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When I look at the Top 100 on Robinhood every few days, I don't see much original thought.
Everyone is buying or trading the same collection of mature tech companies and old-line blue chips with some cannabis and coronavirus longshots thrown into the mix.
But there are great investing opportunities out there that aren't $200, $100, or even $50 per share. That's why we're going to show you the best stocks under $10 on Robinhood right now.
If you're new to investing on Robinhood, here's a little secret. You won't get rich trading or owning the same stocks everyone else is buying.
If you are going to jump on Robinhood stocks, let's do it right. Let's look for stocks that can ride massive demographic, economic, and social trends to potentially life-changing profits. Let's increase our odds by discovering the fast-growing companies before Wall Street finds out about them. We want to find these potential huge winners while they're still trading in the single digits with long runways ahead.
Here are five stocks you can buy commission-free on Robinhood to help you get started buying undiscovered companies with powerful growth potential.
Sequans Communications S.A. (NASDAQ: SQNS) is a leading developer and provider of 5G and 4G chips and Internet of Things device modules. The company is based in Paris, with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Taiwan, South Korea, and China.
Sequans reported earnings this week, and it was a great report. Revenue was $12.2 million, an increase of 39.4% compared to the first quarter of 2020 and a rise of 54.6% compared to the second quarter of 2019. COVID-19 boosted earnings for this company as they helped fill the demand for portable routers needed to deal with the pandemic.
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Sequans said they are targeting sequential increases in revenue of at least 10% for the third quarter of 2020. This would mean that revenue in the first nine months of 2020 would be higher than the revenue for all of 2019.
Sequans should be able to ride the global tide of the IoT and 5G to massive gains over the next several years. The stock trades for $6.36 right now. But the only brokerage firm to follow this stock expects it to rise by about 70% over the next 12 months in the shorter term.
ClearPoint Neuro Inc. (NASDAQ: CLPT) operates as a medical device company primarily in the United States. The company currently has two product platforms. Its ClearPoint system is already in commercial use. ClearPoint is used to perform minimally invasive surgical procedures in the brain.
The ClearTrace system is still in development. When finished and approved, it will be used to perform minimally invasive surgical procedures in the heart. Both systems utilize intra-procedural magnetic resonance imaging to guide the procedures.
ClearPoint has a license agreement with Johns Hopkins that gives them exclusive access to many technologies owned by Johns Hopkins relating to devices, systems, and methods for performing MRI-guided interventions. They also have a development agreement with the Mayo Clinic to design and develop MRI-guided therapies for stroke.
The potential treatment possibilities using their technology for patients with neural disorders such as Parkinson disease, epilepsy, and ALS (Lou Gehrig syndrome) could be a multi-billion-dollar market. This gives ClearPoint Neuro the potential for incredible long-term growth that is potentially life-altering for early investors.
Over the next year, the stock could gain 50% from today's $4.54 as investors become aware of its potential.
Yamana Gold Inc. (NYSE: AUY) is a gold and silver miner that owns the Cerro Moro mine in Argentina, the Canadian Malartic mine in Canada, the El Penon and Minera Florida mines in Chile, and the Jacobina mine in Brazil. Gold and silver are both on a tear right now as investors become less than enthralled with the state of the world's central bank balance sheets.
Many analysts think this could be the start of a historic bull market in gold and silver. If they are right, then shares of Yamana Gold could easily triple or better from the current price levels.
If they are wrong, this is a fast-growing miner that is using cash flows to pay down debt. That combination should also create the possibility of substantial profits for investors who take advantage of today's low price for the shares.
Right now, you can pick them up for $6.45.
Cross Country Healthcare
Cross Country Healthcare Inc. (NASDAQ: CCRN) offers nurse and allied health staffing, physician staffing, and search. Their services include temporary and permanent placement of travel nurses, branch-based local nurses, short-term staffing of registered nurses, practitioners, pharmacists, and other allied health professionals on per diem and short-term assignments. They also provide similar services for facilities needing physicians.
The company's search portion offers retained and contingent search services for physicians, executives, and other healthcare professionals.
Cross Country Healthcare has been very active in delivering critical staff to many healthcare systems around the nation that have seen a swell of COVID-19 cases. In the second quarter, they have staffed more than 1,000 healthcare professionals on COVID-19--related assignments.
Skilled medical professionals are almost always in short supply around the United States. There are always sign-up bonuses for nurses and doctors who come to work at different facilities. The medial staffing shortage may be even greater post-pandemic. Many skilled nurses and doctors will carefully consider their career options after spending months of the front lines of the COVID-19 outbreak.
That will dramatically increase the demand for Cross Country Healthcare's services. The forecasted growth rates for Cross Country Healthcare could take the stock three to four times higher than the current stock price.
The people running Cross Country also have enormous expectations for the business and the stock. Insiders, including the CEO and CFO, have been huge buyers of the stock since the pandemic began to impact the economy.
You can pick up shares today for $6.70. The average analyst target is around $8.92, a solid 33% pop. But some analysts think it could hit $17 over 12 months, which would be a 153% increase.
Sharps Compliance Corp. (NASDAQ: SMED) provides medical, pharmaceutical, and hazardous waste management services. They are one of just two publicly traded companies that provide this type of hazardous waste management in the United States.
Sharps will see a significant increase in business due to the coronavirus as more medical waste will need to be collected, treated, and disposed of properly.
Sharps also expects to see above-average collection rates because of increased flu shot demand this fall. The development of a COVID-19 vaccine would also create an enormous spike in demand for Sharps collection services.
Demand was going to grow even without a pandemic. We are aging as a society, and that creates demand for medical services. Increased demand for medical services increases medical waste. That means more business and more profits for Sharps Compliance. That type of growth should lead to considerable increases in profits that can drive the stock price well above today's price.
The one analyst who follows the stock thinks the price can increase by at least 50% over the next year. Over the next several years, Sharps could see gains of three times or more over the current price. The stock currently trades at $7.73.
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.