If you really want to become a better investor then you need to be looking at where the smart money is heading. You need to understand what is truly driving the markets and how you can take advantage of these moves as – and before – they hit the mainstream.
That’s how the long-term wealth can be found.
One of the best ways to spot some of those very opportunities is with inexpensive stocks under $10 that are still flying well under the radar. In fact, spot one and it may just lead to your next double, triple, or even quadruple digit opportunity.
Some of the top stocks trading under $10 to buy right now include:
Opportunity No. 1 – Bit Digital (BTBT)
Cryptocurrencies have seen better days.
Look at Bitcoin, for example. After testing $68,978, it crashed to a low of $32,990.
All because of a few negative catalysts.
For one, the Federal Reserve indicated that inflation and tight labor conditions could warrant interest rate hikes at a faster pace than expected. Two, the Bank of Russia says the country needs to ban cryptocurrencies. Three, retail investors are running scared.
However, don’t write off digital currencies just yet.
Experts still believe Bitcoin could challenge $100,000. Goldman Sachs, for example, says it could more than double to $100,000 in the next five years.
That could also benefit cryptocurrency mining stocks, like Bit Digital (BTBT) – which move along with the price of Bitcoin.
After bottoming out around 38 cents in early 2020, the BTBT stock ran to a high of $33 before sliding to $3.53 on a Bitcoin pullback.
For its third quarter, the company noted:
- Revenue from bitcoin mining was $10.4 million.
- We earned 248.4 bitcoins. The decrease from 562.9 earned during the second quarter was due to miner migration and fleet reposition.
- We had no miners remaining in China. 100% of our miner fleet was deployed, in transit to, or awaiting installation in North America at September 30, 2021.
- We owned 27,744 miners including 851 miners acquired in the third quarter of 2021.
- Non-GAAP income from operations* was $4.8 million, or $0.09 per ordinary share.
- Non-GAAP net income was $4.0 million, or $0.07 per ordinary share.
Opportunity No. 2 — Standard Lithium (SLI)
Weakness may be an opportunity with Standard Lithium.
While the stock was bashed by a short-seller report in February 2022, don’t write off the stock just yet. For one, the company fought back against the allegation, and two, the lithium story isn’t cooling off. At least, not any time soon.
Remember, countries all over the world want a greener future, and millions of emission free electric vehicles on the roads. Even major automakers are adopting EV models, replacing fleets of gas guzzling autos. But for that to happen, we need lithium.
A lot of lithium. There’s just one tiny problem. We don’t have enough supply.
Even the International Energy Agency is warning that the, “The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met.”
Fortunately, that’s where companies like Standard Lithium (SLI) may be able to help.
At the moment, the company is focused on its 3,140,000 tonne LCE Indicated Resource -150,000-acre joint venture Lanxess Project, located in south Arkansas.
In addition, according to CEO Robert Mintak’s interview with CNBC’s Jim Cramer, its Lanxess Project in Arkansas is well positioned to serve the U.S. EV market, and could help facilitate exports to Europe as well. Also, its project is located in the Smackover brine region of Arkansas – which is known to hold some of the richest lithium resources.
Opportunity No. 3 – EVgo Inc. (EVGO)
EVGO is a fast charging network for electric vehicles.
With more than 800 fast charging spots, its network services more than 68 metropolitan areas across 35 states and more than 300,000 customer accounts. Plus, according to Tip Ranks, more than 130 million people (39% of population) live within 10 miles of an EVGO charging station.
While it’s been beaten down in recent months to less than $10, don’t count it out just yet.
There’s still plenty of rev left in EVGO’s engine.
For example, in its most recent quarter, the company nearly doubled its deployments quarter over quarter with 104 new charging stations now operational, as noted in an investor deck. It also has 2,067 in its “Active Engineering & Construction Pipeline.” Once those 2,067 stations are up and running, it could provide a massive revenue boost.
Two, by 2040, the company expects for nearly 28% of all U.S. vehicles to be battery electric, which could provide massive growth opportunities, as well. Three, EVGO is guiding for $54 million, with its sights set on $596 million by 2025.
By 2027, EVGO sees revenue as high as $1.289 billion.
EVGO also announced that its customer accounts crossed the 300,000 mark.
“With EV sales increasing rapidly across the US, drivers are looking for charging locations that fit neatly into their lifestyles. EVgo is that brand – and the 300,000-customer account milestone demonstrates it,” said Cathy Zoi, CEO of EVgo, as quoted in a company press release.
Analysts appear to like the stock just as much. In fact, Credit Suisse recently initiated coverage of EVGO with a buy rating and an $11 price target. They believe EVGO is a “market leader,” as noted by MarketWatch.com. All as it continues to benefit from EV adoption and incentives.
That, and it doesn’t hurt that General Motors named EVGO a preferred provider for its Ultium Charge 360 fleet service. All as General Motors get underway with plans to spend $35 billion on EVs and AVs through 2025.
Opportunity No. 4 – Energy Fuels Inc. (UUUU)
Right now, uranium is trading near all-time lows – but that may not be the case for long.
For one, China, India, Russia, and the United States are making big nuclear investments. Two, the world is running into a severe supply-demand issue.
In fact, according to Cameco President and CEO Tim Gitzel, as quoted by World Nuclear News, “Increasing demand for nuclear means increasing demand for uranium, which brings us to the second factor that is driving our growing optimism – demand for uranium is rising at precisely the same time that supply is becoming less certain. We know that utilities have not been replacing what they consume annually under long-term contracts. This has led to a growing wedge of uncovered uranium requirements.”
“The world needs to discover, develop, commission about six McArthur Rivers or Cigar Lakes in the next 15 years. Given the timelines it takes, we should be investing now,” he added.
That could be very beneficial for stocks like Energy Fuels Inc. (UUUU).
Opportunity No. 5—Ballard Power Systems (BLDP)
Goldman Sachs called hydrogen a “once in a lifetime opportunity,” adding, the addressable market could be worth up to $11.7 trillion in the next 30 years.
Analysts at Bank of America says green hydrogen could be worth more than $11 trillion by 2050. The firm compared green hydrogen to smartphones pre-2007 and the Internet prior to the dot-com boom, as also highlighted by CNBC.
In addition, major automakers are looking to build hydrogen models, according to Reuters.
BMW for example is planning a model, and has built a hydrogen car prototype. Even Volkswagen’s Audi brand says its researching hydrogen technology.
One of the top stocks that could benefit from all of that is Ballard Power Systems.
While the stock is down at the moment, don’t write it off just yet. As the hydrogen market grows, it should benefit the company.