In this article, we will discuss the 10 Best Canadian Stocks Under $10 to Buy Now.
On May 1, Theresa Shutt, CIO at Harbourfront Wealth Management, appeared on BNN Bloomberg to discuss the current state of Canadian and global markets. She observed a shift in market psychology, particularly regarding the performance of major tech companies. While Microsoft exceeded expectations, Shutt highlighted Meta as an outlier. This decline was driven by Meta’s CapEx outlook, which is projected to reach $145 billion (an 80% jump from 2025), prompting JPMorgan to downgrade the stock. Shutt explained that the market is now focusing on monetization rather than the rising tide lifts all boats theory, noting that Meta’s reliance on cyclical advertising revenue makes it vulnerable during economic slowdowns, unlike more diversified AI plays.
Discussing the broader tech environment, where hyperscalers are accelerating spending despite rising input costs exacerbated by conflict in Iran and supply chain disruptions, Shutt noted that while the tech index is down, specific beneficiaries are emerging, including power companies, data centers, copper producers, and chip manufacturers. She emphasized that the market is finally moving away from a short-term party atmosphere toward a more bifurcated view that distinguishes between long-term winners and losers. Shutt also observed that bonds have been volatile and have not performed as well under current leadership, yet they remain a necessary part of a portfolio for diversification across geographies and credit types. However, she warned that the correlation between bonds and equities is becoming increasingly positive in the high-rate environment. Consequently, she advocated for considering alternative asset classes like private equity or hedge funds.
Our Methodology
We used stock screeners to identify Canadian stocks with a share price below $10, and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2025. We considered Canadian-based companies trading under $10 on major U.S. exchanges, regardless of where their main operations are located.
Note: All data was sourced on May 11.
Why are we interested in the stocks that hedge funds pile into? 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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10 Best Canadian Stocks Under $10 to Buy Now
10. Vizsla Silver Corp. (NYSEAMERICAN:VZLA)
Number of Hedge Fund Holders: 14
Vizsla Silver Corp. (NYSEAMERICAN:VZLA) is one of the best Canadian stocks under $10 to buy now. On April 24, Vizsla Silver reached a significant milestone for its Panuco silver-gold project in Sinaloa, Mexico, by awarding two major contracts. M3 Engineering & Technology has been selected for the engineering, procurement, and construction management/EPCM of the process plant and surface infrastructure, a contract valued at ~$170 million. Simultaneously, Mining Plus has been appointed to handle mine design, continuing a partnership that began following the project’s preliminary economic assessment in 2024.
The project is backed by a $220 million finance mandate from Macquarie Bank, ensuring the necessary capital for development. The scope of work involving M3 Engineering includes off-site detailed design and equipment procurement, while Mining Plus will oversee geotechnical work, scheduling, and ore development. This phase involves a projected $50 million in development capital and $40 million for ore development during the two-year pre-production period.
Current activities remain on schedule, with the mining contract expected to be awarded in Q2 2026. Operations are set to commence once the MIA environmental permit is secured, supported by a two-year infill drilling program to prepare for plant commissioning. Leadership from all involved firms expressed confidence in the technical expertise being applied to transition the high-grade Panuco project toward commercial production.
Vizsla Silver Corp. (NYSEAMERICAN:VZLA) is a mineral exploration & development company that acquires, explores, and develops mineral resource properties, including a silver-gold project in Sinaloa, Mexico.
9. Lightspeed Commerce Inc. (NYSE:LSPD)
Number of Hedge Fund Holders: 15
Lightspeed Commerce Inc. (NYSE:LSPD) is one of the best Canadian stocks under $10 to buy now. On May 7, Lightspeed Commerce appointed Bhawna Singh as Chief Technology Officer to accelerate the company’s AI roadmap and global engineering strategy. Singh brings over 25 years of experience from leadership roles at Okta and Glassdoor, where she specialized in scaling global platforms and modernizing complex systems. Working alongside Chief Product Officer John Shapiro, she will focus on integrating conversational AI assistants and ensuring the platform can scale to meet the increasingly complex needs of merchants.
On the retail front, the company has introduced several AI-driven enhancements to streamline inventory and wholesale management. A new integration with Faire allows for automatic syncing of product data, while an AI-powered Optical Character Recognition/OCR tool automates inventory entry to improve accuracy. Additionally, Lightspeed launched personalized brand recommendations within its Marketplace and updated its mobile scanner to provide sales staff with real-time access to promotions and item history during customer interactions.
In the hospitality sector, Lightspeed Commerce Inc. (NYSE:LSPD) has debuted an AI Menu Import tool that digitizes physical or sketched menus into organized digital formats, significantly reducing manual setup time. The update also includes a new promotion engine for the “Order Anywhere” platform, a redesigned PoS navigation system for improved efficiency, and the expansion of Mobile Tap to Quebec.
Lightspeed Commerce Inc. (NYSE:LSPD) sells cloud-based software subscriptions and payments solutions for single and multi-location retailers, restaurants, golf course operators, and other businesses.
