A handful of stocks to buy under $20 can offer investors explosive returns in uncertain market conditions. The article lists names that might not immediately grab headlines, but their strategic focus and innovative progressiveness qualify them as potential multi-baggers.
These three stocks to buy under $20 share a common thread of innovation and strategic alignment, making them interesting options for investors seeking financial growth and a stake in forward-looking industries.
Enel Chile (ENIC)
Enel Chile (NYSE:ENIC) stands to benefit significantly from its long-term strategic actions and portfolio optimization efforts.
These initiatives are well aligned with the ongoing energy transition and decarbonization trends.
Enel Chile’s portfolio management actions have targeted optimizing and flexibilizing its energy mix. It is in response to the energy transition scenario.
The commercial, operational authorizations for over 1 gigawatt of renewable projects and the addition of 0.8 terawatt hours of renewable production in the first semester underscore the company’s leadership in renewable energy.
Furthermore, Enel Chile has participated in electrification and decarbonization efforts, particularly in the public and private sectors.
Initiatives such as replacing wood stoves with efficient air conditioners and expanding electric public transport demonstrate the company’s broader impact on reducing CO2 emissions. It promotes cleaner energy consumption.
Therefore, these initiatives enhance the company’s environmental profile and contribute to improved financial results, therefore it’s one of the stocks to buy under $20 you really want to know about.
Coda Octopus (CODA)
Coda Octopus (NASDAQ:CODA) may yield long-term benefits because of its strategic focus on developing and offering cutting-edge underwater technology solutions.
It has invested significant effort in developing its new generation of underwater products and solutions, including the Echoscope PIPE and Diver Augmented Vision Display.
These products are integral to the company’s growth strategy and provide a solid foundation for its long-term success.
Notably, the company focuses on establishing itself in the defense market, strategically aligned with the growing demand for advanced underwater technology. The Echoscope’s real-time 3D imaging sonar technology addresses a critical requirement in defense underwater vehicle programs.
That is real-time spatial perception and scene awareness. Coda Octopus aims to secure long-term contracts within these programs, leading to recurring revenues and a steady business model similar to its successful engineering segment.
Fundamentally, the adoption and expansion of the DAVD system, both in tethered and untethered variants, are also vital growth avenues.
The successful transition of DAVD from R&D to field adoption with the US Navy, coupled with potential adoptions by various defense and commercial entities. As a result, it positions Coda Octopus for significant revenue growth in this sector.
Further, Coda Octopus’s ability to adapt its technology for various applications, such as underwater communication and enhanced video modules, extends its product portfolio and market reach. As a result, it is diversifying the company’s revenue streams.
Although there have been setbacks in achieving revenue targets for certain products in specific regions, Coda Octopus remains resilient and focused on its growth strategy.
With the ongoing support of defense underwater vehicle programs and the potential for additional revenue from new products, Coda Octopus may achieve its revenue goals and maintain profitability in the long term.
Oncolytics Biotech (ONCY)
Oncolytics Biotech (NASDAQ:ONCY) has its strategic focus on developing innovative treatments for HR-positive and HER2-negative metastatic breast cancer and pancreatic cancer.
The company recently announced positive results from the randomized BRACELET-1 trial in HR-positive and HER2-negative metastatic breast cancer. These results, presented at the prestigious American Society of Clinical Oncology Annual Meeting, are a significant milestone.
Oncolytics Biotech’s pipeline encompasses two core pillars: HR-positive/HER2-negative breast cancer and pancreatic cancer programs. These indications represent substantial registration opportunities supported by compelling clinical data.
The company aims to optimize the registration-enabling pathways for these programs. It is fostering growth and expanding its potential impact on the oncology landscape.
The company’s strategic approach to business development involves leveraging its positive clinical data to attract potential partners. The positive readout of the BRACELET-1 trial may generate long-term interest and initiate new phases of business expansion.
Oncolytics Biotech has a solid clinical data foundation, special protocol assessment agreements, and fast-track designations. It places it in a favorable position for negotiations, especially considering its synergistic breast and pancreatic cancer programs.
Oncolytics Biotech’s efforts also extend to exploring the potential of pelareorep in combination with CAR T-cell therapy for solid tumors.
The company’s collaboration with the Mayo Clinic and positive preclinical results suggest that pelareorep could enhance the efficacy of CAR T-cell therapy. It is a groundbreaking approach that has had limited success against solid tumors.
This innovative avenue could further expand the application of pelareorep and CAR T-cell therapies.
Finally, creative efforts with BAT in research and development promise to yield innovative products and delivery methods, enhancing the consumer experience.
The development of emulsions, vapor formulations, and packaging solutions allows OrganiGram to provide novel products continuously, maintaining a competitive edge.
On the date of publication, Yiannis Zourmpanos did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.