3 Canadian Stocks Under $10 to Buy Now

From tech to cryptocurrency, these Canadian stocks are going through a pullback that you’ll want to get in on before it’s gone forever!

| More on:
value for money

Image source: Getty Images

The TSX may be trading at all-time highs, but that doesn’t mean there aren’t opportunities to be had. The trick is to find opportunities where there are Canadian stocks you can buy now and see returns build for decades. Maybe it’ll be with the tech pullback, or maybe with cryptocurrency, or how about renewable energy? Why not all three?

Here are three of the best Canadian stocks you can buy today under $10 that hit all the markers.

Top tech Canadian stocks

Most of the tech stocks hitting headlines are trading well above $10 per share. However, not all of them trade on the high end. One of my favourite tech stocks to buy today is WELL Health Technologies (TSX:WELL). The telehealth company currently trades at $7.60 and has a strong future ahead.

The company operates in the telehealth business and continues to expand. Most recently, it acquired a business in the United States, adding to its already increasing revenue. This Canadian stock has been acquiring businesses constantly, offering investors a strong opportunity for quick growth in a tech rebound, along with long-term growth as more revenue comes in.

WELL stock is up 307% over the last year and a whopping 4,783% since it came on the market. Investors are likely to continue seeing similar returns, especially while holding this cheap stock for decades.

A top cryptocurrency Canadian stock

If you’re wanting to get in on cryptocurrency but want to stay Canadian and keep the price down, then you should definitely consider HIVE Blockchain Technologies (TSXV:HIVE).

HEXO stock is a Canadian miner and seller of cryptocurrency. The $2 billion company is still incredibly cheap at the price of $3.85 per share, but don’t let that price fool you. The stock is up 1,140% in the last year, yet down 48% from the pullback in cryptocurrency and tech stocks.

That pullback seems to already be on the rebound, with a recovery under way with demand for cryptocurrency. Yet this stock is still undervalued because of the drop in share price and future potential for growth. That makes it a very rare case of being a value stock in a sea of overvalued cryptocurrency stocks and one of the top Canadian stocks to buy today.

A high-potential energy stock

True, there is a rebound in the oil and gas sector. However, if you’re a long-term investor, then you’ll want to use today’s clean energy pullback to your advantage. One of the best Canadian stocks to consider in this case is Just Energy Group (TSX:JE)(NYSE:JE), which trades at about $5 as of writing.

The $236 million company offers electricity and natural gas in the United States, Canada, and around the world. It operates mainly in commercial and consumer segments, providing steady revenue for investors. With the world shifting towards clean energy more and more, with trillions in investment set out for the next decade, now is the time to get in on clean energy stocks like Just Energy.

Shares are incredibly low given the company’s stable business model, providing long-term investors with a solid opportunity to make a lot of money in the next few years. There could be some volatility in the short term, as the company wades through possible securities fraud. Shares dropped about 30% at the news, but have since climbed back up. So, if this is a buy today, you’ll want to make sure you’re in for the long haul and maybe start with a smaller stake.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe owns shares of WELL Health Technologies.

More on Energy Stocks

The sun sets behind a high voltage telecom tower.
Energy Stocks

2 Utilities Stocks With Sought-After Stability

Here's why Fortis and Hydro One are two top utilities stocks long-term investors may want to consider right now.

Read more »

Choose a path
Energy Stocks

Algonquin Power Stock: A Smart Investment or a Value Trap?

Does APQ stock have more surprises for investors like last year?

Read more »

Oil pumps against sunset
Energy Stocks

Canadian Energy Stocks: Here’s Your Best Bet in February 2023

Want to bet on energy stocks in 2023? Try this Canadian stock for solid income and growth.

Read more »

a person watches a downward arrow crash through the floor
Energy Stocks

Why ARC Resources Stock Plunged 17% in January 2023

Should you buy ARC Resources stock now?

Read more »

oil tank at night
Energy Stocks

Is CNQ Stock a Buy in February 2023?

Canadian Natural Resources stock has many things going for it, including its strong dividend history, as well as cash flow…

Read more »

tsx today
Energy Stocks

TSX Today: What to Watch for in Stocks on Thursday, February 2

More corporate earnings reports could give further direction to TSX stocks today.

Read more »

oil and gas pipeline
Energy Stocks

Better Buy: Suncor Stock or Enbridge?

Amid the favourable environment, would you be better off investing in ENB or SU energy stock right now?

Read more »

Electric car being charged
Energy Stocks

Your Play to Get in on the 2023 EV Boom

Here's why Magna International may be the best way for Canadian investors to ride the EV boom.

Read more »