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2 Stocks Under $50 to Buy Right Now

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Stock market investing is not the easiest way to earn money, but those who can figure it out can enjoy significant success in terms of meeting their financial goals. Many prospective investors find stock market investing an overwhelming task and assume that having substantial investment capital is necessary to become a successful stock market investor.

It is always possible to start with small capital, invest it in high-quality Canadian growth stocks, and keep increasing positions in your winning bets as your wealth grows. Gradually, you can build a diversified portfolio of stocks that can make you a wealthier investor.

If you have been following the market news, you might know that the overall stock market is trading at historically high values. When the market is trading near its all-time highs or setting new records, it can be challenging to find companies that have shares trading at reasonable prices, but it is not impossible.

Do you have as much as $50 to invest? If so, I will discuss two high-quality stocks that are still trading for a reasonable price and have excellent growth potential. You could consider investing in the two companies and remaining invested for a long time to see your wealth grow.

WELL Health Technologies

WELL Health Technologies (TSX:WELL) is a company that has been around for a while, but it became popular among investors last year, as the telehealth industry boomed during the pandemic. The telehealth stock saw gains of 412% in 2020, with very few stocks delivering similar returns. However, the stock has failed to deliver the same growth in 2021.

On a year-to-date basis, WELL Health Technologies stock is down by 5.35%. As global economies get their hopes up for re-openings, it is understandable to see investors losing interest in telehealth industry companies. The industry will continue to play a major role in the future, and the recent weakness could just be a cooldown period after a massive 12 months last year.

Trading for $7.43 per share at writing, WELL Health stock could be a bargain for investors right now.

Algonquin Power & Utilities

Algonquin Power & Utilities (TSX:AQN)(NYSE:AQN) belongs to the utility sector. The $10.34 billion market capitalization stock might not have delivered the same growth as WELL Health in 2020, but it is an asset that you can depend on for consistent returns. The utility provider generates predictable revenues that can continue to deliver reliable returns to its shareholders regardless of volatile market conditions.

The stock might not provide much in terms of excitement for investors right now. However, it has every potential to deliver market-beating growth in the coming years. The renewable energy sector is slated to boom in the coming years.

Trading for $19.25 per share at writing, Algonquin Power & Utilities stock boasts a juicy 4.40% dividend yield. The stock is down by 7.36% on a year-to-date basis, and it could be the right time to buy its shares before it grows significantly in the coming years.

Foolish takeaway

Considering the industry conditions for Algonquin Power & Utilities and WELL Health Technologies stock and the potential that each of them has for growth, it might be the ideal time to buy shares of the two companies and hold onto them for the long run. Barring any major negative developments, both assets can provide you with the opportunity to generate long-term and significant wealth growth in your investment portfolio.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

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