10 Stocks Under $10 to Buy Now
Many investors may be scared off in these types of volatile markets. It may seem unwise to buy stocks with the market back so close to its all-time highs.
However, those who buy low-priced stocks with big upside potential now will be able to reap the rewards, even if the market rally slows.
With that in mind, there are plenty of great companies trading for less than $10 per share.
That’s a price that allows investors to easily scale into an investment. And it can include a number of both large-cap and small-cap stocks, as well as those that provide both growth and value.
Below are 10 stocks currently trading for under $10 that are poised for benefit from the stock market’s next rally.
Coty (COTY)
Industry: Cosmetics
Coty manufactures, markets, and produces cosmetics worldwide. That includes fragrances, skin and body care products, and color cosmetics.
Coty partners with many high-end brands, including Gucci, Hugo Boss, Calvin Klein, Marc Jacobs, and others, with its products largely selling at prestige retailers. That makes Coty’s products in high demand for aspirational customers around the world.
Plus, Coty continues to lead the cosmetics industry in new products and services. In September 2024, Coty launched a scientific advisory board, which will meet twice a year to work on R&D breakthrough ideas, starting with skincare products.
The cosmetics industry has seen some big fluctuations over the past few years. Demand waned during the pandemic, and has still not fully recovered. That has kept a lid on cosmetics companies for the time being.
But Coty has been rapidly growing revenues, thanks to moves such as using influencers to better market its brands.
Coty has been working to improve its balance sheet, making moves such as buying back its 2026 notes early to save millions on debt payments. Plus, moves to cut costs have helped earnings grow much faster than revenues.
In the meantime, Coty trades at a slight discount to other cosmetics companies. Given its positioning and strong basket of brands, this sub-$10 stock may not stay there for long.
IAMGOLD (IAG)
Industry: gold mining
In times of economic uncertainty, investors often turn to gold.
Investors first jumped into gold during 2020, amid fears that the pandemic stimulus would fuel inflation. It did. But as inflation peaked, gold prices pulled back.
Today, with government spending still running high and deficits mounting, money is starting to trickle back in. Central banks have become massive buyers, and retail investors have also helped push gold to new all-time highs over $2,800 per ounce.
While gold prices have been trending higher, gold mining stocks have been performing weakly, even as their operations have been holding up well. But the push higher in gold will mean improved profits for gold miners, and shares are likely to rally higher over time.
When gold rallies again, these stocks tend to perform even better than the price movement in the metal itself.
One inexpensive stock in this sector is IAMGOLD (IAG).
The mining producer has operations in Canada and Burkina Faso. Canada is one of the most politically safe jurisdictions for gold miners, which can be a concern for mining operations in some parts of the world.
Burkina Faso is also politically safe, but there is more armed violence in the country that periodically breaks out, which can mean that gold mining operations there face the potential to be shut down for brief periods.
With gold prices on the rise, IAMGOLD has been a strong performer, bucking the trend of underperformance in the gold mining space. That’s a trend likely to continue thanks to the company’s still low valuation of about 6 times earnings.
With investors still concerned about inflation, which continues to trend above the target goal of central banks, it’s ideal to hedge with gold and winning gold stocks like IAMGOLD.
Transocean (RIG)
Industry: Offshore oil services
Energy stocks often move at a different pace than the overall stock market.
For instance, most stocks spent the first half of 2022 selling off, energy stocks proved the best performing sector with a strong rally. Oil prices spiked to nearly $120 per barrel, but cooled off in the second half of the year to under $100.
In 2023, oil prices moved lower, but production cuts from the OPEC+ cartel point towards a bullish cycle for oil in the latter half of the year. And in 2024, oil prices stayed on the low side, but energy companies continued focus on lowering costs and improving their profitability.
Investors have plenty of options with expensive, well-known energy companies. A potentially surprising winner here could be offshore oil services company Transocean (RIG).
The company has been racking up new contacts, which has allowed revenues to rise, even as the energy sector has been unwilling to invest heavily in new sources – onshore or off, at least for the time being.
The company trades at an excellent valuation relative to other industry players right now. That’s because energy investors tend to prefer onshore oil investments to offshore ones, given the costs.
But if oil prices move higher and stay there – demand for offshore services will soar.
That could lead to Transocean outperforming other names in the space on oil’s next move higher.
Banco Bradesco (BBD)
Industry: Regional banking
2023 saw the second and third largest bank failures in U.S. history. Many smaller banks were beaten down on the news, and remain that way, even more than a year later.
However, international banks have different capital requirements, and operate out of countries on a different interest rate cycle. Today’s bank investors may find better bargains elsewhere, such as Banco Bradesco out of Brazil.
Besides providing traditional baking products like checking and savings accounts as well as loans for real estate, they also have insurance services. Since insurance tends to be more stable than banks during credit events, that gives Banco Bradesco some extra stability for investors.
Plus, the bank trades at a 15% discount to its book value, and goes for about 7 times earnings, a value in-line with some of the beaten-down U.S. banks right now.
On the meantime, Banco Bradesco also pays a dividend. While that’s variable based on foreign exchange and the company’s earnings, the most recent yield was 1.7%, and future dividends will likely be in that range.
With markets trending higher, foreign markets still look undervalued relative to U.S. ones, especially given the potential risks in the U.S. financial market.
JetBlue Airways (JBLU)
Industry: Airlines
One of the most volatile industries of the past few years has been the airlines. The shutdown from the global pandemic impacted the industry heavily, but government support kept share prices strong in 2020 and into 2021.
In 2022, that picture changed. A weakening economy and rising interest rates could lead to a drop in consumer spending, which could impact spending on travel such as airlines.
