At first glance, it might appear that the impressive returns of the stock market this year would mean that most stocks in the index are enjoying similar performance. Unfortunately, the market doesn't work that way. While the S&P 500 index is up 18% so far in 2024, some well-known stocks within that index saw their stock prices fall at least 28% from their 52-week highs.

Smart investors see that disparity and know it means there are some discounted stocks to be found. The trick, of course, is discerning which of the discounted stocks represent quality companies experiencing a short-term issue (or issues). Not every stock that falls is a wise investment. However, the market can be irrational in the short term, presenting interesting opportunities for savvy investors.

Let's take a look at two stocks that trade down significantly from recent highs and see why they might be good stocks to buy right now.

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Source Fool.com