2 Bargain Stocks You Can Buy Today
While the broader stock market has come back and almost erased the losses suffered during the COVID-19 correction in March, there are still a lot of bargains out there to be had. For those who like to shop for value on the discount rack, here are two stocks that are not only cheap but have good long-term value.
No industries were hit harder by the pandemic than the hotel and travel industries. And few stocks were hit as hard as MGM Resorts (NYSE: MGM), which for a time had to shut down all of its U.S. hotels. The stock price fell to a low of $7.14 per share on March 18 and has slowly climbed back to about $16 per share as of July 20. But the stock is still down about 50% year to date and is trading at only 3 times earnings with a price/earnings ratio of 3. That's a rock bottom value for a major brand name like MGM that will certainly see growth as hotels reopen and a COVID-19 vaccine is developed.
The MGM Grand resort in Las Vegas reopened in June. Image source: MGM Resorts.
Source Fool.com
