Here at Zacks, our proven stock-picking system does not necessarily consider a stock’s market price. However, we also know that lower-priced stocks can be particularly enticing to many investors.
On top of that, we always strive to cover stocks that are making newsworthy moves, no matter if the company is an S&P 500 giant or a new, small-cap firm.
With that said, many retail investors search for stocks currently trading under the $10 per share threshold, as they can represent the opportunity to grab a substantial position in a company—like a major institutional investor might with a multibillion-dollar firm.
Still, investors should also be aware that stocks trading under $10 are often subject to sizeable one-day swings. This means that these stocks can be some of the biggest movers on any given trading day.
Now, let’s take a look at three companies trading for less than $10 per share that soared today:
Partner Communications Company Ltd. PTNR
Shares of this Israel-based communications provider skyrocketed over 12% on Tuesday after the company released its third-quarter earnings. Partner’s revenues fell slightly year-over-year, but the company reported Q3 profits of $15 million, which marked a 184% jump. The company cut costs by 10%—largely in its cellular network division. Partner also recently moved into the TV sector. Before today’s gains, shares of Partner were up over 8% since the start of the year.
Tuniu Corporation TOUR
This Chinese online travel company—which specializes in packaged and organized tours, as well as self-guided journeys—announced on Nov. 17 that its co-founder and CEO, along with its CFO, resigned from their current positions. The two will remain with the company in smaller capacities.
Tuniu Corporation also announced that it expects to surpass its previous third-quarter sales estimates. On top of that, the company projects it will turn a profit after posting a loss in the year-ago period. Shares of Tuniu jumped over 7% today, as investors seem pleased by the raised guidance and new direction. Tuniu is expected to post its official Q3 results on Nov. 27.
Oclaro, Inc. OCLR
Shares of Oclaro, Inc. popped over 6% on Tuesday. Before today’s surge, the maker of optical components, modules, and subsystems had seen its stock price tumble 22% in the last four weeks. The fact that some members of the company’s upper management are set to present at two upcoming technology conferences, one hosted by Raymond James RJF and the other by Cowen COWN, might have excited Oclaro investors.
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