only need to get approval for one or two new treatments to make big money. Assertio has achieved that before and if you invest, that’s what you’re banking on happening again.
Where to buy the best shares
Copy link to sectionIn order to invest in any of these companies you need to find an online broker and create an account with them. The options below are all excellent and offer stocks from a range of different stock exchanges and at different price points.
77% of retail CFD accounts lose money.
Buy or sell stock CFDs with Plus500. 82% 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.
Is buying stocks for less than £1 a good investment?
Copy link to sectionIt can deliver huge returns if you choose the right one. However, it’s very difficult to pick right and many of these companies are available at such a cheap price for a reason. A stock that’s trading at least than £1 has much more chance of going bust, which would mean you lose your entire investment, than a more expensive, established company.
At this price point, it can be more difficult to buy the stock in the first place as well. Companies that don’t trade on the major stock exchanges, like the NYSE, NASDAQ, or FTSE, might not be available through your broker. On top of that, it’s harder to find information about them online.
If you invest with all that in mind, then there’s no harm in putting a small amount of money into stocks like the ones on this page. It’s a good idea to spread your funds out amongst a few different companies so that you have the best chance of picking one that succeeds, and keep as close an eye as you can on the latest news that might affect the company.
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