Best Stocks Under $10 To Buy Today

Drazen_ / iStock.com

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

Investing is a perfect option for those who are looking to put their money to work and build wealth over time. As first-time investors search for opportunities, they come across stocks like Apple, with price tags well over $100 — or more.

These high price tags can become a barrier for many. The good news is, there are plenty of stocks under $10.

Best Stocks Under $10 To Buy

Stocks under $10 typically represent small companies that make for riskier investments. Nonetheless, with a bit of research, it’s possible to find gems in this price range.

1. Amplify Energy (NYSE: AMPY)

Amplify Energy is a Houston-based oil and natural gas producer and developer that operates in Oklahoma, the Rockies, Texas, Louisiana and in federal waters off the Southern California coast.

Why we picked it: Elevated oil prices and increased investments in energy production should benefit oil producers in 2024, according to an energy sector research brief from Fidelity. Those oil prices, along with better-than-expected financial results in the first quarter, led Amplify to increase its 2024 full-year guidance for revenue and free cash flow.

Pros

• Analysts’ average 12-month price target is 45% higher than the current share price.
• Amplify has generated positive free cash flow in 15 of the last 16 quarters.

Cons

• The company experienced a net loss of $9.4 million last quarter, which it attributed to “non-cash unrealized losses on commodity derivatives.”
• Analysts expect Amplify to underperform compared to other oil/energy companies.

2. Travelzoo (NASDAQ: TZOO)

Travelzoo is an online travel agent whose platform lets consumers search for and book travel and entertainment deals from the 5,000+ suppliers Travelzoo partners with.

Why we picked it: The consumer discretionary sector held its own last year, despite inflation and high interest rates. With inflation on the decline and rates expected to follow, Travelzoo could hold, or even expand, the gains it has made since last November.

Pros

• So far this year, TZOO has performed slightly better than similar companies.
• Year-over-year profits increased 2% in Q1 2024, and earnings and revenue also grew.

Cons

• Revenue for the North American business segment contracted 4% last quarter compared to last year.
• Travelzoo implemented a subscription-based model in December 2023 but grandfathered in current customers for 2024. It won’t see membership fee revenue from those members until 2025.

Make your money work for you

Get the latest news on investing, money, and more with our free newsletter.

Senden

By subscribing, you agree to our Terms of Use and Privacy Policy. Unsubscribe at any time.

Thanks!

You're now subscribed to our newsletter. Check your inbox for more details.

3. Rocket Lab USA Inc. (NASDAQ: RKLB)

Space has always been an interesting topic, and Rocket Lab USA works to turn that topic into a profit. The company operates in the aerospace sector, offering launch services, satellite technology and other space-related products and services.

Why we picked it: The space economy is “booming” and could reach $1.8 trillion by 2035, according to the World Economic Forum. That means new opportunities for Rocket Labs. It’s one of just two commercial companies with re-entry capabilities, according to the Q1 2024 earnings presentation, and it has deals with NASA, Varda, Globalstar and Space Prime, among others.

Pros

• Analysts say Rocket Lab share prices could increase 49% in the coming 12 months.
• The company’s first-quarter revenues were up 69% compared to a year ago.

Cons

• Rocket Lab is not yet profitable.
• Earnings per share dropped $0.37 last year.

4. Oatly Group AB (NASDAQ: OTLY)

Oatly Group produces oat-based dairy products for a variety of uses, including plant-based yogurt, frozen desserts, cooking products and to-go drinks.

Why we picked it: Although Oatly is a defensive consumer staple stock, it debuted during the pandemic. After a short rise following shares hitting the market, prices declined steeply for nearly 10 months, dropping from $28 in June 2021 to less than $4 in April 2022. Things finally appear to be turning around. If analysts are right, share prices could more than double in the next 12 months.

Pros

• Oatly has produced returns over the last six months.
• The company presented a strong earnings report for Q1 2024.

Cons

• Oatly lost $416.87 million last year, and earnings per share decreased.
• The stock’s beta score of 2.15 indicates 2.15 times as much volatility as with the average stock.

5. MiMedx Group (NASDAQ: MDXG)

MiMedx Group develops advanced wound- and surgical-care products, including the No. 1 amniotic skin substitute.

Why we picked it: MiMedx has a strong position in a niche market within the defensive healthcare sector. Over 2 million patients have received its allografts, and its focus on payer insurance coverage has resulted in over $300 million in reimbursements. Analysts expect earnings growth this year, and their average price target is over 83% above the current share price.

