3 Excellent Stocks Under $10

In theory, a stock’s price is not that important. It’s true that the stock’s price depends (to a degree) on the company’s performance, its value correlates with both the company’s success and the number of issued shares. Because of the second factor, a big and successful company’s shares can have a lower price.

There’s something compelling about collecting cheaper shares. First of all, it’s easier to buy a round-number lot when it doesn’t break the bank. Secondly, there’s actually evidence that such shares have a tendency to perform better than their higher-priced counterparts.

So, check out these great stocks under $10 worth of adding to your portfolio!

Sirius XM Holdings

In our age of mobile internet, it’s honestly quite amazing that this hardware-specific satellite radio business based on subscription can do well. But it’s true! Sirius XM Holdings (NASDAQ:SIRI) is a good example of that. Last year the company added about a million new paying members, bringing the total subscriber number close to 30 million.

We should admit, however, that the growth pace is rather slow. As Rick Munarriz has pointed out, the 2020’s revenue is expected to grow by 4%, and that’s not a lot. Each year the satellite radio business is closer to reaching its full potential in the total addressable market. But Sirius XM is working on its plan-B, the company has acquired Simplecast to enhance the monetization of its already existing podcast business.

But this is what can be compensated by Sirius XM’s consistency. The customers are devoted not only to the commercial-free radio but to the people hosting their favorite programs. Sirius XM also gives access to some exclusive sports events and programs that aren’t available otherwise.

Nokia

You probably think that Nokia (NYSE:NOK) is just a mobile phone maker, which is true to a degree (it sold a big part of its smartphone division to Microsoft in 2013). That’s why phone production is less and less of a priority for Nokia. The next big thing for the company is 5G – the technology that will be appreciated by the investors soon.

Its potential might be less than other companies’ (like Ericsson or Qualcomm), but it has its victories, too. In June, for example, it announced that China Unicom (NYSE:CHU) had tapped Nokia to provide about one-tenth of the tech for the 5G network. At the same time, the company became the leader in wireless broadband technology in the production of 1 GB wireless broadband speeds in the U.S. using C-band frequencies. This hadn’t previously been available to mobile network operators as well as manufacturers.  This is very important considering the fact that American radio waves have gotten very crowded.

It will probably take quite some time before the company reaches incredible highs, given that the shares are just $5, it may well be worth waiting.

Plug Power

Plug Power (NASDAQ:PLUG) is another promising stock under $10. The number of households familiar with this company is increasing, just like its revenue.

The reason for this growth is the fact that the public interest in what the company is doing is on the rise. Plug Power’s technology converts hydrogen into electricity, which makes for both backup power systems, and also as a viable primary option for electricity generation. In 2019, the company’s top line increased by nearly 40%.

But the best part of the investment in Plug power is how fast it’s approaching financial viability. With the present momentum, the company is likely to swing to a profit in 2023.

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