In the unpredictable world of Wall Street since 2020, navigating the market has been a rollercoaster ride. From the depths of the coronavirus market crash to the heights of a bullish market, and then another bearish downturn, it’s been a tough journey.
However, amidst the chaos, the savvy investor can find a golden opportunity. Hidden within today’s market are numerous stocks, each a potential gem, ripe for the picking for under $100. These aren’t just cheap stocks to buy; they’re intelligent investments waiting to be discovered.
Investing in companies with robust growth potential can be invaluable during market uncertainties. Making wise investments in these affordable stocks could lead to significant long-term gains in your portfolio, especially during a bull run.
Ford (NYSE:F) might surprise you as a cheap stock to buy, but it’s a beacon of value in the automotive space, trading at just 0.25 times forward sales. This represents a staggering 69% drop from the sector median, making Ford an undervalued giant. Its 7.21% dividend yield is a compelling draw for dividend-focused investors.
Despite the recent UAW strike costing Ford a hefty $1.3 billion and a loss of 80,000 vehicles, the company’s outlook shines with promise. Ford’s plan to effectively restart production showcases its resilience and adaptability, crucial for long-term growth. This undervaluation period could be a golden opportunity for savvy investors.
Kinross Gold (NYSE:KGC) is a compelling pick among gold miners. If gold prices break past the $2,000 to $2,200 per ounce barrier in 2024, KGC stock could see a significant surge, potentially doubling in value. This optimism is fueled by its attractive forward price-earnings ratio of 13.3 and a decent dividend yield of 2.26%.
United Microelectronics Corp (NYSE:UMC), a Taiwan-based semiconductor giant, is a critical wafer foundry service device producer. Despite a 24% drop in sales and a 41% drop in net income, United Microelectronics still managed to exceed Wall Street’s top-line estimates. The company has experienced a 17% growth in its year-to-date (YTD) price and an attractive dividend yield of 7.71% annually.
Nio (NYSE:NIO), a leading Chinese electric vehicle (EV) manufacturer, stands out as a compelling play, trading at desirable levels. Analysts remain optimistic, predicting the stock could more than double by 2025 as the EV industry steadies, supported by the firm’s competitive price-to-sales ratio of 1.6 times.
Destination XL (NASDAQ:DXLG) emerges as a speculative yet intriguing investment option. The big and tall men’s apparel provider, trading at roughly eight times earnings with a healthy balance sheet, DXLG offers a unique proposition in this niche. Its trailing twelve-month sales of more than $500 million in a $23 billion market highlight its long-term potential.
SoundHound AI (NASDAQ:SOUN), an independent voice AI platform, is efficiently carving a niche in the tech space with its innovative end-to-end solutions. The company’s potential is massive, predicting a total addressable market of nearly $160 billion by 2026.
ReWalk Robotics (NASDAQ:RWLK) is last on the list of cheap stocks to buy, but certainly not least. It’s a true pioneer in wearable robotic exoskeletons, redefining mobility for those with spinal cord injuries. ReWalk reported a significant revenue jump in sales to $4.4 million, a 394.4% bump on a YOY basis, while maintaining a solid cash position of $32.6 million and no debt.
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