In the intricate tapestry of the investment world, one thread that consistently gauges the interest of analysts and investors alike is stocks that billionaires are buying. There’s an undeniable allure in understanding the rationale behind the wealthy setting their sights on stocks to buy under $10. Perhaps it’s the promise of untapped potential, its research, coveted insider whispers or strategic alignments.
When financial titans toss their chips into the game, it’s not just about money; it’s a nod to a company’s long-term prospects. Moreover, these endorsements inevitably send ripples of confidence through the investor community. Having sculpted their empires on astute market maneuvers, these billionaires access top-tier financial insights, avoiding wild gambles. Here are three stocks to buy under $10 backed by recent investments from Jefferies Group, Steven Cohen, HOTCHKIS & WILEY, Arnold Van Den Berg and Jim Simmons.
Stocks to Buy Under $10: Baytex Energy (BTE)
In the ever-evolving sands of the energy sphere, companies that can effectively navigate the highs and lows find themselves basking in long-term success. One such giant in space is Baytex Energy (NYSE:BTE). With an innate knack for tapping into low-cost production for a premium product, this company has efficiently turned the tables on heavy oil, flipping it from a potential liability during market downturns to a veritable gift during prosperous periods.
Aiming to shed dependence on its foundational heavy oil business and the potential cost-effectiveness of acquisitions over organic growth, Baytex secured a jackpot by purchasing Ranger Oil. This strategic masterpiece acquisition catapulted the company into a dominant position in the Eagle Ford, supplementing its longstanding partnership with Marathon Oil (NYSE:MRO).
In essence, Baytex Energy is reborn. The acquisition of Ranger Oil has metamorphosed its identity, infusing it with a fresh dynamism and control over Eagle Ford’s production. The market’s gaze will shift, potentially placing a larger valuation tag on the firm.
In the rapidly evolving insurtech landscape, EverQuote (NASDAQ:EVER) is making major strides. Once tethered to the volatile realm of auto insurance, the firm embraces not the expansive home insurance sector but health and more. This diversification, guided by the steady hand of Chief Executive Officer (CEO) Jayme Mendal, not only promises stability but is inching the firm tantalizingly close to operating breakeven.
EverQuote, is also harnessing the prowess of AI and machine learning. The goal is to amplify productivity and spearhead groundbreaking innovations effectively. And if the numbers are any testament, the future looks remarkably bright for the firm ahead. Despite a few revenue hiccups, the firm boasts a steadfast gross profit margin and a remarkable dip in general and administrative expenses. As Grand View Research, the global Insurtech sphere is poised to skyrocket 52.7% from 2022 to 2030, worth $152.4 billion.
Bragg Gaming Group (BRAG)
In the bustling realm of online gaming, Bragg Gaming Group (NASDAQ:BRAG) emerges as a titan, with a vast arsenal of over 5,000 casino game titles in its repertoire. This isn’t merely a collection amassed from across the globe; Bragg’s in-house talent crafted a major chunk meticulously. Bragg is a trendsetter in the space, offering a seamless blend of B2B online gaming technology and casino content aggregation.
The financial trajectory paints an equally impressive picture. Second quarter results evoked more than just a nod of approval from the market, with a robust revenue bump of 19% year-over-year, clocking in at a spectacular 24.7 million EUR. The numbers speak for themselves: a splendid gross profit surge of 18.9% to 13.8 million EUR and an Adjusted EBITDA bump of 51.3% to 4.7 million EUR. With reinvigorated guidance pointing to revenue growth of around 13% for the full year 2023, Bragg Gaming looks primed for a momentous leap, potentially posting a positive quarterly net income by year’s end.
On the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.