5 Best Stocks Under $10 According to Billionaire Daniel Och’s OZ Management

In this article, we discuss the 5 best stocks under $10 according to billionaire Daniel Och’s OZ Management. If you want to read our detailed analysis of the billionaire’s hedge fund and investment philosophy, go directly to read the 10 Best Stocks Under $10 According to Billionaire Daniel Och’s OZ Management. 

5. Lordstown Motors Corp. (NASDAQ:RIDE)

OZ Management’s Stake Value: $4,348,000
Percent of OZ Management’s 13F Portfolio: 0.03%
Number of Hedge Fund Holders: 12
Share Price as of October 5: $5.85

Lordstown Motors Corp. (NASDAQ:RIDE) is an American electric vehicle automaker. The company designs and manufactures electric vehicles with the main motive to reduce costs. The company ranks fifth on our list of the best stocks under $10 according to billionaire Daniel Och’s OZ Management.

As of Q2 2021, OZ Management owns 393,100 shares of Lordstown Motors Corp. (NASDAQ:RIDE), valued at over $4.3 million. The company accounts for 0.03% of the hedge fund’s 13F portfolio. Recently, Lordstown Motors Corp. (NASDAQ:RIDE) announced an agreement with Taiwan-based technology company, Foxconn, to develop an electric vehicle program at Lordstown Motors Plant. The joint collaboration will build the all-electric Endurance pickup truck. For FY21, Lordstown Motors Corp. (NASDAQ:RIDE) expects capital expenditure of between $375 million to $400 million. In September, Morgan Stanley reinstated the coverage on Lordstown Motors Corp. (NASDAQ:RIDE) with an ‘Equal Weight’ rating and an $8 price target. 

As of Q2 2021, 12 hedge funds tracked by Insider Monkey have positions in Lordstown Motors Corp. (NASDAQ:RIDE), worth $27.1 million. The number of hedge funds having stakes in the company was the same in the previous quarter.