Generally speaking, investors seeking long-term success should follow the guidance of Warren Buffett rather than target cheap stocks to buy under $10. Fundamentally, the Oracle of Omaha knows how to effectively navigate both bull and bear market cycles. Such a track record provides more confidence than swinging for the fences.

Still, speculation has its moments. For example, for those that have been watching October baseball, you know that one swing of the bat can change everything. And so it is with stocks to buy for under $10. In a moment’s notice, a portfolio aching with red ink can suddenly feel the relief of a heavy burden lifted.

Also, this approach features a Goldilocks effect: not too risky, not too boring, just right. Of course, you’ll want to take all necessary precautions. It’s still a speculative framework. Still, there’s potentially a lot of meat on these bones. Below are stocks to buy under $10.

1-800-Flowers (FLWS)

Alright, let’s get right into the justification for stocks to buy for under $10, beginning with 1-800-Flowers (NASDAQ:FLWS). According to analysts, FLWS represents a consensus moderate buy with an average price target of $14.50. This forecast implies just a bit under 100% upside or a 2x return over the next 12 months. Noble Financial’s Michael Kupinski offers the high-side target of $21, projecting nearly 189% growth.

But will 1-800-Flowers get there? Admittedly, part of the forecasted upside stems from the de-risked narrative. Since the start of the year, shares slipped about 24%. While that sounds scary, keep in mind that in the trailing one-month period, they gained almost 10%. Therefore, it’s possible that on a technical level, FLWS hit a bottom.

Financially, the company’s three-year revenue growth rate comes in at 11.6%, above 71.56% of its peers. That’s encouraging. What’s not so great is that recent revenue trends are on the decline, which means you’ll have to trust the fundamental narrative.

Basically, the timing of upcoming holidays combined with the trade-down effect (i.e. purchasing flowers over more expensive gifts) could make FLWS one of the stocks to buy under $10.

NerdWallet (NRDS)

A company I’ve mentioned several times before, NerdWallet (NASDAQ:NRDS) could be an interesting play for stocks to buy under $10. First, let’s discuss the justification. Per Wall Street analysts, NRDS ranks as a consensus moderate buy with a $15.83 price target. If it gets to that point, we’re talking about growth of over 138% over the next one-year period. On the high side, a forecast of $21 projects over 216% returns.

Whether it gets there or not is a tricky question, though. Fundamentally, I appreciate the angle. As a personal finance resource, the company is invaluable and relevant. With Americans’ credit card debt load totaling just over $1 trillion, it’s clear we collectively could use financial education. Further, NerdWallet has other relevant tips on how to survive the present inflationary storm.

On the flipside, it could use some improvements on profitability as well as free cash flow. However, revenue growth is robust. In the past three years, sales expanded at a rate of 23.8%, beating out 73.5% of rivals. Also, the company suffers zero debt, giving it incredible flexibility. It’s one of the stocks to buy for under $10.

NuScale Power (SMR)

Okay, with NuScale Power (NYSE:SMR), we’ve rapidly shifted from somewhat reasonable speculation to speculation mixed in with incredulity. To start, let’s look at the objective justification for why SMR is on this list of stocks to buy under $10. Analysts rate the nuclear energy specialist a moderate buy, with an average price target of $10.75. That comes out to a forecast of nearly 204% upside.

Now, SMR is split between a buy and a hold rating. For the former, the price target is $14, representing over 295% growth. So, you’ll get way more than a 2x return if the starts align. But will the constellation smile on you? It’s possible but you’ll have to exercise extreme patience and bravery.

Fundamentally, NuScale – which develops small modular reactors (SMRs) – recently became the subject of a short-seller report. The darkly named Iceberg Research (which I assume references the Titanic sinking) blasted NuScale’s viability and reputation.

Recently, NuScale responded to what it termed Iceberg’s inaccurate and deceptive “research.” And it just might have arrested SMR’s downfall. Still, it’s an extremely risky idea appropriate only for the gambler.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.