3 Cheap Stocking Stuffer Stocks to Buy Today

Looking for cheap stocks to send as gifts this year? Here are three top picks!

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When looking for top growth stocks, investors often turn to companies that trade at very expensive prices. However, there are great stocks that trade at much more affordable prices. This allows investors to buy shares while committing smaller amounts of capital. Buying cheap shares today could also serve as great stocking stuffers for your family and friends. After all, who wouldn’t want to receive a gift that gets better over the long run?

A play on the e-commerce industry

It’s clear that the e-commerce industry has grown significantly over the past year and a half. Consumers have been buying everything from clothing to electronics and now even groceries online. Despite the large increase in e-commerce penetration, the industry still has a long growth runway.

Take Goodfood Market (TSX:FOOD) for example. In 2017, the company recorded $20 million in sales. This past fiscal year, Goodfood boosted its total revenue to $379 million. That represents a CAGR of 108%! Despite that impressive growth, Goodfood is still a very small company in the grand scheme of things. It has managed to build 13 facilities across Canada, but the majority of those facilities don’t support on-demand service quite yet.

In fact, the company is hoping to establish on-demand service in Ottawa, Vancouver, and Quebec City in the near future. If it can pull that off, consumers may be persuaded to turn to Goodfood even more. This is an exciting company with a great track record and an attractive growth runway. Trading under $5 a share, cheap shares of Goodfood could be yours today!

This is a potential home-run stock

Growth investors should keep an eye on the telehealth industry. It’s a very new market with a lot of competition. However, the companies that emerge as industry leaders could generate outstanding returns over the next decade. WELL Health Technologies (TSX:WELL) is a leading player in the Canadian telehealth industry. It operates 77 primary health clinics, supports over 2,800 clinics on its EMR network, and offers 36 apps on its online marketplace.

Last year, WELL Health began its international expansion, focusing on the United States. Thus far, it has managed to establish a presence in the massive American healthcare industry via strategic acquisitions. This expansion provides WELL Health with more avenues for growth. It also makes me more of a believer in the company’s competitive ability moving forward.

Stocks in the telehealth industry are more of a risk, because of high levels of uncertainty. However, it’s tough to imagine WELL Health stock not being worth a lot more than the $5 it currently trades for, after another decade of growth.

Take advantage of this major discount

Earlier this month, Nuvei (TSX:NVEI)(NASDAQ:NVEI) was hit by a short report. Since its IPO in 2020, Nuvei has been one of the most prolific stocks in Canada. After its first day of trading, Nuvei had already made headlines when it closed the largest tech IPO in Canadian history. One year after achieving that accomplishment, the stock had gained more than 270%. However, investors didn’t take this short report very lightly. Since the report was released, Nuvei stock has lost about 54%.

It appears that investors are starting to realize that the short report was very off-base. Since hitting its lowest point after the release of the report, Nuvei stock has gained about 25%. Nuvei is an innovative company currently trading at a massive discount. It would be a good idea to jump on this opportunity.

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 Jed Lloren has no position in any of the stocks mentioned. The Motley Fool owns and recommends Nuvei Corporation. The Motley Fool recommends Goodfood Market Corp.

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