For all the talk of a possible correction being underway, there isn’t really much to show for it with the S&P/ASX 200 (INDEXASX: XJO) down only 2.7% in the last month.
In fact in the last five trading days the index has actually gained 1.6%. Some correction!
Perhaps a relief rally is underway already, perhaps it’s the calm before the storm, or perhaps it’s onwards and upwards to 6,000 points!
Whatever the situation, the increased volatility has seen a swath of companies sold down with their share prices now at 52-week lows.
A list of stocks that are trading at their cheapest level in a year sounds to me like a happy hunting ground for prospective investment opportunities.
Here are three stocks which I plan to investigate further.
UK-based fund manager Henderson Group plc’s (ASX: HGG) share price has fallen from a high of $4.87 earlier in the year to $3.41 last week. The group recently completed a major acquisition which added $5.4 billion in assets under management to the group.
Shareholders in online lotteries provider Jumbo Interactive Ltd (ASX: JIN) have watched as the stock has fallen 53% in the past 12 months. In fact, the shares are now trading at levels last seen in mid-2012, a point which could make for a reasonable entry level if you believe there is growth ahead for the firm and considering Jumbo reported roughly flat year-on-year profits.
The wild ride for XERO FPO NZ (ASX: XRO) shareholders continues! Having soared from less than $5 to nearly $43 in the space of a year-and-a-half the stock price has since plummeted over 60% since March. XERO continues to grow its customer base and its cloud-based accounting software product and market position remains appealing.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article. The Motley Fool owns shares in Xero.
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