2 Dirt-Cheap Stocks That Could Skyrocket

Stocks in the S&P 500 are trading at an average price-to-earnings (P/E) multiple of 42 compared to its historical average of 16. That means it's getting harder to find good deals in the market right now.

If you are searching for bargain-priced stocks under such circumstances, you might want to consider investigating possible turnaround stories and overlooked industries. Two current examples, MGM Resorts (NYSE: MGM) and Vector Group (NYSE: VGR), would make great choices as they have the hallmarks of a dirt cheap stock with the potential to skyrocket.

It would be inaccurate to say that MGM Resorts stock could skyrocket in price because it is already soaring. Share prices are up 33% year-to-date thanks to optimism surrounding its sports betting platform, BetMGM. The stock also looks poised for continued momentum as the coronavirus vaccine rollout helps bring tourists back to its brick-and-mortar casinos.

Source Fool.com