359 stocks drop under $1

There are now 359 stocks trading for under $1 a share - the highest in more than 20 years, USA Today reports.

The number of stocks trading for less than $1 on major U.S. exchanges is up 38 percent this year and 420 percent from five years ago.

According to the report, a vast majority of the stocks under $1 are in the energy sector.

Read more from USA Today.