2 Magnificent Stocks to Buy That Are Near 52-Week Lows

There's always a reason stocks trade near year-long lows, which should be considered before buying them. That said, there's a good case for buying both companies discussed here. Devon Energy (NYSE: DVN) is a great option for income-seeking investors looking for some exposure to energy. Meanwhile, Aehr Test Systems (NASDAQ: AEHR) is an option for enterprising investors looking for a recovery play in 2024.

There's no secret as to why Devon Energy has declined recently. As an oil and gas exploration and production company, its fortunes are ultimately tied to energy prices. Unlike integrated majors like , Devon doesn't have downstream operations that provide some insulation from a falling oil price. Unfortunately, the price of oil has fallen from over $93 a barrel in late September to around $73.40 at the time of this writing.

However, I think there are a couple of crucial considerations investors should make that support buying the stock.

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Source Fool.com