In this article, we will take a look at the 11 best all-time low stocks to buy now. To see more such companies, go directly to 5 Best All-Time Low Stocks To Buy Now.
Investors should buy when the market is down and sell when the market is showing signs of peaking. You might have heard this mantra several times now and it has become a cliché. But it’s the truth. Despite heavy losses and seemingly endless market downturns, market experts believe now might be the right time to pile into solid stocks for long-term gains. According to a CNBC report, Jeffrey Hirsch, a market historian and publisher of the Stock Trader’s Almanac, believes the market decline recorded in the first three quarters of 2022 provided a solid entry point for investors. The analyst has data from history to back his claim. He says that since 1946, the S&P 500 has gained an average of 28.2% over the next five quarters after declining for the first three quarters of a calendar year.
“We think the market is setting up for the best buying opportunity of the 4-Year Cycle,” Hirsch reportedly said.
While recession warnings and layoffs dominate the news these days, there are some notable experts who think the market would begin to turn the corner in 2023. According to Bloomberg, famous investment firms including Goldman Sachs Group Inc., JPMorgan Chase & Co. and UBS Asset Management believe that the stock market in 2023 could bring “big gains” for investors if they get the market right. Their optimism comes from the easing inflation that is evident from data coming from the US as well as from global markets. Similarly, Deutsche Bank AG expects the S&P 500 Index to jump to 4,500 in the first half of 2023 before registering a 25% decline in the third quarter. However, the bank said during the last quarter of the year the index would again rebound to 4,500.
Our list includes notable names like Coinbase Global, Inc. (NASDAQ:COIN), Rivian Automotive, Inc. (NASDAQ:RIVN) and Lyft, Inc. (NASDAQ:LYFT). Most of the stocks in our list have lost over 70% in value over the past 12 months. Why do we call them “best” all-time low stocks? Some of these companies are taking drastic measures to turn things around in 2023 while others are just poised to grow based on their long-term growth catalysts.
Our Methodology
For this article we picked some notable stocks that touched their all-time lows but have some promising catalysts that can push their stock price higher. Some of these stocks touched their all-time lows a few months back and haven’t recovered much since, while others fell to their all-time lows recently. We have also mentioned the number of hedge funds having stakes in each of these stocks and ranked the list based on the same metric.
Best All-time Low Stocks To Buy Now
11. Cerberus Cyber Sentinel Corporation (NASDAQ:CISO)
Number of Hedge Fund Holders: N/A
Cerberus Cyber Sentinel Corporation (NASDAQ:CISO) is operating in a market whose value could touch $2 trillion in value. The cyber security company, which will soon change its name to CISCO Global, could face a rising demand for its products as companies pour huge investments to solidify defenses of their online assets. Cerberus Cyber Sentinel Corporation (NASDAQ:CISO) recently agreed to buy RAN Security, a cybersecurity company with headquarters in Buenos Aires, Argentina, and offices in Chile, Peru, Bolivia, and Paraguay.
10. OceanPal Inc. (NASDAQ:OP)
Number of Hedge Fund Holders: 3
OceanPal Inc. (NASDAQ:OP) is a shipping transportation services provider. The penny stock, trading at around $1 as of January 11, has lost 90% of its value over the past 12 months. In December, OceanPal Inc. (NASDAQ:OP) delayed the implementation date of its reverse stock split due to a delay in getting the necessary regulatory approval.
OceanPal Inc. (NASDAQ:OP) is a high-risk stock suitable for only those investors that have a higher risk appetite and those who can wait. OceanPal Inc. (NASDAQ:OP) is operating in the global freight market which was expected to reach a size of $30,916.35 million in 2022, from $28.66 billion in 2021.
3 hedge funds in Insider Monkey’s database have stakes in the company. Jim Simons’ Renaissance Technologies has a $4,000 stake in OceanPal Inc. (NASDAQ:OP) as of the end of the September quarter.
9. Virgin Orbit Holdings, Inc. (NASDAQ:VORB)
Number of Hedge Fund Holders: 10
Richard Branson’s Virgin Orbit Holdings, Inc. (NASDAQ:VORB) is down to all-time lows after the company’s recent launch of satellites failed. Virgin Orbit Holdings, Inc. (NASDAQ:VORB)’s CEO said that the nature of the mission added “layers of complexity” that prevented the company’s satellites from entering the final orbit. It’s highly likely that the company would begin to work on future launches and eventually get success. For 2023, Virgin Orbit Holdings, Inc. (NASDAQ:VORB) has seven launches scheduled. It launches rockets from modified Boeing 747, a technique which is praised by industry experts for its ambitiousness.
