10 Stocks Under $10 With High Potential

4. VinFast Auto Ltd. (NASDAQ:VFS)

Share Price: $3.82

Analyst Upside Potential: 83.25% 

VinFast Auto Ltd. (NASDAQ:VFS) is an automotive company based in Vietnam. It focuses on manufacturing electric vehicles (EVs), e-scooters, and e-buses. The company has developed a diverse portfolio of electric vehicles with VF e34, VF 8, VF 9, and other models, each offering different features and capabilities.

The progress made by the company is evident from a stark increase in EV deliveries during the second quarter of 2024. The company delivered 13,172 vehicles during the quarter, which was up 44% year-over-year. Moreover, its E-scooter deliveries were also impressive at 13,076 indicating a 67% increase from the first quarter and a 28% increase year-over-year.

VinFast Auto Ltd. (NASDAQ:VFS) aims to deliver more than 80,000 electric vehicles during the year, the goal represents a significant increase from 2023 figures.

The strong quarterly performance backed with the ambitious goal of achieving more sales during the year makes VFS one of the best stocks under $10 with high potential.

Management has been taking significant measures to ensure the expanding reach of the company. On September, 17 it announced the launching of the VF 3 electric vehicles in the Philippines. Moreover, earlier the company had announced the launch of its VF e34 model in Indonesia as well. In the Middle East, it has signed a dealership agreement with Al Mana Holding to capture the Qatar market as well.

These partnerships make it evident that the company will have a strong international presence in the future making it a compelling investment opportunity.