3 Stocks Under $10 With Two-Bagger Potential Stocks under $10, the stocking stuffers of the investing world, are aplenty. The challenge is distinguishing the ones that can vault to double digits from those that are likely to...

With the holiday shopping season upon us, people are getting in the mood for a good bargain. If you're an investor, you may also be rummaging through the bargain bin for a low-priced stock that can provide a little extra holiday cheer.

Despite the stock market climbing to new highs this week, there are still some names to put on the shopping list. Stocks under $10, the stocking stuffers of the investing world, are aplenty. The challenge is distinguishing the ones that can vault to double digits from those that are likely to stay cheap.

To achieve the big gains that low-priced stocks can offer, there needs to be a major catalyst (or multiple catalysts) in place. These three sub-$10 stocks have just that—and since they could double, belong on the "nice' list.

Will Amarin Stock Recover?

Amarin (NASDAQ: AMRN) is an Irish pharmaceutical company that trades on the Nasdaq. It develops treatments for various cardiovascular diseases that are primarily based on omega-3 fatty acids. At least for the time being, Amarin is a one-trick pony. Virtually of its sales are derived from Vascepa, a therapy for elevated triglyceride levels. The company's only drug on the market, Vascepa works in combination with a low-fat, low cholesterol diet to reduce the risk of heart attack or stroke.

Earlier this year, Vascepa was approved in Europe giving Amarin access to a key market in addition to the U.S. Unfortunately, this good news has so far been overshadowed by a previous court decision that allowed competitors including Teva Pharmaceuticals to develop a generic version of Vascepa. This is expected to limit Amarin's revenue growth to 4% this year which is mainly why the stock got pummeled last year and is down another 13% year-to-date.

There's still hope for Amarin. Next year analysts are expecting sales growth to accelerate to 8% due to the added European exposure, a focus on direct-to-consumer marketing, sales force expansion, and increased promotional activity. Amarin is also seeking label expansions for Vascepa as well as approval in other countries which could create new revenue streams.

The threat of generic competition is real, but analysts think better times are ahead for Amarin. This week Piper Sandler reiterated its "buy' rating noting that Vascepa's launch in Europe is "going extremely well".

Is Akoustis Technologies Stock a Good 5G Infrastructure Play?

Akoustis Technologies (NASDAQ: AKTS) is a North Carolina-based company that makes acoustic wave radio frequency (RF) filters for the 4G/5G mobile infrastructure providers, Wifi, as well as the defense market. The products help mobile devices, which need an RF filter to connect the network, acquire a signal and speed up digital communication.

Akoustis's share price has been cut in half since February in connection with the global supply constraints facing the broader semiconductor industry. These challenges are temporary though and as they subside there is a major opportunity ahead. After five years in the development phase, Akoustis is in the early stages of commercialization.

There's a lot to like about the growth opportunities and financials here. Akoustis competes in the fastest growing segment of the RF front end market which is forecast to reach $6.9 billion by 2024. And although sales and profits have yet to ramp given where the company is in its maturation, it is positioned well financially with no debt and an $88 million cash position.

The Street is unanimously bullish on Akoustis Technologies. On Monday, following the company's Q1 results, Oppenheimer noted a positive trend in customer acquisition in giving the stock a $13 target. A few weeks prior, Roth Capital gave it a $16 target which would be a two-bagger from here.

What Does Enthusiast Gaming Holdings Do?

Enthusiast Gaming Holdings (NASDAQ: EGLX) is a Canadian electronic gaming stock whose sharp downturn looks to be overdone. After it skyrocketed as high as $8.88 in April, the trip on the way down has been just as extreme creating a Christmas tree-shaped monthly chart of green and red. This relative strength indicator (RSI) has dipped below 30.

Last month RBC Capital started coverage of Enthusiast Gaming with an "outperform' rating and $7.25 price target. The analyst likes the company's potential to monetize the "fan experience" segment of the gaming ecosystem and noted multiple catalysts ahead.

Rather than make the games that enthrall the younger generations of gamers, Enthusiast Gaming is all about the fan experience. It operates a media platform that reaches 300 million mostly Millennial and GenZ gamers each month. Having access to such a an important part of the gaming market makes the platform a potential hotbed for programmatic advertisers. And since the company's media assets include 100 websites, dozens of popular YouTube channels, and live gaming events globally, the potential revenue streams are vast and diverse.

Enthusiast Gaming's financial results have yet to reflect its massive audience, but they are moving in the right direction. Through the end of the second quarter, trailing 12 months revenue was up 403%. If management can demonstrate an acceleration in revenue and gross profits when they report third quarter results next week, this volatile gaming media play could light up in a hurry.