Small US Stocks to Buy: Top Picks for 2023

Investing in small-cap stocks can be a lucrative venture, especially when you know where to look. In this article, we'll explore some of the best small US stocks to buy in 2023, offering potential for high growth and solid returns. Whether you're a seasoned investor or just starting out, these picks could be the perfect addition to your portfolio.

Understanding Small-Cap Stocks

Before diving into the picks, let's clarify what we mean by "small-cap stocks." These are companies with a market capitalization between 300 million and 2 billion. While they may not have the same visibility as large-cap stocks, they often offer more growth potential due to their smaller size and market presence.

Top Small US Stocks to Buy in 2023

1. GreenLight Therapeutics (NASDAQ: GLHT)

   • Growth Potential: GreenLight Therapeutics is a biotechnology company focused on developing novel therapies for inflammatory and metabolic diseases. With a strong pipeline and partnerships in place, this company has the potential to make a significant impact in the healthcare industry.
   • Recent Developments: In early 2023, GreenLight Therapeutics announced positive results from a phase 2 trial for its lead drug candidate, GLTX-112, which could position the company for future growth.

2. Tilray (NASDAQ: TLRY)

   • Growth Potential: Tilray is a leading cannabis company with a global footprint. As the cannabis industry continues to expand, Tilray has the potential to capitalize on this growth, especially in key markets like Canada and Europe.
   • Recent Developments: In late 2022, Tilray entered into a strategic partnership with a major pharmaceutical company, which could help the company expand its product offerings and distribution channels.

3. Canaan Inc. (NASDAQ: CAN)

   • Growth Potential: Canaan Inc. is a leading designer and manufacturer of application-specific integrated circuits (ASICs) for the blockchain and cryptocurrency mining markets. As the demand for cryptocurrencies continues to grow, Canaan stands to benefit from increased demand for its products.
   • Recent Developments: In early 2023, Canaan announced a new product line, which could help the company capture a larger share of the market.

4. Mazor Robotics (NASDAQ: MZOR)

   • Growth Potential: Mazor Robotics is a medical device company that provides innovative surgical solutions for spinal procedures. With a strong focus on innovation and a growing market for minimally invasive surgery, Mazor Robotics has the potential to achieve significant growth.
   • Recent Developments: In late 2022, Mazor Robotics announced a partnership with a leading healthcare provider, which could help the company expand its customer base.

5. Cree, Inc. (NASDAQ: CREE)

   • Growth Potential: Cree, Inc. is a leader in the design and manufacture of lighting-class LEDs, LED lighting products, and semiconductor solutions for power and radio frequency applications. As the global demand for energy-efficient lighting continues to grow, Cree has the potential to capitalize on this trend.
   • Recent Developments: In early 2023, Cree announced a new partnership with a major lighting manufacturer, which could help the company expand its market reach.

Conclusion

Investing in small US stocks can be a risky endeavor, but with careful research and due diligence, it can also be highly rewarding. The stocks mentioned in this article are just a few examples of small-cap companies with significant growth potential. As always, it's important to conduct your own research and consult with a financial advisor before making any investment decisions.

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