Investors looking to buy the dip in a volatile market can find plenty of cheap Canadian stocks to buy right now.
In fact, some of the top Canadian stocks are trading at a discount but how do investors know when its time to buy?
Below, we’ll reveal three cheap Canadian stocks to buy right now and teach new investors how to buy cheap stocks in Canada with no commission fees.
How To Buy The Cheap Canadian Stocks With Zero Commission Fees
In 2022, top investing apps like Wealthsimple make it easy to buy cheap Canadian stocks with no commission fees.
In four easy steps, residents can receive free cash to invest in the best cheap stocks in Canada.
At Wealthsimple, new users can simply sign up, add funds, make a trade and receive $10 in free cash to buy their favorite cheap Canadian stocks.
Check out our step-by-step guide on how to buy cheap Canadian stocks with no commission fees.
- Click here to sign up for a non-registered Wealth Simple account
- Add funds to Wealthsimple Trade
- Make a commission-free trade of at least $100
- Receive $10 in free cash to buy cheap Canadian stocks
Best Cheap Canadian Stocks To Buy Right Now
Stocks with a low price are attractive because they have the potential for higher returns. For example, if a stock is $10, it only needs to increase by $5 to net a 50% gain while for a $100 stock, a huge increase of $50 gives a 50% return.
We will talk about the best stocks to buy now in Canada at a low price, continue reading to learn about and take advantage of the current price of these stocks.
- Bragg Gaming Group (TSX: BRAG)
- Hut 8 Mining Corp (TSX: HUT)
- Greenway Cannabis Corp (CSE: GWAY)
1. Bragg Gaming Group (TSX: BRAG)
First on the list of the best Canadian stocks at its price is Bragg Gaming Group.
It is a global B2B online gaming technology platform provider with operations across Europe and North America.
The company’s $30m acquisition of Spin games closed in June 2022, Spin Games has a solid presence in the US and the purchase of the company will help accelerate Bragg Gaming Group’s entry into the US and increase revenue in the future.
The company has a solid balance sheet with a cash position of $18M in its first quarter report and no long-term debt. It also has constant revenue growth over the last five quarters, which makes it one of the best Canadian stocks for its price.
2. Hut 8 Mining Corp (TSX: HUT)
Why is this company among the best in Canada?
It is one of North America’s largest innovation-focused digital asset miners.
The price of the company has been bearish in the last six months due to the current bearish sentiment in the cryptocurrency market, it is however a good buy at this price because:
- It holds 7,736 mined bitcoins held in reserve.
- It has a diversified revenue stream; it has 5 multi-tier data centers that offer services for high-performance computing.
- It has a solid balance sheet with $45M in cash held as at the end of the second quarter.
3. Greenway Cannabis Corp (CSE: GWAY)
The company produces cannabis for medical purposes in Canada.
It is one of the best stocks to buy now in Canada at its price because of its increased revenue in the second quarter.
It generated a revenue of $1.9M which was almost as much as its revenue in the previous full fiscal year.
Though Canadian marijuana stocks have struggled to generate returns for investors, GWAY appears to have positioned itself as a rising leader in the cannabis industry.