Got $5,000? Buy These 2 Cheap Growth Stocks Today
Since the end of August, the S&P 500 has fallen 2.5% as the markets have started to tighten up. There's good reason: Many stocks were simply overvalued and trading at levels that do not appear to be sustainable. The index is still trading at an average price-to-earnings (P/E) ratio of 31. And while that number has come down this year, it's far higher than it has been in previous years (prior to 2020, the multiple was typically lower than 24).
But not all stocks are obscenely overvalued. Two growth stocks that are relatively cheap and could provide investors with some solid returns in the near future are Petco Health and Wellness (NASDAQ: WOOF) and Wendy's (NASDAQ: WEN).
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Source Fool.com
