We recently compiled a list of the 10 Best Stocks Under $10 to Buy Now. In this article, we are going to take a look at where Nokia Oyj (NYSE:NOK) stands against the other stocks under $10.
On March 28, Friday, US stocks declined as Wall Street continued to struggle with President Trump’s trade war and signs of rising inflation. The Dow Jones Industrial Average dropped almost 1.7% and the S&P 500 fell nearly 2%. Technology stocks led the losses and as a result, the Nasdaq suffered the most by falling 2.7%.
READ ALSO: 10 Cheap Technology Stocks to Buy According to Hedge Funds and 8 Fastest Growing AI Stocks To Buy Right Now.
This disappointing performance came after the release of a hotter-than-expected reading of the Personal Consumption Expenditures index, which captures inflation across a wide range of consumer expenses and reflects changes in consumer behavior. The report showed that prices rose more than expected in February, increasing 0.4% month-over-month and 2.8% year-over-year. This indicates persistent inflation pressures are standing in the way of the Fed’s 2% target. Additionally, US consumer sentiment fell to its lowest level since November 2022 as the latest reading from the University of Michigan came in at 57, falling from a reading of 64.7 in February.
On Friday, Trump stated that he had a “very good talk” with the new Canadian Prime Minister Mark Carney. With regard to the tariffs, President Trump said he would “absolutely” proceed with tariffs against Canada. Stocks have had a volatile week, starting off strong on hopes that President Trump might soften his tariff plans and then sharply declining on Wednesday following news of new duties on auto imports.
On Thursday, the market continued to decline as Wall Street reacted to Trump’s 25% tariffs on foreign cars and his more hawkish comments about the trade war’s future. April 2 is approaching and broad reciprocal tariffs are set to take effect.
Methodology
To compile our list of the 10 best stocks under $10 to buy now, we used the Finviz stock screener. We sorted our results based on market capitalization and picked the top 20 stocks with a share price of under $10 as of March 27, 2025. Next, we focused on the top 10 stocks most favored by institutional investors. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey’s Q4 2024 database of more than 1,000 elite hedge funds. Finally, the 10 best stocks under $10 to buy now were ranked in ascending order based on the number of hedge funds holding stakes in them as of Q4 2024.
Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
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Nokia Oyj (NYSE:NOK)
Share Price: $5.20
Number of Hedge Fund Holders: 20
Nokia Oyj (NYSE:NOK) is a Finland-based technology company that specializes in telecommunications equipment, networks, and related technologies. The company offers a range of solutions across cloud and network services, mobile networks, and network infrastructure. Nokia Oyj (NYSE:NOK) ranks among the best stocks under $10 to buy now.
As a technology leader across mobile, fixed and cloud networks, the company is focused on innovating and helping industrial enterprises embrace digital transformation. On March 27, Nokia Oyj (NYSE:NOK) announced the DAC Marketplace, a platform where customers and partners can find ready-to-deploy industrial enterprise solutions, devices, applications, and services from Nokia and third-party merchants, including Accton Technology Corporation, Aprecomm, EPS Global, Etra Telecom, Exloc, InfiniG, and RugGear. The marketplace integrates into the Nokia Edge Compute and AI platform for industries and automatically customizes offerings based on the delivery country to ensure compliance with local laws and regulations.
Overall, NOK ranks 8th on our list of the best stocks under $10 to buy now. While we acknowledge the potential of NOK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NOK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
