3 Beaten-Down Stocks Under $10 to Buy in November
These three beaten-down growth stocks could be hiding the market's biggest opportunities.
Three stocks trading under $10 each have caught the attention of savvy investors amid recent market turbulence. Archer Aviation (ACHR), Joby Aviation (JOBY), and USA Rare Earth (USAR) are three such companies that could be worth further investigation.
Archer Aviation is at the forefront of developing electric air taxis, known as eVTOLs. The company recently secured FAA authorization to start piloted demonstrations of its Midnight aircraft in Los Angeles, which will serve as the official air taxi provider for the 2028 Olympics. Archer has also acquired three of Boeing's subsidiaries, some of which generate over $200 million annually in revenue.
Despite significant losses, Archer Aviation is making strides in its eVTOL technology and gaining valuable assets through acquisitions.
Joby Aviation, another electric air taxi company, is farther along in the FAA certification process than Archer. Joby already operates an urban transportation business, having acquired Blade Air Mobility's passenger service in New York City, which brings in approximately $55 million in revenue. The company's revenue outlook has been raised to between $135 million and $140 million for the full year.
However, Joby's valuation might be a concern, trading at around 42 times trailing revenue, which is significantly higher than industry averages.
USA Rare Earth (USAR) is a rare earth mining company working to create an integrated mine-to-magnet business. Their goal is to mine, refine, and convert rare earth metals into powerful magnets used in various technologies, including fighter jets, laptops, electric vehicles, and industrial robots. The company has acquired a Brazilian mine, Serra Verde, which is already generating revenue from rare earth metals production.
This move is crucial as USA Rare Earth transitions from mining to magnet manufacturing. The company's progress includes its first commercial sale from its magnet manufacturing facility in Oklahoma. While USA Rare Earth still has a long way to go, it is making significant progress toward developing a valuable business in the years ahead.
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