2 Stocks Down More Than 50% to Buy Right Now

When the stock market recovers from a crash, there are always stocks we wish we'd bought on the dip. I'm not just referring to the popular stocks here, but also shares of lesser-known companies that are quietly setting themselves up for big things to come, driven by futuristic technologies or secular trends in their respective industries. (NYSE: ALB) and Trimble (NASDAQ: TRMB) are two such solid beaten-down stocks to buy now.

While one company is using cutting-edge technology to transform boring sectors like agriculture and construction, the other is focused on making the most of the opportunities in one of the hottest industries -- electric vehicles (EV). Albemarle and Trimble shares, however, are down more than 50% each from their respective all-time highs, making them attractive stocks to buy now. Here's what you need to know.

Neha Chamaria (Albemarle): Albemarle stock has lost more than half its value in the past year and is down nearly 60% from its all-time high. That makes sense if you look at the dramatic fall in lithium prices. Lithium carbonate has slumped a whopping 68% so far this year, according to Trading Economics, hitting levels last seen in September 2021, thanks to decelerating global demand amid a supply glut from China. Lithium makes up the lion's share of Albemarle's business; the company produces a broad range of lithium compounds and products, and it's one of the world's largest lithium mining companies. It's, therefore, not surprising that the stock has fallen alongside lithium prices.

Continue reading

Source Fool.com