Got $500? 2 Absurdly Cheap Stocks to Buy on the Dip Now
A rising tide may lift all ships, but famous investor Warren Buffett once said, "Only when the tide goes out do you discover who's been swimming naked." The global pandemic event definitely saw the tide go out, and fortunes for both the world's largest cruise company, Carnival Corporation (NYSE: CCL), and fast-growing pet-supply company Chewy, Inc. (NYSE: CHWY) changed dramatically.
While one saw a huge dip due to viral spread and safety precautions, the other witnessed its shares soar to new heights. Now, with a global return to normalcy underway, these two seem ready to tackle the challenges ahead and come out as winners in the consumer spending space. Even better, the instability of the past and current bear markets have brought share prices down to where only $500 could land investors 10 to 50 shares of each before the next rally.
Prior to the start of the global pandemic, Carnival cruises were all the rage as vacationers set sail, and company earnings reports continued to predict success and new initiatives to modernize the fleet. Share prices soared to nearly $70 before plummeting as low as $12 during the height of the shutdowns to stop the spread. The company declared its return to regular operations "essentially complete," with most of its lines back in full operation and the majority of pandemic restrictions lifted by its September earnings report.
Source Fool.com
