2 Stocks Under $10 That Are Preparing for Huge Profits
Big percentage gains allow investors to cash in on stocks, and if a stock is under $10, investors can buy a lot more shares and profit as a result. The issue with stocks below this threshold is that they’re often companies that: haven’t proven themselves in the industry, carry high risk, or have been out of favor in recent quarters.
Two stocks that are priced under $10 and showing positive movement with the potential for huge profits are:
1. Chimerix (CMRX)
Chimerix is a biopharmaceutical company that is priced under $4, but has a 52-week high of $58.04. The company’s stock was up over 7% on Tuesday. Chimerix’s shares virtually collapsed at the end of 2015, losing over 80% of its value overnight.
Late-stage studies into the company’s CMX001 proved to be a failure, which is the key factor behind the company’s stock slumping.
The stock roared back in April, rising 14.3%, with virtually no news to back the rise. The company does have a bright future, with AdVise going to be reviewed before the company submits the drug for review. The company has also been working on CMX001, with a new formula that is planned for clinical studies.
2. J.C. Penney (JCP)
J.C. penny was one of the largest department stores in the United States, but the company’s stock has slumped in recent years. The company’s 52-week range is between $6 and $11.99, with shares up 3% to $8.69 on Tuesday.
The company took measures last Friday to refinance $2.25 billion in debt form 2013, which was finalized. Annual interest expenditures are expected to fall by $24 million as a result.
Refinancing shows that the company has taken to safe route to reduce financial risk. In 2013, the company had $5.6 billion in debt, which has now been reduced to $4.7 billion as of the last quarter.
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