Each investor is on the hunt for different things. For beginning investors, the lower the stock price the better. This is because most new investors don’t have a lot of money to invest with. They are looking to get the most shares for the least amount of money. For these investors, I present 3 hot stocks under $10.
Compiling this list was a little more work than I thought as many stocks priced under $10 are done so for a reason. They are going through a turnaround and investors beat the stock price down as they sold in waves.
It’s not easy to find hot stocks under $10 that are worth investing in, regardless if you are looking to invest long term or just make a quick return on a popping of the stock price.
So after some research, I present to you these 3 hot stocks under $10. They do carry some risk with them, but risk and reward are related, so you could make a nice profit if they are able to make things happen.
#1. Fitbit (NYSE: FIT)
Fitbit stock is trading at just over $5 per share because of the mountain of competition in the wearable technology industry. And when Apple decided to enter the market with its Apple Watch, most other companies in the industry took a hit. This includes Fitbit.
But the company does have the potential for a bright future. Later in 2017 the company is introducing new products, including ones that will help with diabetes and sleep apnea.
Then there are rumors that the company is developing a watch that will rival Apple’s and even do things that the Apple Watch cannot do.
Recent earnings were not amazing, with earnings per share coming in at $0.00 which beat by $0.15. Revenues were $353 million, also beating estimates but down 40%.
The company needs a lot to go right with their new generation of products in order to jump-start the stock price. But they do have an ace up their sleeve. At a market cap of under $1 billion, they are a prime takeover target.
#2. Cliffs Natural Resources (NYSE: CLF)
