Yes, it's true. There are a few stocks that trade on the New York Stock Exchange for less than a dollar a share. Here they are:
Bimini Capital Management, Inc. (BMN) a real estate investment trust that invests primarily in residential mortgage-related securities. Currently trading at 57 cents per share.
Impac Mortgage Holdings Inc. (IMH) another mortgage real estate investment trust. Trading at 99 cents per share.
SIRVA Inc. (SIR) a provider of relocation and moving services. 43 cents per share.
TOUSA, Inc. (TOA) makes and sells single-family residences, town homes, and condominiums. Trades at 64 cents per share.
Author does not own any of the above. All are very low cap and therefore should be considered very speculative.