Most investors would undoubtedly prefer to own Class A shares of Berkshire Hathaway at $343,000 a share than penny stock FlyByNite.com, but low-priced stocks can still be alluring.

The $10 price point is not some magical threshold, but it holds a psychological value that shares priced below this level can make it big. While cheap stocks are often cheap for a reason, here are three great stocks under $10 to consider.

Man handing over $10

Image source: Getty Images.

Aphria

Canadian pot producer Aphria (NASDAQ:APHA) has said the marijuana industry is ripe for consolidation, hinting at potential deals to come, but expansion is also a prime growth opportunity, and the U.S. market could be where it shines.

The recent $300 million acquisition of Sweetwater Brewing and its "420" brand of beer gives the marijuana leader a chance to capitalize on Cannabis 2.0 opportunities in the U.S. as it has done north of the border.

There might be a few other pot companies that generate more headlines than Aphria, but it is the largest Canadian producer in terms of revenue and it sold almost 20,900 kilograms of cannabis equivalent in its fiscal first quarter.

CEO Irwin Simon told Bloomberg, "We want to focus on where consumers are going rather than what consumers want," and investors just might want to follow.

Cresco Labs

Another cannabis grower investors should consider is Cresco Labs (OTC:CRLBF) because it is also seizing on the potential of the U.S. market.

On Election Day last week, marijuana had a clean sweep in ballot initiatives, with Arizona, Mississippi, Montana, New Jersey, and South Dakota all approving recreational or medical usage. Alongside 11 other states and the District of Columbia that have already legalized some form of cannabis, Illinois-based Cresco could be a big part of the industry drive leading to $166 billion in annual marijuana sales.

The cannabis producer generated record revenue of $94 million in the second quarter, a 42% increase from last year and up 30% sequentially, as its wholesale business benefited from California buying up its product while expanding its capacity in Illinois and Pennsylvania.

Cresco Labs has effectively targeted key markets for growth and as more states approve legalization, it should be a leading force in them. It recently won approval to open its 10th store in Illinois, the maximum allowed there, and we may eventually see it maxing out its opportunities elsewhere, too.

Ford

Obviously not a pot stock, Ford (NYSE:F) is putting the pedal to the metal and left analyst expectations in the third quarter choking on its exhaust. The automaker generated $6.3 billion in adjusted free cash flow as its North American market benefited from strong sales of its F series trucks. They now own more than 35% of the truck market.

With nearly $30 billion of cash in the bank $45 billion in available liquidity after paying down the loans it took out earlier this year to ensure it had the financial flexibility to meet the uncertainties of the pandemic, Ford is ready to invest in its future.

That's a future of more electric vehicles, and it plans to pursue them aggressively. President and CEO Jim Farley told analysts Ford believes "the addressable market for a fully electric commercial van and pickup, the two largest addressable profit pools in commercial, are going to be massive."

An electric Transit F-150 work truck, one of the most important segments in the space, is going to be a priority.

Ford still has issues it needs to confront in autos and in certain international markets where sales continue to lag, but this automaker looks primed to roar ahead in the years to come.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.