If you have $5,000 that you can afford to invest in the stock market, you'll have to decide between investing in just one stock or spreading it across multiple investments. What's more challenging, however, is finding a safe place to invest that $5,000.

Three growth stocks that are not only safe but also cheap right now are United Parcel Service (NYSE: UPS), PDD Holdings (NASDAQ: PDD), and Lowe's (NYSE: LOW). Here's why they could be underrated buys right now.

United Parcel Service has been struggling to generate much growth these days. When it reported its latest numbers -- for the second quarter of 2024 (which ended on June 30) -- revenue totaling $21.8 billion was down 1% from the same period last year.

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Source Fool.com