Source: akamakis / Shutterstock.com Undervalued stocks are getting Wall Street’s attention after rapid declines seen in 2022. The market correction has been particularly noteworthy for the tech-heavy Nasdaq 100 , down almost 10% year-to-date (YTD). As a result, there are now bargains to buy high-quality shares at a discount. Against this backdrop, this article discusses seven undervalued stocks to consider after the sell-off.
Recent research by Baruch Lev of the Stern School of Business, New York University, and Anup Srivastava of the Haskayne School of Business, University of Calgary, highlights , “Value investing is about finding diamonds in the rough by going long on low-valued (“value”) stocks… The value investment strategy yielded excess (abnormal) returns for decades…”
Therefore, the recent drop on Wall Street has pushed robust names to prices not seen in many months. Today’s list of undervalued stocks could primarily appeal to those investors looking for value-style growth names with solid fundamentals.
With that said, here are seven undervalued stocks to buy that have significant potential to beat the market in 2022. Undervalued Stocks: Coinbase Global (COIN)
52-week range: $162.20 – $429.54
Crypto exchange Coinbase Global went public in April 2021. Since its launch a decade ago in June 2012, it has reached about 75 million users . Coinbase generates the bulk of its revenue from transaction fees on digital assets. While Bitcoin ( BTC-USD ) is the most important crypto for the company, traders have access to around 50 digital assets.
Recent metrics suggest that around half of global trading in Bitcoin happens on Coinbase. Meanwhile, non-fungible token (NFT) enthusiasts are excited that Coinbase plans to launch an NFT platform soon.
The company released third-quarter 2021 results in early November. Revenue soared 330% year-over-year (YOY) to $1.23 billion. Net income increased to $406 million, or $1.62 per diluted share, up from $81.3 […]
I am a robot. This article is curated from another source (e.g. videos, images, articles, etc.). For the complete article please use the link provided to visit the original source or author. Content from other websites behaves in the exact same way as if the visitor has visited the other website.
Warning: The views and opinions expressed are those of the authors and do not necessarily reflect the official policy or position of MichelPaquin.com.