3 Stocks Under $10 to Buy Right Now

Some of the greatest 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 makes a big percentage profit easy 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 to $114.
  • Ford Motors (F) was written off as a $5 stock. Three years later, it’s topped $13.
  • Digital Turbine (APPS) ran from about $1.20 to $82 during the last tech rally.

While some may claim that sub-$10 stocks are “there for a reason” and “should be avoided at all costs,” that’s not necessarily bad advice. A $10 stock may be over or under-valued, depending on its growth potential and its industry cycle if it has one.

Instead, 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 could pop with patience.

Opportunity No. 1 – Nu Holdings Ltd. (NU)

Warren Buffet and his team took a $500 million position in Nu Holdings, a Brazilian-based bank, in 2021.

While the stock slipped out of the IPO gate moving from $10 to $4, the company appears to be growing, and shares are trending higher once again. They’ll likely break higher in times as they move to profitability.

Revenue went from $1.7 billion in 2021 to $2.2 billion in 2022 – a 29 percent increase at a time when bank stocks were out of favor with the market thanks to rising interest rates.

Nu Holdings saw revenues jump 114 percent higher in 2022 as well. This increasing profitability is likely to continue, as the Brazilian economy sees a rising and thriving middle class.

Opportunity No. 2—Veritone (VERI)

By now, I’m sure you’ve heard of artificial intelligence. It’s the biggest investment theme of 2023. More importantly, it’s a concept that embraces hardware, software, and human knowledge to reach new heights.

Already, there’s substantial interest since ChatGPT was launched in November 2022.

Multi-billion-dollar companies are racing for a piece of AI. And that’s where Veritone comes into play.

They provide machine learning algorithms and AI models to provide companies with data solutions. Veritone has focused largely on media planning and strategy, but also serves governments, law firms, and other markets for its products and services.

For companies that want to embrace AI without having to build out a costly in-house team, Veritone offers a simple solution at a fraction of the cost.

Opportunity No. 3 – FuelCell Energy Inc. (FCEL)

Beaten down hydrogen stocks like FCEL could see significant upside.

For one, hydrogen could play a major role with green energy development.

“Global discussions around the potential for a hydrogen (H2) economy have accelerated in the past 12-months…H2 has been well discussed as one of the major contributing forces in helping decarbonize the world’s economy, in particular given that some industries cannot easily make the battery shift,” according to analysts at UBS, as quoted by CNBC.

Two, Goldman Sachs believes the hydrogen market could grow about 10 percent annually between now and 2027. And its growth could accelerate beyond that, with a market worth up to $11.7 trillion in the next 30 years.

Plus, there’s a good deal of federal and state support for developing hydrogen energy technology. It could prove to be one of the cheapest fuel sources in history, combined with a low environmental impact.

All are major catalysts for companies like FuelCell Energy (FCEL), which has managed to generate revenues of $157.75 million in 2022, compared to $31.8 million in 2021. While this is still an early stage company that isn’t earning a profit, the growth potential in the years ahead make this an inexpensive stock to buy today.

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