When evaluating the best penny stocks to buy on ETrade, it’s important to understand what you’re getting into. Investing in a penny stock is always going to carry a greater level of risk than a more established stock with a strong track record. However, the right penny stocks carry tremendous upside. After all, at one point in time companies like Ford and Apple were penny stocks.
Best Penny Stocks to Buy on ETrade
- Amarin Corporation plc (NASDAQ:AMRN)
- Codexis, Inc. (NASDAQ:CDXS)
- 2U, Inc. (NASDAQ:TWOU)
- LivePerson, Inc. (NASDAQ:LPSN)
- Heron Therapeutics, Inc. (NASDAQ:HRTX)
- Braemar Hotels & Resorts Inc. (NYSE:BHR)
- Sunworks, Inc. (NASDAQ:SUNW)
- Sorrento Therapeutics, Inc. (NASDAQ:SRNE)
Before we get into our list of the best penny stocks to buy on ETrade, let’s talk about ETrade as a platform.
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Trading with ETrade
ETrade is an online brokerage firm that offers a variety of investment products and services, including stocks, bonds, mutual funds, ETFs, options, and futures. The company was founded in 1982 and is headquartered in New York City.
ETrade is a popular choice for investors of all levels, from beginners to experienced traders. The company offers a variety of features and tools to help investors manage their portfolios, including:
- A user-friendly trading platform
- Research tools and educational resources
- Automated trading features
- Customer support 24/7
ETrade also offers a variety of account types to meet the needs of different investors, including:
- Individual brokerage accounts
- Joint brokerage accounts
- Retirement accounts (IRAs, 401(k)s, etc.)
- Educational accounts
- Custodial accounts
ETrade is a regulated financial institution and is a member of the Securities Investor Protection Corporation (SIPC). This means that your investments are protected up to $500,000 in the event of a bankruptcy.
Here are some of the pros and cons of ETrade:
Pros:
- Low commissions
- Variety of investment products and services
- User-friendly trading platform
- Research tools and educational resources
- Automated trading features
- Customer support 24/7
Cons:
- High account minimums for some products and services
- Complex trading platform for some users
- Not available in all countries
Overall, ETrade is a good choice for investors who are looking for a low-cost, online brokerage firm with a variety of features and tools.
Still interested in the best penny stocks to buy on ETrade?
Here are some additional things to keep in mind about ETrade:
- E*TRADE charges $0 commissions for online US-listed stock, ETF, mutual fund, and options trades.
- There are account minimums for some products and services. For example, the minimum balance for a margin account is $2,000.
- E*TRADE is not available in all countries.
How To Buy The Best Penny Stocks on ETrade
- Open an ETrade account. You can do this online or by calling ETrade customer service.
- Fund your account. You can fund your account by linking a bank account, writing a check, or making a wire transfer.
- Find the stock you want to buy. You can search for stocks by ticker symbol, company name, or industry.
- Place your order. You can place a market order, which will execute immediately at the best available price, or a limit order, which will only execute if the stock price reaches your specified price.
- Monitor your order. You can track the status of your order in your E*TRADE account.
The 8 Best Penny Stocks on ETrade
Amarin Corporation plc (NASDAQ:AMRN)
Amarin is a pharmaceutical company that develops and commercializes cardiovascular products. The company’s most notable product is Vascepa, a prescription-only fish oil medication that is used to treat high triglyceride levels. Vascepa was approved by the FDA in 2019 and has been shown to be effective in reducing the risk of heart attack and stroke.
Codexis, Inc. (NASDAQ:CDXS)
Codexis is a biotechnology company that develops and commercializes enzymes and proteins. The company’s most notable product is TruNiagen, a dietary supplement that is used to improve mitochondrial function. TruNiagen is based on the company’s proprietary NAD+ technology, which has been shown to have anti-aging and health benefits.
2U, Inc. (NASDAQ:TWOU)
2U is an education technology company that provides online education solutions. The company’s platform allows universities and colleges to deliver their courses online. 2U’s platform is used by over 200 universities and colleges, including Harvard University, Stanford University, and the University of California, Berkeley.
LivePerson, Inc. (NASDAQ:LPSN)
LivePerson is a customer engagement platform company. The company’s platform allows businesses to communicate with their customers through a variety of channels, including live chat, chatbots, and voice calls. LivePerson’s platform is used by over 18,000 businesses, including Comcast, Amazon, and Delta Airlines.
Heron Therapeutics, Inc. (NASDAQ:HRTX)
Heron Therapeutics is a pharmaceutical company that develops and commercializes injectable products for the treatment of pain and other diseases. The company’s most notable product is Trulicity, a once-weekly injectable medication that is used to treat type 2 diabetes. Trulicity was approved by the FDA in 2014 and has been shown to be effective in reducing blood sugar levels.
Braemar Hotels & Resorts Inc. (NYSE:BHR)
Braemar is a real estate investment trust that owns and operates hotels. The company’s portfolio includes over 40 hotels, mostly located in the United States. Braemar Hotels & Resorts is a self-managed REIT, which means that it manages its own properties.
Sunworks, Inc. (NASDAQ:SUNW)
Sunworks is a solar energy company that develops, installs, and finances solar projects. The company’s projects are located in the United States, Canada, and Mexico. Sunworks is a publicly traded company, but it is not yet profitable.
Sorrento Therapeutics, Inc. (NASDAQ:SRNE)
Sorrento Therapeutics is a biopharmaceutical company that develops and commercializes drugs and vaccines. The company’s most notable product is COVISTIX, a rapid COVID-19 test that is approved by the FDA. COVISTIX is based on the company’s proprietary CRISPR technology, which has the potential to revolutionize the way diseases are diagnosed and treated.
Please note that these are just a few of the many penny stocks that are available on ETrade.
Best Penny Stocks on ETrade – Final Thoughts
Finally, when evaluating the best penny stocks on ETrade, it’s important to consider the company’s financial health, management team, products or services, industry and the overall market conditions.
It is also important to remember that penny stocks are not suitable for all investors. As stated earlier, they should only be considered by investors who are willing to take on a higher level of risk.
Don’t have an ETrade account? Check out are list of the Best Penny Stocks to Buy on Robinhood.
