We recently published a list of the 10 Best US Stocks Under $10 to Buy Right Now. In this article, we are going to take a look at where Core Scientific Inc. (NASDAQ:CORZ) stands against other US stocks under $10 to buy right now.

On March 12, Stephanie Guild of Robinhood and Marci McGregor of Bank of America Merrill Lynch shared their perspectives on the current state of the market and strategies for navigating uncertainty. Guild explained that retail investors’ approach to buying the dip has shifted in line with changing market dynamics. While clients are still investing, they are focusing on specific names they favor. At the same time, she noted an increased tendency toward diversification, with investors allocating funds to index investments more than ever before. Additionally, many are taking advantage of Robinhood’s 4% cash yield, which reflects a balanced approach to investing during uncertain times.

McGregor emphasized the importance of focusing on long-term trends rather than reacting to short-term headlines, which often create unnecessary noise. She attributed some weak economic data from January to weather-related factors, calling it a temporary head fake. While acknowledging ongoing uncertainty around trade policy, McGregor highlighted key drivers for market recovery. She pointed out that 6 of the 11 S&P 500 sectors posted double-digit year-over-year earnings growth in Q4 and noted that market broadening is underway. Year-to-date, 63% of S&P constituents have outperformed the index compared to less than 30% over the last two years. This broadening trend signals potential strength in the market. Looking ahead, McGregor predicts a gradual easing of financial conditions later this year, potentially supported by a weaker dollar and improving corporate conditions. She suggested that if soft economic data begins to manifest more clearly, it could lead to Fed rate cuts. Factors such as deregulation, a merger cycle, and potential tax cut extensions may also contribute to recovery. Despite uncertainties, McGregor advised clients to buy on weakness and stay diversified. This includes exposure to international markets like Europe while maintaining confidence in the US as a leading market.

Our Methodology

We used the Finviz stock screener to compile a list of the top US stocks that were trading below $10 as of March 24. We then selected the 10 US stocks that were the most popular among elite hedge funds and that analysts were bullish on. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey’s database which tracks the moves of over 900 elite money managers.

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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

Core Scientific Inc. (NASDAQ:CORZ)

Share Price as of March 24: $8.51

Number of Hedge Fund Holders: 66

Core Scientific Inc. (NASDAQ:CORZ) specializes in digital asset mining services and offers infrastructure, software, and hosting solutions across the US. It operates through self-mining, hosted mining, and HPC hosting segments. It provides data center facilities, miner deployment & management, and essential infrastructure services to support blockchain transactions and digital asset operations.

The company recently secured an $8.7 billion, 12-year contract with CoreWeave for 500 megawatts. This translated to $725 million in annual revenue, which surpassed its 2024 total revenue of $500 million. This came primarily from Bitcoin mining. The company has expanded its CoreWeave agreement by 70 megawatts in Denton, which added $1.2 billion in contracted revenue. This brought the total contracted value to over $10 billion. The company expects 250 megawatts to be online by the end of 2025, and the full 590 megawatts by early 2027.

The company is diversifying its HPC customer base and is aiming for CoreWeave to represent less than 50% of its critical IT load by 2028. Additionally, Core Scientific Inc. (NASDAQ:CORZ) is pursuing organic expansion and is targeting an additional 300 megawatts at existing sites by 2027. It’s exploring strategic M&A opportunities to further expand capacity and diversify revenue streams. The current strategy involves funding $1.5 million in capital expenditures per megawatt for new deals.

Overall, CORZ ranks 1st on our list of the best US stocks under $10 to buy right now. While we acknowledge the growth potential of CORZ, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CORZ but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.