2 Cheap Stocks to Buy Now and Hold Forever
It’s no secret that many stocks are down significantly from their highs, but that doesn’t mean that they’re all “cheap.” To find true long-term investing bargains, it isn’t enough to simply focus on stocks that have experienced price drops -- you need to focus on companies with strong growth momentum, leading market positions, and favorable tailwinds.
Two stocks in particular that look extremely attractive right now are MercadoLibre (NASDAQ: MELI) and Walker & Dunlop (NYSE: WD), which are down by 67% and 42% from their 52-week highs, respectively.
MercadoLibre is a leading e-commerce company in several markets in Central and South America and is often referred to as the “Amazon (NASDAQ: AMZN) of Latin America.” This certainly makes sense, as MercadoLibre’s marketplace generated $7.7 billion in gross merchandise volume in the first quarter of 2022 alone and has a dominant lead in the key Brazil and Argentina markets.
Source Fool.com
