With the Dow Jones today trading at $31,261, new investing opportunities arise when old ones disappear. Suddenly, a stock that has been a stalwart of your portfolio for years is no longer trading. And that’s OK. New opportunities are made available all the time. This is especially true after a significant market correction like we experienced in October 2021. While this sent fear and panic through the investing world, it also left behind some great stocks to buy now. Amazon stock forecast today is $3,680, Tesla stock forecast today is $976.82, PayPal stock forecast today is $124.27.
These 4 Stocks to Buy Now are all companies you may have heard of before but whose stock prices dropped and presented an excellent opportunity for investors to buy in at bargain prices. Whatever type of stocks you prefer – growth, value, small-cap, or something else – there’s probably a good company whose shares you can buy at a discount.
Chipotle Mexican Grill stock (NASDAQ:CMG)
Chipotle Mexican Grill’s stock price decline wasn’t just a one-time thing. It came after a series of disappointing earnings reports and has been followed by a further decline in CMG stock. Based on the stock’s low price and the company’s strong fundamentals, buying CMG stock now could be a great investment decision. Chipotle has struggled in recent years after a series of foodborne illness outbreaks. It has been working to regain customer confidence and repair its business. The company’s stock is still down significantly from its peak in 2014, just before the first of these outbreaks began. But it has nearly recovered from its low point earlier this year. Now maybe a good time to buy this stock. The company has reported three straight profitable quarters. CMG stock has been rising as its fundamentals improve.
Shopify stock (NASDAQ:SHOP)
Shopify Inc.’s stock price dropped as much as 24% following the company’s October earnings report. Investors were disappointed that the company’s overall revenue and profit were below analysts’ expectations. Despite a strong growth rate, the company’s revenue had been growing even faster in previous quarters. And Shopify’s stock had already dropped significantly in the weeks leading up to the report. It fell again after the report. But it remains far above its price just a year ago. Based on its fundamentals and its current low price, now could be a great time to buy SHOP stock. It makes software to help merchants create their online stores and manage their sales. Shopify provides back-end tools that allow retailers to process payments, manage inventory, and track sales. The company’s stock surged after its initial public offering in 2021 but has fallen since investors have been disappointed by its growth rate and profit. Shopify remains a solid company and has been investing in growing its business. It remains a great company to buy now, especially given its low price.
BlackBerry stock (NYSE: BB)
BlackBerry Ltd.’s stock price dropped as much as 48% following the company’s October earnings report. The report highlighted slowing sales growth, weakness in the company’s software and services business, and declining cash flow. Now could be a great time to buy BB stock based on its current low price. BlackBerry is best known for its smartphone, which was popular before the iPhone was introduced. The company has recently shifted its focus to enterprise software and security services. BlackBerry’s stock skyrocketed after the company’s first report as a public company. But it has fallen sharply since then, reflecting the company’s struggles and the broader decline in the stock market. BlackBerry’s fundamentals remain strong, though. It remains a profitable company and generates a lot of cash. And it is partnered with a couple of major tech companies to develop new software and services. As a result, BlackBerry is a good stock to buy now, given its low price.
Autodesk stock (NASDAQ: ADSK)
Autodesk Inc.’s stock price dropped as much as 27% following the company’s October earnings report. The report showed growing revenue but an unexpected decline in profit. Investors were also disappointed by the company’s revenue forecast for the current quarter. They also expressed concern about Autodesk’s heavy reliance on a single software product. Based on its low price, now could be a great time to buy ADSK stock. Autodesk is a major software company for engineers, architects, and design professionals. The company’s core products are software used to design buildings and other large structures, computer-assisted design software, and other software used to make accessories and other products. The company’s stock soared after its IPO but has fallen since then. However, it remains a profitable company and generates a lot of cash. And its stock is now trading at a low price. Therefore, Autodesk is a good stock to buy now, especially given its low price.
Conclusion
Investing is never easy, but it can be easier when you know what to buy. These 4 best stocks to buy now make sense as good stocks to buy right now. And they’re a good example of how stocks fall and rise over time. There is no such thing as a bad stock. It’s just that some stocks are better than others at different points in time. So when you find a stock that offers a good combination of risk and reward and whose shares are trading at a low price, buy it. You may not know how or when it will reward you, but you can be sure it will.
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