If you’re looking for quality stocks under $10, you’ve got your work cut out for you. The past 12 months have witnessed a massive rally in major stock market indexes, and dirt-cheap stocks are getting harder to find. Many stocks that just a year ago traded for single-digit prices are now $20 or higher. I need only point to the Reddit-loved “meme stocks” as one example. Top Reddit stocks like BlackBerry and AMC both started the year well under $10. Today, BB is at about $13, and AMC is closing in on $40.
In this market, quality stocks under $10 are rare. But they do exist. In this article, I’ll explore three Canadian stocks under $10 that may be worth researching today.
Viemed Healthcare (TSX:VMD)(NASDAQ:VMD) is a Canadian supplier of medical devices. Its stock trades for just $8.85. Viemed provides homecare to chronically ill patients and supplies various forms of medical gear, like ventilators, oxygen masks, and monitoring devices. According to the website, the company focuses on issues like COPD, sleep apnea, and neuromuscular diseases. Canada’s population is aging, so healthcare is only going to grow larger and larger — both in raw terms and as a percentage of GDP. Viemed, as a supplier of healthcare products, could quite possibly grow along with the growth in its industry. It’s definitely a stock worth looking into.
Storage Vault (TSXV:SVI) is a Canadian storage company that leases out storage space to its clients. It is the only publicly listed storage vault company in Canada, and its stock costs just $5.37. Storage is a valuable service that many Canadians use every day, which ensures a steady stream of business for SVI. Its services range from small containers for homeowners to large storage facilities for retailers to store inventory in. Last month, the company purchased two new GTA storage vaults for $8.2 million. Its most recent quarter saw a 22.5% increase in revenue and a 25% increase in net operating income. This is a small-cap stock that has a lot going on. It is definitely worth a look.
Corus Entertainment (TSX:CJR.B) is a TV media conglomerate that owns assets like ShowCase, HGTV, Global News, and The Food Network. Its properties include some of the most popular TV stations in Canada. It also owns some radio assets like Global News Radio and has some streaming and animation software assets.
CJR.B stock has not been a huge winner over the last five years, to put it mildly. The stock has declined 55.7% over that timeframe and is, in fact, down from even its 2000 prices. The internet’s gradual sweep of the media landscape has not been kind to TV and radio companies like Corus Entertainment. But now, with the company investing in streaming services and software, it may finally be ready for a turnaround. This definitely is not a stock to go out and buy right now, but it merits further research. In a best-case scenario, it could have upside.
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 Andrew Button has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Viemed Healthcare Inc. The Motley Fool recommends BlackBerry.