3 Canadian Stocks to Buy Now Under $10 Each!

These three stocks all provide significant sources of returns and trade below $10 per share as of writing!

| More on:
Dollar symbol and Canadian flag on keyboard

Image source: Getty Images

In the world of finance, the allure of cheap stocks is undeniable. Investors often find themselves drawn to stocks that trade at lower prices, hoping for a turnaround that will deliver significant returns. In this article, we’ll explore three Canadian stocks trading under $10 each that have the potential for a bright future based on their recent earnings and growth prospects.

Well Health stock

Well Health Technologies (TSX:WELL), a leading player in the healthcare tech sector, experienced a rollercoaster ride in its share price. It soared, only to experience a downturn. Let’s delve deeper into why this stock is worth considering.

Hamed Shahbazi, founder and chief executive officer of WELL, remarked on the company’s impressive performance: “We had a great quarter; our record revenue, adjusted EBITDA [earnings before interest, taxes, depreciation, and amortization], and patient visits are a testament to the company’s continued focus on tech-enabling healthcare providers.” With over 3,200 providers and clinicians and more than one million quarterly patient visits, WELL stock has demonstrated exceptional growth.

Furthermore, WELL stock is venturing into the realm of artificial intelligence (AI) with initiatives like WELL AI Voice and the WELL AI Investment Program. These investments in AI-enabled disease detection and clinical decision support tools are set to revolutionize healthcare practices, improve clinic productivity, and enhance patient outcomes.

The future looks bright for WELL stock, making it an attractive option for patient investors looking to capitalize on the convergence of technology and healthcare.

NorthWest REIT

NorthWest Healthcare Properties REIT (TSX:NWH.UN) experienced a surge in share price followed by a dip. But there’s more to the story. This healthcare real estate investment trust (REIT) has promising fundamentals.

For the three and six months ending in June 2023, the REIT witnessed impressive revenue growth of 13% and 16.6%, respectively. While adjusted funds from operations (AFFO) per unit decreased slightly due to lower management fees and increased interest expenses, when adjusting for non-recurring components, AFFO increased to $0.15 per unit for the quarter.

Operationally, the REIT boasts a high-quality and defensive portfolio, delivering a robust 5.1% year-over-year same-property net operating income growth. With a portfolio occupancy rate of 96% and a weighted average lease expiry of 13.5 years, NorthWest Healthcare Properties REIT’s cash flow is diversified across its 231 properties.

With these strong fundamentals and a resilient portfolio, NorthWest Healthcare Properties REIT presents an attractive opportunity for investors looking for stability and growth in the healthcare real estate sector.


Extendicare (TSX:EXE), a prominent player in the senior living sector, also had its share of ups and downs in the stock market. However, a closer look at its recent earnings reveals a promising outlook for patient investors.

In the second quarter (Q2) of 2023, Extendicare experienced a 4.1% increase in average daily volume (ADV) for home health care, building on its ongoing growth. Long-term-care (LTC) occupancy improved to 97.2%, demonstrating a strong recovery.

While adjusted EBITDA declined slightly due to one-time items in Q2 2022, removing these items showed an increase of $1.2 million. This growth was driven by higher home health care ADV and rate increases, offsetting cost increases in LTC operations and higher administrative costs.

Moreover, Extendicare is investing in the future with the construction of a new 256-bed LTC home in Peterborough, Ontario, signalling its commitment to expanding and enhancing its services.

Extendicare is well positioned to deliver significant returns for patient investors — especially with the aging population and increasing demand for senior living solutions.

Bottom line

Cheap stocks can offer an enticing opportunity for investors seeking growth potential. These three Canadian stocks experienced fluctuations in share prices. Yet their recent earnings and growth prospects suggest that they are worth considering.

As always, it’s essential to conduct thorough research before making any investment decisions. However, these three Canadian stocks under $10 each are certainly worth a closer look in today’s dynamic market.

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 has positions in NorthWest Healthcare Properties Real Estate Investment Trust and Well Health Technologies. The Motley Fool recommends NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool has a disclosure policy.

More on Stocks for Beginners

edit U-turn
Dividend Stocks

Down 11% From its 52-Week High, Can goeasy Stock Turn Things Around?

Investors looking for value should be drooling at goeasy (TSX:GSY) stock. With a higher dividend and more room to run,…

Read more »

Various Canadian dollars in gray pants pocket
Dividend Stocks

3 Stocks Under $50 New Investors Can Confidently Buy

Investors looking for strong stocks can be a bit overwhelmed with options. Which is why today we're looking at these…

Read more »

Happy Retirement” on a road
Dividend Stocks

3 TSX Stocks That Can Turn Retirement Dreams Into Reality

Looking for income that lasts right through retirement? These three TSX stocks are the best to make your retirement dreams…

Read more »

bulb idea thinking
Stocks for Beginners

4 Growth Stocks to Buy and Hold Forever

When it comes to long-term winners, look at these four stocks first and foremost. They provide long-term gains and short-term…

Read more »

Aerial view of a wind farm
Energy Stocks

Is There Any Hope for Brookfield Renewable Stock?

Brookfield Renewable stock (TSX:BEP.UN) may be going through a rough patch, but recent moves suggest more is yet to come.

Read more »

Woman has an idea
Stocks for Beginners

Why Canadian Investors Should Consider Investing in U.S. Stocks

In my opinion, U.S. stocks should be a large component of a Canadian investment portfolio.

Read more »

Hand arranging wood block stacking as step stair with arrow up.
Stocks for Beginners

Is it Safe to Invest With the S&P 500 Hitting Record Highs?

Here's why I personally continue to invest steadily even as the market hits all-time highs.

Read more »

Dial moving from 4G to 5G
Dividend Stocks

This Undervalued Dividend Stock is Worth Buying Right Now

Want an undervalued dividend stock with long-term potential and a juicy yield? Here's an option you may regret not buying…

Read more »