4 Top Stocks to Buy if You Only Have $10

A $10 investment could grow exponentially with the right investment choice. Today, the OrganiGram stock, NuVista Energy stock, Trican Well stock, and Roots Corp. stock are cheap options with massive growth potentials.

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Investment amounts are relative and usually depend on the individual’s affordability. The more important aspect is the efficiency of your chosen investment in growing your money. You can buy a stock for $10 or less and see your tiny capital grow tenfold. On the TSX, four companies have massive growth opportunities. Your reward could be substantial if you pick one or more today.

Red-hot cannabis stock

OrganiGram Holdings (TSX:OGI)(NASDAQ:OGI) had an explosive start to 2021 and has so far gained 113.61%. The $3.61 price is a good entry point. Also, had you invested $10 at year-end 2020 ($1.69 per share), your money would be $21.36 today.

The $1.08 billion producer and seller of cannabis and cannabis-derived products is relatively new but hopes to capture a significant market share. OrganiGram is preparing for the big push following the appointment of an accomplished executive in the consumer-packaged goods (CPG) industry.

Ms. Beena Goldenberg, the former CEO of Supreme Cannabis and Hain-Celestial Canada, will be the new OGI CEO effective September 9, 2021. Apart from cementing its foothold in Canada, OGI looks to develop international business partnerships to broaden its global footprint.

Top-performing energy stock

NuVista Energy (TSX:NVA) is the top performer in the energy sector, not Enbridge or Pembina Pipeline. The small-cap stock’s year-to-date gain is 258.51%. Analysts forecast the price of $3.37 to climb 55.79% in the next 12 months. The $762.5 million oil and natural gas company operates in the Western Canadian Sedimentary Basin.

NuVista has been around for 18 years, and it explores, develops, and produces oil and natural gas reserves. The name didn’t ring a bell in 2020 because of the impact of the oil price war and the pandemic. This year, however, NuVista is a high flyer with massive growth potentials.

The comeback story of the year

Trican Well Services (TSX:TCW) provides essential services in the oil & gas industry. Besides drilling and reworking of oil wells, the $670 million equipment services company offers cementing solutions. The energy stock displays resiliency (+55.95% year to date), yet the price is absurdly low at $2.62 per share.

Like most companies in the energy sector, Trican lost big time in 2020. Fortunately, the business made a turnaround this year. In the first half of 2021 (six months ended June 30. 2021), revenue grew 9.76% versus the same period last year. Notably, the company reported a net loss of $2.38 million compared to a $182.54 net loss.

Management remains cautious for the rest of 2021, although Trican could still deliver stronger year-over-year results due to steady utilization and fundamentals return to normal.

Big challenge

People who invested $5,000 in Roots Corporation (TSX:ROOT) a year ago are richer by $18,760 today. If you already own the stock, analysts recommend a “hold” rating. They predict the current share price of $3.25 to rise between 37.3% and 84.6% in the next 12 months.

The well-known premium outdoor lifestyle brand lost $7.78 million in Q1 fiscal 2020. However, thanks to the 24.7% increase in revenue, the net loss lessened to $4.9 million in Q1 fiscal 2021 (quarter ended May 1, 2021). However, Roots faces the biggest challenge. Sales will remain weak if the pandemic continues to impact consumer demand.

Return over amount

Mind the returns, not the amount, if you’re starting with small capital. You can accumulate more shares later on as your gains increase over time.

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 Christopher Liew has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Enbridge and OrganiGram Holdings. The Motley Fool recommends PEMBINA PIPELINE CORPORATION.

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