Although it's been a bumpy ride, shares of (NASDAQ: CROX) have more than doubled in the last three years. That impressive gain exceeded what both the S 500 and the Nasdaq Composite Index were able to return. 

But in 2023, investors have been hurting, and shares are down 17% as of Sept. 20. This underperformance relative to the major indexes presents a great opportunity. In fact, Crocs might be the best stock to buy for less than $100 right now. Here are three reasons. 

Crocs has been around for over two decades now, and despite that relatively long history, it hasn't been smooth sailing. The brand has fallen in and out of favor with consumers, and most notably, the business nearly entered bankruptcy in 2009 during the Great Recession. After monumental success in the early 2000s, Crocs overextended itself, and the company needed to right-size its operations. 

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Source Fool.com