Snapchat Maker Highlights 5 Stocks 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.
Skeptics of low-priced shares should remember that at one point Amazon, Apple and Netflix traded in the single digits. One stock we featured over the years, Zynga, was purchased by Take-Two Interactive. Cogent Biosciences, which we featured last March, has tripled since then.
We screened our 24/7 Wall St. research database looking for smaller cap companies that could offer patient investors some huge returns for 2023 and beyond. While these five stocks are rated Buy and have a ton of Wall Street coverage, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
While somewhat off the radar, this company provides products to the 18 million health care workers in the United States. Figs Inc. (NYSE: FIGS) operates as a direct-to-consumer health care apparel and lifestyle company in the United States. It designs and sells scrubwear and other offerings, such as lab coats, under scrubs, outerwear, loungewear, compression socks and other lifestyle apparel.
The company also offers sports bras, performance leggings, super-soft Pima cotton tops, vests, fleeces, and jackets. Its necessities include face masks, scrub caps, lanyards, badge reels, tote bags, baseball caps and beanies. The company markets and sells its products through its digital platform, including a website and mobile app.
The stock roared higher on Friday after posting results for the first quarter that blew away expectations.
Telsey Advisory has an $11 target price on the shares. The consensus target is just $8.48, and shares traded on Friday at $7.80.
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