5 Stocks to Buy Under the Christmas Tree and Under $10 With Huge Upside Potential
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.
Each week we screen our 24/7 Wall St. research database looking for stocks rated Buy at major firms priced and under the $10 level (last week’s picks included Energy Transfer and Sirius XM). This week was no exception as we found five new stocks that could provide investors with some solid upside potential. Skeptics of low-priced shares should remember that at one point both Amazon and Apple traded in the single digits.
While more suited for aggressive investors (and with the number of new traders skyrocketing over the past year and making good ideas to trade even harder to find), they could prove exciting additions for traders looking for solid alpha potential. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Canoo
This stock has been crushed this year and, after a long sideways move, could be ready to trade much higher. Canoo Inc. (NASDAQ: GOEV) is a mobility technology company that designs, engineers, develops and manufactures electric vehicles for commercial and consumer markets in the United States.
The company offers B2B delivery vehicles, multi-purpose delivery vehicles and lifestyle vehicles using skateboard architecture technology. It intends to serve small businesses, independent contractors, service technicians, retailers, corporations, logistics companies, fleet managers and others.
Distinguished by its experienced team from leading technology and automotive companies, Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space that is customizable across all owners in the vehicle lifecycle to support a wide range of vehicle applications for consumers and businesses. Canoo has offices in California, Michigan and Texas.
Roth Capital has a $14 price target on Canoo stock. The consensus target is $13.75, and the stock was last seen trading at $8.35.
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