Virgin Orbit Holdings, Inc. (NASDAQ:VORB) could be a good investment for those who want to bet on the commercial space industry. A total of 10 hedge funds in Insider Monkey’s database had stakes in Virgin Orbit Holdings, Inc. (NASDAQ:VORB) as of the end of the third quarter.
In addition to Coinbase Global, Inc. (NASDAQ:COIN), Rivian Automotive, Inc. (NASDAQ:RIVN) and Lyft, Inc. (NASDAQ:LYFT), VORB is one of the best all-time low stocks to buy now.
8. PLBY Group, Inc. (NASDAQ:PLBY)
Number of Hedge Fund Holders: 10
Media and lifestyle company PLBY Group, Inc. (NASDAQ:PLBY) has lost about 90% in value over the past year. PLBY Group, Inc. (NASDAQ:PLBY) in December launched an attractive common stock rights offering. PLBY Group, Inc. (NASDAQ:PLBY) is expected to receive gross proceeds of $50 million, less expenses, related to the rights offering. Under the offering PLBY Group, Inc. (NASDAQ:PLBY) will distribute a non-transferable subscription right to purchase 0.30681187 of a share to all shareholders of at least four shares as of December 16, at a subscription price of $3.50 per whole share. The intention of the offering is to raise money. A major chunk of the company’s revenue comes from merchandise sold on its website. More than half of its revenue comes from women and PLBY Group, Inc. (NASDAQ:PLBY) is targeting the lucrative audience base of millennial and Gen Z customers.
A total of 10 hedge funds tracked by Insider Monkey reported having stakes in PLBY Group, Inc. (NASDAQ:PLBY). As of the end of the third quarter, Michael Novogratz’s Fortress Investment Group owns a $7.3 million stake in the company.
7. Erasca, Inc. (NASDAQ:ERAS)
Number of Hedge Fund Holders: 10
Erasca, Inc. (NASDAQ:ERAS) is a California-based biotech company. Erasca, Inc. (NASDAQ:ERAS) is near all-time lows but could rebound in the future. In December, the biotech company got a go-ahead from the FDA for its investigational new drug (IND) application for oral drug, ERAS-3490, to treat KRAS G12C-mutated solid tumors, including non-small cell lung cancer. The treatment shows anti-tumor activity and dose-dependent survival benefit in the KRAS G12C NSCLC intracranial model NCI-H1373-luc, a nonclinical model of NSCLC CNS metastases.
10 hedge funds tracked by Insider Monkey had stakes in Erasca, Inc. (NASDAQ:ERAS) as of the end of the third quarter. Among the biggest stakeholders of the company are Bihua Chen’s Cormorant Asset Management, Christopher Medlock James’ Partner Fund Management and David Witzke and Michael Gregory’s Avidity Partners Management.
6. Dave Inc. (NASDAQ:DAVE)
Number of Hedge Fund Holders: 10
California-based digital banking service Dave Inc. (NASDAQ:DAVE) has lost 95% of its value of the past 12 months. Earlier this month, the company’s board approved a 1-for-32 reverse stock split of Dave Inc. (NASDAQ:DAVE)’s Class A and Class V common stock groups. Despite its short-term problems, Dave bulls believe the company is operating in a high-growth market with huge upside potential. In the third quarter, Dave Inc. (NASDAQ:DAVE) beat its revenue growth estimates and reported a 26% YoY growth in its monthly transacting members
The fintech industry in which Dave Inc. (NASDAQ:DAVE) is operating is expected to grow at a CAGR of 17.2% and reach $949 billion by 2030. As of the end of the third quarter, 10 hedge funds tracked by Insider Monkey reported having stakes in Dave Inc. (NASDAQ:DAVE).
In the next part of this article we will take a look at some other important stocks, including Coinbase Global, Inc. (NASDAQ:COIN), Rivian Automotive, Inc. (NASDAQ:RIVN) and Lyft, Inc. (NASDAQ:LYFT), that are expected to grow in the long term.
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Disclosure: None. 11 Best All-Time Low Stocks To Buy Now is originally published on Insider Monkey.