Thanks to the overwhelming popularity of meme trades along with the dramatic speculation in the major indices, you might assume that it’s difficult to find viable cheap stocks to buy under $20. To be fair, this isn’t the easiest task. But because of the radical changes in society, namely, the transition from a pandemic-impacted world to one in recovery, some opportunities exist.
Let’s take electric vehicles as an example. Over the last few years, EVs gained substantial acceptance, particularly among the households that could afford them. However, when the novel coronavirus breached our borders, you may have assumed that EV companies would litter the category of cheap stocks to buy. After all, who would want to purchase anything, let alone an expensive product like an EV during a cataclysmic crisis?
Instead, the EV market bounced higher in an arguably counterintuitive manner. First, thanks to unprecedented top-level action — and a rare glimmer of bipartisanship — the U.S. government pumped out stimulus checks directly to the American people. Further, a massive bump up in unemployment support buoyed consumer confidence. Therefore, spending increased, which meant that EV-based investments moved far away from being considered cheap stocks.
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