7 Top Stocks Under $10: July 2024 Edition
Diversifying your investment portfolio is a sophisticated strategy that can enhance its resilience and potential for growth. One intriguing approach is to consider incorporating quality stocks priced under $10. These stocks, while carrying higher risks, also offer the tantalizing possibility of substantial rewards.
Lower-priced stocks are attractive because they allow investors to purchase a larger quantity of shares with a smaller outlay of capital. This affordability can be particularly appealing for those looking to expand their portfolios without heavily investing in more expensive equities.
To sift through the vast number of stocks trading at $10 or less, employing a stock screening tool becomes indispensable. The Portfolio Grader stands out as a useful resource in this regard, evaluating stocks based on metrics like earnings performance, growth prospects, analyst sentiments, and momentum. After rigorously reviewing these stocks, we’ve identified seven promising candidates, each meriting at least a “B” rating in the Portfolio Grader due to their compelling attributes.
1. Faraday Future Intelligent Electric (NASDAQ:FFIE)
Despite facing challenges such as listing compliance and the need for punctual financial report filings, Faraday Future is a company to watch. The company’s venture into electric vehicles in the U.S. and China, coupled with its innovative plans unveiled at a recent Investor Day, signals potential. Faraday is contemplating a reverse stock split to maintain Nasdaq compliance, adding a speculative element to its stock.
2. SoundHound AI (NASDAQ:SOUN)
SoundHound AI stands at the forefront of integrating artificial intelligence and machine learning into practical applications, like automating food orders and enhancing employee training. With its financial restructuring reducing debt and a substantial increase in revenue and subscription backlog, SoundHound is on the verge of profitability, making its stock an appealing choice for investors.
3. Kazia Therapeutics (NASDAQ:KZIA)
This Australian oncology firm is making strides with its developmental therapies for various cancers, particularly glioblastoma. Recent trial results showcasing the efficacy of its lead drug, paxalisib, have ignited investor interest, propelling the stock’s momentum.
4. Koss (NASDAQ:KOSS)
A renowned headphones manufacturer, Koss gained attention as a meme stock, experiencing significant volatility. While its financial performance shows areas of concern, the meme factor alone can drive temporary stock surges, advising cautious engagement from investors.
5. VivoPower International (NASDAQ:VVPR)
VivoPower’s focus on battery technology and electric vehicle services, along with the anticipated public debut of its subsidiary Tembo E-LV via a merger, positions it as a noteworthy investment for those interested in the EV market. Its performance this year attests to investor optimism.
6. Soligenix (NASDAQ:SNGX)
Soligenix’s promising trial results for HyBryte in treating cutaneous T-cell lymphoma have stirred significant excitement. While still speculative and early in the regulatory approval process, the potential for Soligenix warrants investor attention.
7. First Foundation (NYSE:FFWM)
As a regional bank, First Foundation’s recent capital infusion and anticipated stable earnings report offer a glimpse of recovery. Its performance over the past month indicates a trend toward reclaiming investor confidence, underscored by its strategic financial moves.
Investing in stocks under $10 requires a balanced approach, acknowledging the inherent risks while being open to the opportunities they present. The stocks featured in this July 2024 edition surpass the basic criteria, showing potential for notable growth, and merit consideration from investors seeking to diversify their portfolios.
