Cheap Stocks to Buy Under $10 – Shanda Games (GAME)
China is a huge gaming market, and Shanda Games (GAME) is one of the most popular Internet video game portals in the nation. Shanda specializes in massive online role-playing games that span fantasy, strategy and martial arts themes. It also has a range of mobile games for the Apple (AAPL) iPad or Google (GOOG) Android devices.
Shanda had a pretty stagnant top line in 2013, but earnings should post annual growth of about 26% when the company reports its Q4 and full-year numbers in a few weeks.
While conventional console-based video games have been a struggle in a mobile age, online games and mobile titles remain popular. And Shanda is one of the most entrenched players in the fast-growing Chinese market — a place where many western companies still cannot do business thanks to government oversight.
Shanda is up 50% in the last year, but remains one of the best cheap stocks, going for around $5 stock.