Shares that trade under a couple of dollars can be really enticing for some investors and, at the same time, too risky for others.

Nevertheless, there are some really interesting shares trading at these lower prices and many of them give investors the opportunity to really diversify their portfolios away from the usual blue-chip stocks most investors are so familiar with.

Four shares that could be of interest to more risk tolerant investors include:

Freelancer Ltd (ASX: FLN)

Although Freelancer shares have lacked any real direction over the last 12 months, the next 12 months is shaping up to be extremely important for the world’s largest freelancing and outsourcing company.

The company is finally operating cash flow positive and, at the same time, still recording exceptional growth in registered users, projects and contests posted.

If these trends continue over the next 12 months, it wouldn’t be surprising to see the share price gain traction from here.

Amaysim Australia Ltd (ASX: AYS)

The growing demand for budget phone and data plans has seen Amaysim become a successful niche player in the highly-competitive telecommunications sector.

The junior telco disappointed some investors with its first half results in February despite posting quite healthy growth in subscriber numbers and sales.

The share price has failed to recover since then, with investors likely to remain cautious until the company releases its full year results in August. Nevertheless, Amaysim is definitely a company worth keeping a close eye on.

Cover-More Group Ltd (ASX: CVO)

Cover-More shares have been under real pressure since the start of 2016 after the company announced an unexpected profit downgrade after incurring higher-than-expected insurance claim costs.

The company is now working through these underwriting issues and is confident of finding a solution in the near term.

If the travel insurer can prove to the market it has solved these issues, I would expect to see a strong rebound in the share price as the company is still delivering strong sales growth in Australia, China and India.

Touchcorp Ltd (ASX: TCH)

After hitting a high of $2.77 in early January of this year, shares of Touchcorp have dropped more than 40% to $1.65.

For investors unfamiliar with the company, Touchcorp designs, builds and operates systems for the sale and delivery of electronic products such as phone credit, lottery tickets and gift cards.

The company has a good track record of signing up new customers and developing new product offerings and is also expanding its footprint into new parts of Asia and Europe.

After such a massive share price decline, this technology company is starting to look like pretty good value with a price-to-earnings ratio of around 20.

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Motley Fool contributor Christopher Georges has no position in any stocks mentioned. The Motley Fool Australia owns shares of TOUCHCORP FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.