Pros

• MiMedx consistently exceeds revenue and earnings estimates.
• The company’s growth measures are paying off with improvements in net sales and profit margin.

Cons

• Regulatory issues pose challenges with some of MiMedx’s products.
• MiMedx is profitable but doesn’t pay dividends.

6. Laird Superfood Inc. (NYSE: LSF)

Laird Superfood makes healthy plant-based foods using clean, functional ingredients. Consumers can purchase Laird products at select grocery stores, including Harris Teeter and Whole Foods, on Amazon.com or directly through the company’s subscription plan.

Why we picked it: The functional food market is expected to reach $349.22 billion this year and $488.31 billion by 2029, according to Precedence Research. That gives Laird plenty of room for growth, and analysts are taking notice. The number of analysts recommending LSF as a “buy” increased last month.

Pros

• The company is debt-free.
• E-commerce drove a net sales increase of 22% year-over-year in Q1 2024.

Cons

• Laird is not yet profitable.
• Despite a unanimous “buy” recommendation, analysts’ average 12-month price target is only slightly higher than the current share price.

7. Arcadia Biosciences (NASDAQ: RKDA)

Arcadia is an agricultural biotech company that produces high-fiber pasta products and pancake mixes and coconut water.

Why we picked it: Although it produces food, Arcadia actually operates in the materials sector, which is strongly influenced by economic cycles. Fidelity’s materials brief for 2024 notes that this sector typically does well early in new economic cycles, which the U.S. could enter if it continues to avoid recession.

Arcadia stocks, like the materials sector overall, performed poorly last year, but a positive first-quarter earnings release sent shares soaring. While share prices are still down year to date, analyst price targets average $9, which is nearly triple the July 5 closing price.

Pros:

• Arcadia is rapidly expanding distribution, and it recently introduced its mac and cheese products on Amazon.com.
• Net losses improved last quarter.

Cons

• The company has a small product line.
• A lingering risk of recession could hamper Arcadia’s near-term growth.

8. Stryve Foods (NASDAQ: SNAX)

If this list seems heavy on food manufacturers, the reason is that inexpensive stocks are often for companies with small capitalizations, and they tend to be clustered in a handful of industries — such as food. In this case, the food is snack food, including sugar-free air-dried jerky, biltong, charcuterie slabs and training treats for pets. Stryve distributes its products through a variety of retail stores and directly to consumers through its own website, Amazon.com and Walmart.com.

We we picked it: The healthy snacks market is $102.95 billion strong, according to Statista, and it could grow nearly 50% by 2030. While it would be imprudent to make investing decisions based solely on Stryve products’ popularity with consumers, demand is so high for some items that the company is having trouble shipping orders on time. What’s more, the stock is generating positive buzz in the financial press, and analysts say it has 120% upside.

Pros

• Stryve’s transformation strategy, which should be fully implemented before the end of the year, is paying off with improved financials.
• The company utilizes strong distribution channels.

Cons

• Stryve faces competition from well-known brands like Real Good Food and Petz.
• Despite strong performance recently, shares are still down 81% over the past year.

9. DocGo (NASDAQ: DCGO)

Working with partner hospitals and health systems, state and local governments, physician offices, health plans and businesses, DocGo delivers mobile healthcare directly to communities. It provides urgent care, preventative services and chronic condition support to patients in their homes, at work and virtually. The company also provides remote patient monitoring and medical transportation services.

Why we picked it: DocGo is a medical services provider, but it’s highly driven by data and technology. For example, it uses proprietary AI-powered computer-aided dispatch software to run most of its mobile health operations. Although it faces competition from companies like Sharecare, DocGo serves a much larger market and could establish itself as a silo in the mobile healthcare delivery and technology space.

Pros

• Insiders are acquiring shares, which could indicate that the stock is undervalued.
• The company reported strong year-over-year increases in total revenue, gross margins and net income last quarter following a 97% increase in mobile health services revenue.

Cons

• With analysts expecting earnings growth to decline, you might have to hold onto this stock to see significant growth.
• The stock has performed poorly over the last year, falling 68%.

Final Take

Although the stocks above are some of the best to buy under $10, they’re also quite risky — the price you pay for the opportunity for significant growth. If you decide that you’re comfortable with the risk and any losses that might result, investing in these companies can help diversify your portfolio. However, they should comprise only a small percentage of your total stock holdings.

Joshua Rodriguez contributed to the reporting for this article.

Data is accurate as of July 7, 2024, and is subject to change.

Share This Article: