With the third month of 2023 already well underway, the ripple effect from the collapse of multiple banks in the United States is felt far and wide, leaving investors to wonder which stocks are worthy of their attention but often disregarding those obtainable for less than a dollar.
With this in mind, Finbold has analyzed the stock market to arrive at the list of three stocks that have the best qualities and potential to succeed in this category (in no particular order), making them worthwhile of buying in March 2023.
Verastem (NASDAQ: VSTM)
Upon disclosing the exposure of about $2 million at the now-collapsed Silicon Valley Bank (SVB) and the government’s assurances that all the depositors of SVB would be fully protected and have access to their money, the shares of Verastem (NASDAQ: VSTM) had originally climbed 12%.
As a result, the stock of the biopharmaceutical company, which engages in the development and commercialization of drugs for the treatment of cancer, climbed to $0.45 at press time, despite recording a decline of 3.14% in the past five days.
Integra Resources (NYSEMKT: ITRG)
In late February, mineral resources company Integra Resources (NYSEMKT: ITRG) announced an at-market merger with Millenial Precious Metals to create one of the largest precious metal development and exploration firms in the Great Basin area of North America, further establishing its reputation as one of the leaders in the mining industry.
More recently, the company presented drill results from its DeLamar Project in Idaho, which had exceeded its expectations and continued to demonstrate the project’s potential, after which the price of the ITRG stock reached $0.53, up 1.47% in the last 24 hours and 1% over the previous five days.
Cybin (OTCMKTS: CYBN)
Another biopharmaceutical company, Cybin (OTCMKTS: CYBN) is engaged in addressing various mental health issues, focused on advancing psychedelics to therapeutics by engineering proprietary drug discovery platforms and innovative approaches.
As things stand, CYBN’s 24-hour chart looks a bit choppy, adding 0.73% on the day but losing 4.51% over the previous five days, trading at the price of $0.41. However, multiple analysts and hedge funds agree that Cybin is one of the best psychedelic stocks to buy.
Although it is important to remember that no smart investor should limit themselves to stocks that cost less than $1 apiece, the aforementioned assets certainly represent a good (not to mention cheap) opportunity to invest in during the third month of 2023.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.