Investing
5 Very Well-Known 'Strong Buy' Stocks Under $10 With Huge Upside Potential
July 9, 2022 6:10 am
Last Updated: December 30, 2022 9:05 am
While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy. Many of the biggest public companies, especially the technology giants, trade in the hundreds, all the way up to over $1,000 per share or more. At those steep prices, it is difficult to get any decent share count leverage.
Many investors, especially more aggressive traders, look at lower-priced stocks as a way not only to make some good money but to get a higher share count. That can really help the decision-making process, especially when you are on to a winner, as you can always sell half and keep half.
We screened our 24/7 Wall St. research database looking for well-known companies that could very well offer patient investors some huge returns for the rest of 2022 and beyond. Skeptics of low-priced shares should remember that at one point both Amazon and Apple traded in the single digits. One stock we featured over the years, Zynga, recently was purchased by Take-Two Interactive.
While all five stocks are rated Buy, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
This could be one of the best small-cap technology ideas now. Opendoor Technologies Inc. (NASDAQ: OPEN) operates a digital platform for residential real estate in the United States. The platform enables consumers to buy and sell a home online. The company also provides title insurance and escrow services.
Mortgage rates have dropped some recently, and while the housing market is cooling, in the hot markets the company focuses on, like Phoenix, the demand is still extremely strong.
JMP Securities has a $12 target price on Opendoor Technologies stock. The consensus target is even higher at $13.14. The shares last traded on Friday at $5.56.
This well-known cryptocurrency miner’s stock has been destroyed, and for those still positive on digital currencies, it may be a goldmine. Riot Blockchain Inc. (NASDAQ: RIOT) focuses on bitcoin mining operations in North America. It operates through Bitcoin Mining, Data Center Hosting and Electrical Products and Engineering segments.
In June 2022, Riot produced 421 bitcoins, an increase of approximately 73%, as compared to June 2021 production of 243 bitcoins. As of June 30, 2022, Riot held approximately 6,654 bitcoins, all produced by the company’s self-mining operations.
Last month, the company sold 300 bitcoins, generating net proceeds of approximately $6.2 million. Riot Blockchain currently has a deployed fleet of 42,455 miners, with a hash rate capacity of 4.4 exahash per second.
The B. Riley Securities target price is $16. The consensus target for Riot Blockchain stock is higher at $21.50. The shares closed on Friday at $5.46.
This fallen angel has been hammered, and savvy investors can scoop up the very cheap shares. Rocket Companies Inc. (NYSE: RKT) engages in the tech-driven real estate, mortgage, and e-commerce businesses in the United States and Canada.
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