For those taking their first steps into the world of investing, affordable stocks are often the way to go.
They are very accessible to those with a limited investment budget.
The best stocks under $10 dollars are a great way to build a starter portfolio.
We’ll be blunt – not all cheap stocks are great buys. However, when you find an affordable stock that offers true value, there’s huge earnings potential to be had.
Some of today’s top stocks started under $10.
Apple and Netflix are industry behemoths now, but when they started, their stocks were worth just a few dollars.
We’ve rounded up some of the best under $10 stocks on the market right now.
Here’s what you should keep your eye on.
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What To Look For When Investing In Stocks Under $10
Stocks under $10 can have plenty of earning potential.
However, they can also be quite volatile. It’s important to know what to look for before purchasing low priced stocks.
Generally, you’ll want to stick to stocks traded on major exchanges like NYSE and NASDAQ.
This is because these stocks have much better liquidity.
Stocks with very low liquidity are subject to extreme volatility.
Before purchasing any affordable stock, you’ll also want to look at their price history.
In particular, consider their support and resistance levels.
When the stock hits its support level, that means it is likely to go up and it may be time to buy.
Finally, you’ll want to spend time researching each company before making a purchase.
This includes their yearly earnings and revenue, as well as their growth and their current cash flow.
You should also consider whether or not they have a dividend yield.
Taking the time to research your stocks is key.
While you can’t predict exactly where the market will go, familiarity with your investments is a good base for success.
Best Tech & Communications Stocks Under $10
Barnes & Noble Education (NYSE: BNED)
Barnes & Noble Education is the popular bookseller’s higher education division.
They provide learning products and services for universities and other higher education institutions, but they also offer resources directly for students.
BNED pivoted successfully during the pandemic to offer online learning solutions for their clients.
Although many colleges and universities are starting to open for in-person learning again, some will maintain a hybrid approach with digital elements.
This means demand for the company’s online learning products will likely continue, at least in the near term.
However, the return of in-person learning also presents an opportunity for BNED to revitalize segments of their business that have struggled over the last year.
For example, the company offers retail and merchandising solutions for college campuses.
After a short dip at the end of June, Barnes & Noble Education looks to be making up that ground and then some.
Nokia Corp. (NYSE: NOK)
The Nokia Corporation, formerly a mish-mash of several Finnish companies, now dedicates its focus solely to mobile and network services.
While Nokia isn’t as much in the spotlight as some of the other big names in mobile and networking, it still holds its own on the market.
The company consistently reaches its performance goals and looks to continue doing so for the foreseeable future.
As a result, they have seen increases in the stock market.
If Nokia is able to keep up its performance growth as planned, it should continue to be a good stock to invest in.
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ADT (NYSE: ADT)
ADT is a well-known security company based out of the southern United States.
Providing security cameras and systems for both residential and business, they are one of the largest security companies in North America.
A big feather in their cap was last year’s Google buy in, with the two companies working together to provide security through Google’s smart home devices.
ADT is holding close to the $10 mark, but it would not be a surprise if it moves past this point in the near future.
The company hopes to install more than one million new security systems this year alone.
With security becoming more and more of a priority each year, the company expects strong growth moving forward.
Best Stocks Under $10: Entertainment
Sirius XM Holdings (NASDAQ: SIRI)
Sirius XM was created as a result of a merger between Sirius and XM Radio in 2008.
They purchased Pandora back in 2018. Although they have stiff competition from music services like Spotify, Sirius XM is in the unique position of dominating the satellite radio market.
Although Sirius XM hasn’t seen explosive growth, they’ve steadily continued building their subscriber base year over year.
They also acquired Stitcher, a popular podcast app, in October 2020.
Sirius XM has been surprisingly successful during the pandemic.
With people still working from home, they have more freedom to listen to music or talk shows while they work.
Their share prices could go up even more as people do start to make their morning commutes again.
In the past, Sirius XM was most popular as a car accessory. The company has even partnered with car companies to pre-install satellite radio in vehicles.
This means that a rebounding car market could also be good for Sirius XM’s success.
Best Stocks Under $10: Health & Wellness
Harvard Bioscience, Inc. (NASDAQ: HBIO)
Harvard Bioscience has been around for over 100 years and today is a leading manufacturer of cutting edge laboratory and research instruments and equipment.
These products are often used in the never-ending quest of getting new drugs FDA approved for use in the United States.
The company has a footprint in the U.S. and Europe and has seen a growth in sales even throughout the pandemic season.
Harvard Bioscience continues to see steady gains on the stock market and shows no signs of letting up.
With a forecasted revenue growth of around 11% this year the business is preparing for another strong year.
Viking Therapeutics (NASDAQ: VKTX)
Viking Therapeutics is a biopharmaceutical company that’s working to discover ways to treat rare endocrine and metabolic disorders.
The stock has the potential to shine as Viking works to get its new medications through clinical trials to show they are worth adding to the U.S. Food and Drug Administration’s approved list.
Current drug showrunners include a pill to treat thyroid hormone conditions and have developed what they feel is a potentially groundbreaking type 2 diabetes treatment.
There is risk with investing in these biotech stocks. Should these drugs get the approval they need, this stock could see some incredible heights.
Amneal Pharmaceuticals (NYSE: AMRX)
Amneal Pharmaceuticals is an American pharmaceutical company that makes a wide variety of generic medications.
They’ve developed generic versions of some of the most sought-after stocks on the market, including pills, creams, inhalers, and more.
This stock stands out from other affordable biotech and pharmaceutical stocks because of 20 years of constant profitability.
Their financial growth has been slow and steady, which indicates that they could be a good long-term investment.
Many other stocks in the same industry and around the same price point are startups that struggle with debt and may not have the cash flow to stay consistently stable in the long run.
While Amneal Pharmaceuticals may not make any name brand medications, there is plenty of demand for their generic products.
There are always going to be patients who would prefer to save money on generic options.
More Of The Best Stocks Under $10 To Buy Now
Gold Fields (NYSE: GFI)
Gold Fields is a company based out of Johannesburg, South Africa.
If the name wasn’t a giveaway, they are one of the largest gold mining firms in the entire world.
The organization has mines nine different mines that span three continents.
Even though spending has been down during the pandemic, gold is a commodity that has been sought after since time immemorial.
Gold Fields has seen some volatility on the stock market but shows strong revenue year after year.
Comstock Resources, Inc. (NYSE: CRK)
Comstock Resources is an exploratory drilling company on the hunt for oil and natural gas.
The company services locations in multiple states and reports findings of trillions of feet of natural gas and the equivalent of 17 million gallons of oil.
Comstock and similar businesses took a hit in 2020 with the reduction in energy costs, but look to be well on the rebound.
Oil prices are rising high and natural gas looks to be rising even higher. Although prices can be volatile, things do seem favorable for Comstock Resources.
Rising energy prices could spell rising stock prices for the company.
Best Stocks Under $10: Final Thoughts
Buying stocks under $10 isn’t for everyone.
However, for investors who are willing to do their homework and find the best stock under $10, there could be plenty of financial advantages.
Because these low prices stocks come with some added risk, investors should carefully consider market data and share prices before making a purchase.
Buying stocks with low prices can be a good way for new investors to test the waters without paying too much per share.
Some of the highest performing companies on the stock market today started off under $10, so you never know what might happen.
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