2 of the best cheap penny stocks I’d buy for the new bull market Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Royston Wild | Monday, 22nd March, 2021 | More on: COA GLB Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. “This Stock Could Be Like Buying Amazon in 1997” I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Coats Group and Glanbia. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Our 6 ‘Best Buys Now’ Shares Image source: Getty Images. See all posts by Royston Wild Enter Your Email Address The economic outlook remains plagued with uncertainty as the Covid-19 crisis rolls on. But questions over the timing of the eventual economic recovery haven’t stopped me from buying UK shares recently. In fact, there are some quality penny stocks I’m thinking of buying before April’s Stocks and Shares ISA deadline.Here are two cheap penny stocks I’m considering buying for the new bull market. UK shares like this all cost less than £1 each.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…#1: A top penny stock for the retail recovery2020 was a disaster for the broader fashion sector as Covid-19 took hold. Shop closures, allied with the rise of home working and restrictions on social gathering, caused total sales volumes of clothes in the UK to fall more than a quarter year-on-year. But I think fashion demand could be about to spike as lockdowns unwind and economic conditions improve.Past form shows us that spending on discretionary items always picks up strongly during the early stages of economic upturns. Things could be particularly explosive during the upcoming bounce-back too given the huge savings chests people have built up during lockdowns. I think all this bodes well for Coats Group (LSE: COA), a penny stock that makes threads, zips and trims for clothing (alongside a broad range of other products).This explains why City analysts think earnings here will soar 125% in 2021. It’s a projection that leaves this stock trading on a forward price-to-earnings growth (PEG) ratio of 0.1. Any value below 1 can suggest that a UK share is undervalued by the market. Be warned though, sustainability is becoming an increasingly pressing issue in the minds of consumers. It has the potential to hit demand for Coats’ products in future if people begin to scale back their wardrobes.#2: A UK share with serious muscleI also think Glanbia (LSE: GLB) could experience strong profits growth in the new bull market. Even UK shares that operate in the more stable food industry benefit from the uplift in broader consumer activity during economic recoveries. So I think this cheese manufacturer could see demand for its dairy products and ingredients growing.Glanbia also has its fingers in the sports nutrition products segment. It therefore stands to gain from the mass reopening of gyms and leisure centres as the Covid-19 crisis steadily recedes. I think that this particular side of the penny stock’s operations provide exceptional long-term profits opportunities too. Analysts at Grand View research reckon the protein supplements market will grow at an annualised rate of 8.4% through to 2028.City brokers think Glanbia’s profits will rise 7% in 2021, leaving the company trading on an undemanding forward price-to-earnings (P/E) ratio of 15 times. It’s possible that the rising popularity of vegan diets could hamper earnings growth at the dairy products manufacturer beyond the immediate term. But all things considered, I think this stock merits serious attention at current prices. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.