5 Cheap New Stocks To Buy

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1. Bright Green Corporation (NASDAQ:BGXX)

Price: $0.49

Price Decline Over the Past Six Months: 74%

Number of Hedge Fund Holders: 4

New Mexico-based Bright Green Corporation (NASDAQ:BGXX) is a cannabis company which ranks 1st in our list of the cheap new stocks to buy. Bright Green Corporation (NASDAQ:BGXX) plans to offer cannabis products like cannabis flower, pre-rolls, concentrates, vape pens, capsules, tinctures, edibles, topicals, and other cannabis-related products. Back in September 2022, Bright Green Corporation (NASDAQ:BGXX) gained about 9% in premarket trading after the company entered into a securities purchase agreement with institutional investors to purchase 9,523,810 shares of common stock and warrants, at a purchase price of $1.05/share and accompanying warrant.

In November, Bright Green Corporation (NASDAQ:BGXX) posted its third-quarter results after which Bright Green Corporation (NASDAQ:BGXX) gained over 2%. Bright Green Corporation (NASDAQ:BGXX) said it ended the period with $4.06 million in cash, an increase from its cash position of $178,973 at the end of June 30, 2022.

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