5 Stocks Under $10 Set to Soar
Just take a look at some of the hot movers in the under-$10 complex from Wednesday, including Novacopper
One low-priced stock that I recently flagged that went on to soar higher was Catalyst Pharmaceutical Partners
Guess what happened? Shares of CPRX did trigger that breakout with monster volume, and the stock ripped higher from Friday's low of $1.36 to yesterday's high of $1.79 a share. Shares of CPRX still look technically bullish and poised for higher prices. This stock is now trading within range of its 52-week high of $1.90 a share. If we see CPRX blast above $1.90 soon, then it has a great chance of re-testing and possibly taking out its 2011 high of $2.25 a share.
I'm not as eager to recommend investing long term in stocks that trade less than $10 a share because these names can be very speculative, and the odds for picking the long-term winners aren't great. But I definitely love to trade stocks that are priced below $10. I like to view them as a trading vehicle with lots of volatility and lots of upside when the trade is timed right.