Got $1,000? 3 Cheap Stocks to Buy Right Now
One of the best things about stock investing is that you don't need a lot of money to begin doing it. Once you've handled other financial priorities like building up a sufficient emergency fund and paying down your high-interest debt, you can begin with as little as $1 on most brokerage platforms. Here are three stocks (all currently trading for less than $40 per share) that I'd split up a $1,000 investment between now.
SoFi Technologies (NASDAQ: SOFI) is a fintech company aiming to become the go-to platform for all financial services. From student loans to mortgages to personal loans to refinancing, it's out to do it all. Since mid-May, SoFi's stock price has more than doubled, mainly due to the resolution of the debt ceiling issue, which ended the student-loan repayment moratorium adopted during the pandemic.
SoFi has faced some troubles since the start of the COVID-19 pandemic in 2020, especially regarding student loans (the company's original business). In 2022, SoFi originated $2.2 billion in student loans, down by about $4.5 billion from its volume in 2019. However, the company increased its personal loan origination from $3.7 billion to $9.7 billion over that span.
Source Fool.com
