We've had a great summer buying up my "cheap stock" picks, with gains like 16% on LYSCF - a stock we owned at $4.25 a share. It doesn't even have to reach 10 bucks, and we'll have doubled our money, with plenty of upside potential left.
Today's recommendation could do even better. It's a stock in a sector that's red-hot, and in more ways than one, I'd add: steel.
The entire world's economy is in the process of bouncing back, albeit unevenly, from the COVID-19-powered haymaker it took in spring 2020, and steel - which plays a part in any recovery - is seeing demand at multi-year highs. That's one of the reasons why the SLX, the VanEck Vectors Steel ETF, is up nearly 40% year to date.
Of course, SLX will set you back nearly $64 a share today, but the stock I've picked out for us today costs nine times less.
More than that, steel and metal demand in this company's own backyard is seeing double-digit gains this year, so it's in the perfect position to cash in.
Now you are, too...
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You can get even more profit potential for stocks that currently trade for even less. I'm talking about stocks that can go for $3 or $4 each sometimes - part of a rare class of stocks that are producing the market's biggest gains right now. In fact, the top performers here have seen an exceptional 2,953%... 4,801%... 12,754%... even 22,207% in less than a year. I can show you more about those right here...
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