The market is going through a correction phase right now. Couple that with a raging Ukraine war and you have the ultimate buying opportunity. With that, what five stocks are the perfect chance to double your money?
Meta Platforms: Sitting at $200.06 per share, Meta Platforms might seem overpriced at first glance. This is especially true after their EPS was down by 4% for the fourth quarter of 2021. However, when you look at how much they've invested in the metaverse (it's in the name, after all), their revenue ($33.67 billion, up 19.95% from last year), and their market cap ($544.55 billion), you can't deny that Meta is ripe to grow.
Alibaba: The Chinese e-commerce company has taken a massive hit in the past year, plummeting as low as $100.60 while falling by 57%. It's even earned the moniker as the "cheapest company in the world" outside of Russia. However, their market cap ($273.45 billion) is sizable and they have a huge global presence. While the Chinese government has cracked down on tech companies, a company with at least 25% sales growth over the past four years can't be ignored.
Occidental Petroleum: Warren Buffett, the king of value stocks and the market, and Berkshire Hathaway recently bought $5 billion of this stock. The price ($56.15) is enticing enough to buy. But the oil company has also increased its dividend, making this a good purchase for value seekers. On top of that, the Houston-based business announced a $3 billion share repurchase program.
Peabody Energy: So you're asking what this company is about? What does Peabody do (not Sherman)? Well, this St. Louis-based business specializes in the energy field, too. It also has a friendly PE ratio (8.20) and is going to benefit from current events. The company also shattered its EPS, more than doubling its number with 3.93 EPS for Q4 of 2021.
Alphabet: Consider this: even at its outrageous price ($2,638.13), the company's scope is massive. From Google to YouTube and their strong ad revenue, you can't pass up this golden opportunity. Plus, they announced a 20-for-1 stock split in July. This will give retail investors a chance to buy into the company, adding even more value.