3 Stocks Under $10 to Buy Right Now

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Some of the greatest investment opportunities can be found in beaten-down, ignored stocks trading under $10.

Especially those with solid long-term growth and strong fundamentals. Their low price increases the chances of a big percentage return as investors and institutions pile in.

• Look at Advanced Micro Devices (AMD), for example. At one point, it was left for dead at $8 a share. It’s now up over $150, and has traded as high as $227.
• Ford Motors (F) was written off as a $5 stock. Recently, it’s topped $12.
• Digital Turbine (APPS) ran from about $1.20 to $82 in just two years, turning every $1,000 invested into over $68,000!

While some may claim that sub-$10 stocks are “there for a reason” and “should be avoided at all costs,” that’s not necessarily sound advice.

A $10 stock may be over or under-valued. It depends on its growth potential, its industry cycle if it has one, and its overall valuation.

So, with a little digging, you may just uncover the next Advanced Micro Devices, Ford Motors, or Digital Turbine.

In fact, here are three hot opportunities trading under $10, we believe are going to trend higher.

Opportunity No. 1 – Sirius Holdings (SIRI)

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When it comes to media, consumers have plenty of opportunities. But when it comes to satellite radio in their car, there’s only one player – Sirius Holdings (SIRI).

That gives the company tremendous cash flow – nearly $9 billion for fiscal year 2023.

Some of that cash flow is paid out to shareholders as dividends, giving the stock a current yield of 3.4%.

But Sirius shares look undervalued here.

Part of the reason is that 84% of shares are owned by Liberty Media (LSXMA), which is looking to form a new public company under the Sirius brand in late 2024.

That’s a special situation, which can often leave most investors on the sidelines.

However, Berkshire Hathaway (BRK-A), the conglomerate managed by Warren Buffett, has been an active buyer of shares. It’s likely that the company is worth far more without a confusing investment structure.

Investors who buy this sub-$10 stock now can benefit from the new shares once they start trading.

No matter how the company is structured, it operates as a virtual monopoly in the streaming satellite radio market, and earns billions of dollars in doing so. In time, the market will recognize that value.

Opportunity No. 2—iQIYI (IQ)

Entertainment and streaming services are a huge cash cow. There’s an insatiable demand for video content, and companies that provide a platform can profit.

iQIYI (IQ) is a Chinese company providing video streaming services to the world’s largest market.

Shares have struggled in the past year, but earnings soared 53% in 2023.

Chinese stocks have been out of favor for the past few years. That’s created some extreme values.

Since the start of 2024, Chinese stocks have started to trend higher. That could mean a multi-year rally, which would benefit companies like iQIYI.

With shares trading at 3 times forward earnings expectations, investors won’t find a cheaper streaming stock. Plus, iQIYI just posted its first-ever annual profit. Companies that shift from unprofitable to profitable can earn great returns.

iQIYI has also unveiled an AI search program that’s making it easier for customers to use the platform. The easier it is to use, the longer users will stay on the platform, and the more iQIYI will generate in ads.

As a smaller, sub-$10 play in the streaming market, iQIYI could provide big returns from a low starting share price.

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Opportunity No. 3 – Plug Power (PLUG)

The electric vehicle revolution has hit a few speed bumps. Just as these cars were becoming affordable and easy to manufacture, consumers have slowed their spending on cars.

Plus, customers have learned that EVs require readily-available charging and fast-charging needs. The first growth spurt of EV adoption occurred more quickly than the existing power infrastructure could adapt.

In a way, that’s good news. It gives investors an opportunity to buy into the long-term growth of the EV market during a time of fear. That provides a much better value.

One value today is Plug Power (PLUG).

They manufacture hydrogen and fuel cells for EVs, as well as backup power solutions for the power grid.

As with other EV names, shares have been out of favor. The company has adjusted to the reality of the EV market, which makes it a potential big winner from here.

Plug Power has made improvements in its hydrogen generation buildout. Plus, Plug has signed a number of deals to power cryogenic equipment.

Most tech trends go through an initial burst of optimism before the longer-term playout of the trend takes place. For EV and alternative energy sources, investors are past that first burst.

But as Plug Power continues to deliver on its ability to create alternative energy solutions, it can become a sizeable industry player and reward investors who pick up shares at a bargain price today.