How to Find Great Cheap Stocks Under $10 to Buy in October

Group 1: Market Overview - The S&P 500 reached new highs, while the Nasdaq approached its July peaks, driven by strong earnings from JPMorgan and other major Wall Street firms [1] - The positive start to the earnings season has improved the outlook for total S&P 500 earnings growth [1] - Despite potential volatility due to upcoming elections, solid earnings growth and lower interest rates are expected to encourage continued stock purchases [1] Group 2: Penny Stocks - The SEC defines penny stocks as securities trading for less than $5, expanding the traditional threshold of one dollar [2] - Investors often avoid penny stocks due to their speculative nature, infrequent trading, and wide bid/ask spreads, although some can perform exceptionally well [2] Group 3: Stocks Under $10 - Stocks priced between $5 and $10 are generally considered less risky than penny stocks, but still carry speculative characteristics [3] - A screening process was established to identify stocks under $10 with specific criteria, including a Zacks Rank of 2 or better and positive earnings estimate revisions [3] Group 4: Amneal Pharmaceuticals - Amneal Pharmaceuticals, trading under $10, has a strong earnings outlook and is involved in developing a wide range of generic and specialty pharmaceuticals [4][6] - The company is projected to grow its revenue by 15% in 2024, reaching nearly $3 billion, and has raised its full-year 2024 guidance due to broad-based growth [6] - Amneal's stock has increased by 45% year-to-date and is currently trading 11% below its average Zacks price target of $8.80, with four out of five brokerage recommendations being "Strong Buys" [6]