Published on 21 Oct 2022 on Insider Monkey via Yahoo Finance
15 Best Single Digit Stocks to Buy Now
In this article, we discuss 15 best single digit stocks to buy now. If you want to read about some more single digit stocks, go directly to 5 Best Single Digit Stocks to Buy Now.
The United States job market has been one of the few bright spots in an otherwise bleak economy over the past few months, but the macro uncertainty has now even started to affect the jobs market outlook. According to an analysis by investment advisory Bank of America, nonfarm payroll gains are expected to be cut in half in the fourth quarter of 2022, slightly before they turn negative in early 2023. The bank also claims that during the first quarter of 2023, the US will be losing around 175,000 jobs a month.
Per Michael Gapen, the head of US economics at BofA, the US economy will sink into a recession in the first half of 2023. Investors who have loaded their portfolios with growth stocks are actively seeking for cover against the looming recession. In this scenario, it might be more prudent to invest in big value-friendly names and smaller growth stocks to balance the growth and value ratio in portfolios. Some of the best single digit stocks to buy in this context include ADT Inc. (NYSE:ADT), Archer Aviation Inc. (NYSE:ACHR), and Ambev S.A. (NYSE:ABEV).