Don't let the S 500's soaring valuation and record levels convince you that all or even most stocks are expensive right now -- that's far from the case. There are some stocks trading at significantly reduced valuations which could make them enticing buys, especially if you're planning to hold on for the long haul.

Three stocks which you can buy on sale today and that have promising growth prospects include Tesla (NASDAQ: TSLA), Snowflake (NYSE: SNOW), and Shopify (NYSE: SHOP). Here's why investing $5,000 into these stocks can be a good move to make right now.

Electric vehicle (EV) maker Tesla used to be a $1 trillion company. Today, its valuation sits at just under $600 billion. There are plenty of reasons to be bearish on the business -- its margins are shrinking, competition is intensifying, and the stock still isn't cheap, trading at more than 45 times its trailing earnings.

Continue reading

Source Fool.com