The good thing about the recent market decline is that it has helped to create great opportunities for investors. Indeed, there are now numerous stocks that are a lot cheaper than they were just six months to one year ago. Those searching for bargains in the market should not have a lot of trouble hitting the mark.
But just in case you need a little inspiration, here are two stocks that are currently trading close their 52-week lows: Meta Platforms and Trulieve Cannabis. Here is why their shares are worth buying right now, especially at their current levels.
1. Trulieve Cannabis
Last year, Owen Bennett said pot stocks in the U.S. are a generational wealth builder. Bennett also said he believed retail marijuana sales in the United States would hit the $64 billion mark by year 2030 — up from $17.2 billion in year 2020 — and one of the stocks that he suggests you should cash in on is Trulieve Cannabis. This medical marijuana company is a top player in Florida, but it also has a presence in 10 additional states, with 159 retail dispensaries throughout the country as of early Jan.
Trulieve Cannabis has had a more disciplined and careful strategy than many of its competitors in the cannabis industry, many of which have splurged on acquisitions with the hope of dominating the markets. Meanwhile, Trulieve Cannabis first established a strong footprint in Florida — becoming one of the top players in the marijuana industry in Florida — before greatly boosting its footprints throughout the country, thanks in part to a certain acquisition.
The marijuana grower has consistently achieved profitability while also establishing a broader network throughout the U.S. than any of its competitors. In its third quarter, Trulieve marijuana’ revenue skyrocketed by 64% to $224.1 million. The company’s net earnings came in at $18.6 million, which was 7% higher than the year before.
2. Meta Platforms
First, Meta Platforms has been boosting its efforts to add e-commerce to its many apps. Meta’s giant ecosystem of 2.91 billion monthly active users is something merchants would not want to ignore. That is why Meta Platforms hopes to bring businesses onto Instagram and Facebook by letting them set up online stores on these popular platforms.
Of course, the ambitions of Meta Platforms have been a hot topic for the past year. The metaverse is an immersed, parallel, virtual world people will be able to enter thanks to virtual reality devices, in which they can interact with each other and their environments.
Eric Sheridan, an analyst from Wall Street, believes the metaverse might be an $8 trillion investment opportunity. That is huge. And if it is even remotely close to accurate, those businesses leading the charge into this massive market space will be greatly rewarded somewhere in the future– along with their shareholders.
Meta Platforms is already a leader in virtual reality thanks to Oculus, and it is investing a lot of money into developing the metaverse. In Q1, Meta Platforms’ reality labs revenue, rose by 22.3% to $877 million.
Meta Platforms’ recent dip is an excellent buying opportunity for investors who have bought into Meta’s vision of the future.