That’s caused some analysts to potentially see the company shares going to zero. However, that outlook appears too pessimistic.
Air travel records began setting new highs again in 2023, and the industry has fully recovered, once again setting new travel records in 2024… but there are still some bargains out there today.
Even with global travel back to normal, many of these companies haven’t performed well.
JetBlue Airways has been on the outs lately, as the company’s attempt to buy competitor Spirit Airlines failed to meet regulatory approval.
The legal fears surrounding the merger kept shares trading in a range. And while JetBlue won’t be able to benefit from a big acquisition, it also won’t have to deal with the high debt level that a major merger would provide.
Following regulatory rejection of the merger, Spirit Airlines quickly moved to bankruptcy. But JetBlue has yet to recover from the hit shares took during the attempted merger deal.
That means it’s likely that shares will recover in time, giving investors a hefty potential return.
Prairie Operating (PROP)
Industry: Oil and gas exploration
When it comes to energy investing, the biggest returns can come from smaller companies. That’s because smaller companies have a higher growth potential.
A major oil company can’t double the number of wells it opens in a year. But an up-and-coming player like Prairie Operating can.
Based out of Colorado, Prairie is drilling for oil using horizontal fracking and other technologies that can extend years to the life of an oilfield.
Prairie has a low cost to operate, which means they can still make money at today’s oil prices. And that’s after dealing with Colorado’s extensive energy regulation, which is the toughest in the nation, resulting in some of the cleanest oil production in the United States.
The oil and gas industry has been underinvesting in new projects for nearly a decade, instead focusing on mergers to replace lost reserves. Prairie is part of a new wave of energy companies getting back to its roots.
As Prairie continues to expand its drilling operations, revenues are likely to soar, and with it, the share price.
Plus, if the operation proves successful, the company could get bought out at a premium, offering shareholders one of the best ways to see high returns in a slow energy market.
Hanesbrands (HBI)
Industry: Apparel manufacturing
The clothing industry can be a profitable one, provided investors get in at the right time. Now may be such a time for Handesbrands, a designer of activewear and innerwear.
Clothing demand doesn’t change much year-over-year, although styles and fashions certainly do.
For Hanesbrands, which largely produces innerwear such as socks, T-shirts, and underwear, there is steady demand. That means that Hanesbrands can continue to grow consistently over time.
Hanesbrands operates its own line of innerwear, but also manufactures innerwear for a variety of other companies, such as Champion, Playtex, Polo Ralph Lauren, Maidenform, and many more. Essentially, Hanesbrands is the top play for the slow-and-steady innerwear sector.
Currently, Hanesbrands trades at about 12 times earnings, about half the valuation of the overall stock market. And shares trade at about one-half their price-to-sales. That’s a hefty discount and sign that further growth is likely.
The market is finally starting to reward Hanesbrands for improving its operations and turning things around after a few sluggish years. Even with shares already on the rise, shares of this sub-$10 stock still have a ways to go.
IGM Biosciences (IGMS)
Industry: Biotechnology
Over the past few years, biotech stocks have been out of favor with the market. However, market trends change in time, and these stocks are perking up. Plus, specific biotech names could perform well.
IGM Bioscienes is one such name.
The clinical-stage autoimmune and inflammatory diseases researcher has a number of promising products in its pipeline.
As an early stage company, IGM isn’t expected to make a profit. But the company is cash-rich, and can sustain losses without having to issue more shares or debt anytime soon.
Should IGM have a breakthrough on one of its products, chances are it will work with a major drug producer, and may even get bought out entirely.
Either way, that means shares of this inexpensive company could jump higher from any positive news.
Cipher Mining (CIFR)
Industry: Cryptocurrency infrastructure
Cryptocurrencies offer investors the potential for some big swings. But over time, investing in the space can lead to big profits.
Now may be one of those times.
That’s because 2024 saw the SEC approve trading for ETFs that trade bitcoin. And bitcoin went through another halving event in April, which saw its reward for mining get cut in half.
Prior halving events have led to big price jumps higher after a period of consolidation, which ran into late 2024.
As cryptocurrency prices move higher, that tends to benefit companies in the business of mining bitcoin, more than offsetting the reward drop.
That could bode well for Cipher Mining (CIFR, a data center owner and operator for those mining digital assets. That includes providing design, procurement, construction, and management of such facilities.
With mining operations looking for an edge in speed, electricity costs, and service, Cipher could have tremendous upside with the next crypto boom underway.
Shares are already trending higher, but the latter part of a crypto bull market is always more explosive than the first half. That could mean far more upside ahead and a way for investors to profit from the continued move higher in cryptocurrencies.
Goodyear Tire & Rubber (GT)
Industry: Auto parts
Some of the world’s leading brands trade for less than $10 per share. Goodyear Tire & Rubber is one of them.
They’re a global leader in tires and related products, and own such brands as Cooper, Dunlop, and even manufacture private-label and house brands.
If a vehicle needs a tire, Goodyear is the one to manufacture it. The company boasts that it makes tires for every vehicle, from industrial, farming, and mining equipment, to aircraft, buses, trucks and cars.
In addition to manufacturing tires, Goodyear also operates 950 retail outlets globally.
And while car sales may ebb and flow with the economy, tires need to be replaced or repaired far more often. That gives Goodyear strong earnings power over time.
Goodyear is having a mixed year operationally, with earnings up, but below analyst expectations. Goodyear continues to benefit from working to reduce its capital expenditures, which should lower costs and increase profitability.
With Goodyear focusing on improved profits, and looking forward to the auto market improving as interest rates come down, Goodyear could become a surprise winner for investors in the quarters ahead.