We’re having a look at some cheap stocks that could present some future gains.
Listed below are some well-known names that have seen big figures before; however, in their current state, you may not have thought that.
But sometimes a lull presents an opportunity, so here are 3 cheap stocks to check out!
Cheap Stocks 1: Groupon (NASDAQ:GRPN)
At the time of writing, Groupon shares are cheap stocks. At $3.44, they may prove to be a good investment yet.
However, some could argue that if this stock was going to do anything special, it would have done so by now. This is because GRPN stock has been on a steady decline since it started listing in 2011.
At that time, shares were worth over $26. In the last seven years, Groupon has failed to come anywhere near that price again. At best, it has repeatedly hit around the $10 mark.
However, the company now claims to be in “improvement mode,” and there’s no denying that e-commerce is as hot as it ever was. All it takes is for Groupon to hit on a new avenue for its service, something which could regain popularity in its cheap stocks. If Groupon turns it around, then its stocks could skyrocket again.
However, on the other hand, a continuous decline over seven years could just be a long goodbye.
Cheap Stocks 2: Fitbit (NYSE:FIT)
In July 2017, Fitbit stock was worth $47.60. At the time of writing, FIT shares are valued at $4.72. Now that is some decline… and in only one year.
However, if I was an early investor into Fitbit, I would hold my stock. Fitbit is simply too new to give up on its future potential, and some might even consider this an opportune moment to buy in.
However, the more cynical of us may just see Fitbit stock for what it was… 2017’s top fad.
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Cheap Stocks 3: Castle Brands (NYSE:ROX)
Castle Brands has always represented cheap stocks. At its highest, this stock was still only valued at $9.
But $9 is nine-times its current value of $1.
There are a lot of things you can buy with $1. But very few of those will have the potential to bring you more dollars in the future. ROX has been a consistently cheap stock but has doubled on more than one occasion in the past. Also, keep in mind that the company still reports small but important revenue gains.
If Castle Brands can get acquired by a larger drinks company alá Diageo or Constellation Brands, then this could be a game changer. At $1 a stock, there is not much to lose, but potentially a lot to gain.
Pinch of Salt
As always, our look at cheap stocks is simply that… a look! By no means take any of these words as gospel and do indeed conduct your own thorough research before investing in any cheap stocks.
Featured Image: Depositphotos/© seewhatmitchsee
