If you're a bargain hunter, there are some deeply discounted stocks you might want to consider buying right now. These stocks aren't trading at just 52-week lows, they are trading at multiyear lows. They haven't been trading at these levels in more than five years -- and some have never been this low.

Of course, there is a risk that comes with these stocks. They are trading down for good reasons, but there's also a lot of potential upside. Ultimately, it can come down to how much risk you're willing to tolerate.

Grocery Outlet (NASDAQ: GO), Dollar General (NYSE: DG), and Spirit Airlines (NYSE: SAVE) are three cheap stocks right now for various reasons. Are they worth a closer look as turnaround plays?

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Source Fool.com