Finding the best cheap stocks to invest in as a beginner investor doesn’t have to be difficult if you’re new to the stock market. If you’re new to the game, you might be wondering, “Can I really get started without breaking the bank?” I’ll show you that you don’t need a fortune to kickstart your investment journey.
Whether you’re a college student, a fresh graduate, or just someone eager to dip their toes into the stock market waters, these 10 affordable stocks are here to prove that small investments can lead to big opportunities.
Best Low-Cost Cheap Stocks for Beginners
My criteria are simple: target cheap stocks under $10 to $20 with 20%+ annual revenue growth, outstanding management teams, and the potential to make you a millionaire in the future.
Here are my favorite cheap stocks for beginners (in no order of preference):
- Lucid Group (NASDAQ: LCID)
- Marathon Digital Holdings (NASDAQ: MARA)
- Grab (NASDAQ: GRAB)
- Robinhood (NASDAQ: HOOD)
- Blade (NASDAQ: BLDE)
- SoFI (NASDAQ: SOFI)
- Joby Aviation (NASDAQ: JOBY)
- NIO (NASDAQ: NIO)
- LyFT (NASDAQ: LYFT)
- Luminar (NASDAQ: LAZR)
Lucid Group (NASDAQ: LCID)
Lucid Group is an electric vehicle (EV) manufacturer known for its luxury electric sedan, the Lucid Air. With a focus on cutting-edge technology and design, Lucid aims to compete with established EV players. The company’s emphasis on long-range capabilities and high-performance features sets it apart in the EV market.
Marathon Digital Holdings (NASDAQ: MARA)
Marathon Digital Holdings is a cryptocurrency mining company that focuses on producing digital assets like Bitcoin. By operating a fleet of specialized mining hardware, the company aims to validate and secure blockchain transactions, contributing to the overall stability of cryptocurrencies.
Grab (NASDAQ: GRAB)
Grab is a Southeast Asian super app offering various services such as ride-hailing, food delivery, and digital payments. Operating across multiple countries, Grab has become an essential part of daily life for millions in the region, providing convenience and accessibility through its integrated platform.
Robinhood (NASDAQ: HOOD)
Robinhood is a popular financial services platform that gained widespread attention for introducing commission-free trading. While democratizing investing for a new generation, it has faced both praise and criticism for its impact on traditional financial systems and the way it engages with retail investors.
Blade (NASDAQ: BLDE)
Blade is a technology-driven urban air mobility company focusing on electric vertical takeoff and landing (eVTOL) aircraft. Seeking to revolutionize urban transportation, Blade aims to create a network of intra-city aerial mobility options, potentially transforming how people navigate densely populated areas.
SoFi (NASDAQ: SOFI)
SoFi, or Social Finance, is a personal finance company that provides various financial products including loans, investments, and banking services. It aims to empower individuals to achieve financial wellness through its technology-driven solutions and community-focused approach.
Joby Aviation (NASDAQ: JOBY)
Joby Aviation is an aerospace company dedicated to the development of electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. With the goal of reducing urban congestion and emissions, Joby’s innovative aircraft design holds the potential to transform short-distance travel.
NIO (NASDAQ: NIO)
NIO is a Chinese electric vehicle manufacturer recognized for its premium electric SUVs. Combining impressive range, advanced technology, and a unique battery swapping system, NIO is at the forefront of China’s burgeoning EV market.
Lyft (NASDAQ: LYFT)
Lyft is a major player in the ride-hailing industry, connecting passengers with drivers through its platform. Operating in multiple countries, Lyft has reshaped urban transportation, offering an alternative to traditional taxis and fostering the growth of the sharing economy.
Luminar (NASDAQ: LAZR)
Luminar is a technology company specializing in lidar systems for autonomous vehicles. Its advanced sensor technology plays a crucial role in enabling self-driving cars to perceive their surroundings, contributing to the development and safety of autonomous transportation systems.