3 Stocks That Are Absurdly Cheap Right Now
If you jump on the bandwagon of a stock that's been rising sharply in value, you can run the risk of buying a company that's overpriced -- or one that's just not a good investment. But if you go against the grain and look for stocks that hordes of investors aren't crazy about, you'll be more likely to find some bargains.
Pfizer (NYSE: PFE), ViacomCBS (NASDAQ: VIAC), and Bank of America (NYSE: BAC) are all underperforming the S&P 500, which is up by more than 6% this year -- but that doesn't mean they're bad investments. On the contrary, now could be a great time to buy these companies, as they're cheap and possess lots of potential growth.
A big reason Pfizer is an attractive buy is that it's working on a COVID-19 vaccine with BioNTech; phase 3 trials began in July, and the results could be available before the end of the year. It's also one of the safer healthcare stocks to invest in. Unlike some pure-play vaccine makers, it doesn't present a lot of risk for investors if it fails to develop a successful vaccine -- either way, Pfizer still makes for a great long-term investment. And if its vaccine candidate is successful, it could stimulate lots of bullishness (not to mention billions of dollars in additional revenue) and send the stock on a positive trajectory -- it's currently down 6% year to date.
Source Fool.com
