3 Dirt Cheap Stocks That Could Skyrocket
It's not easy to find dirt cheap stocks in today's market.
Valuations got stretched to near-record levels in 2020. Profits tumbled even as stocks shot to record highs, thanks to a surge of interest from retail investors, euphoria around tech stocks, loose monetary policy from the Federal Reserve, and hopes for a strong economic recovery once the pandemic ends. The price-to-earnings ratio for the S&P 500 now stands at 37.6, compared to just above 20 at the start of 2020.
Despite those lofty price tags, there are still some bargains to be found in today's market. Let's take a look at why AutoZone (NYSE: AZO), General Motors (NYSE: GM), and Alibaba Group Holdings (NYSE: BABA) are all cheap stocks that could soar.
Source Fool.com
