Canadian growth stocks remain on the minds of Motley Fool investors. We saw some serious growth back in 2020. But even though it’s harder to find on the TSX today, it doesn’t mean it’s not there. In fact, there are still some popular Canadian stocks that remain undervalued. Even under $10! So here I’m going to cover four that investors may want to consider.
It’s a volatile time for cryptocurrency. That’s why if you’re going to get involved, I wouldn’t buy cryptocurrency direct. Instead, I would invest in a company like HIVE Blockchain Technologies (TSXV:HIVE). HIVE stock mines for cryptocurrency, no matter the type, so as long as cryptocurrency is in use the company will be bringing in revenue among Canadian stocks.
What’s more, finding a way to mine cryptocurrency using clean energy is the next phase, and HIVE stock is already there. It powers data farms using renewable energy, so will be a top choice when governments come around to cryptocurrency as well. Shares of HIVE stock are up 514% in the last year alone but have experienced a pullback from the cryptocurrency volatility. So now is a great time to jump in at a 56% discount!
Make it medical
Virtual healthcare is here to stay. However, there are many companies that try to get their hand in every type of medical profession. Those that focus on one area then are due to climb, and that includes LifeSpeak (TSX:LSPK). LifeSpeak just came on the market with Canadian stocks earlier this month focusing on mental health and wellness.
While other areas of healthcare have seen growth in virtual healthcare, mental health remains lagging according to analysts. Plus, LifeSpeak has already crossed multiple regulatory barriers to allow for global access. Some analysts believe the stock could climb at a compound annual growth rate (CAGR) of 61% over the next five years! That makes it’s super undervalued at just $8.40 per share.
We’ll all need storage eventually, which is why StorageVault Canada (TSXV:SVI) is the perfect addition to any portfolio. But especially today. The company continues to add on multiple new locations to its already large storage portfolio. It’s also invested in digital growth, creating even more opportunities to add customers. This comes as small- and medium-sized businesses need a place to store products before shipping them to clients.
Shares of StorageVault on the TSX today are up 51% in the last year alone but are still trading at just $4.84. Analysts believe the stock should climb at least another 10% in the next year alone. So that makes it the perfect addition to any portfolio with Canadian stocks as it continues its steady climb.
Everyone has been waiting to see when drone delivery might come to Canada. Well, Motley Fool investors may not have to wait much longer. These Canadian stocks should see massive growth in the years to come, and one is Drone Delivery Canada (TSXV:FLT). The $315 million company remains trading at just $1.41 as of writing. Shares have grown 75% in the last year alone, and 20% in the last month!
Cargo delivery through drones is definitely the future, creating a safer and faster way of getting into e-commerce. Analysts believe there is at least another 27% in potential upside during the next year. Therefore, given the cheap share price, Motley Fool investors looking for cheap Canadian stocks on the TSX today can afford to add even just a few of these shares to their portfolio.
The post 4 Undervalued Canadian Stocks Still Trading Under $10 appeared first on The Motley Fool Canada.
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Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.