SWK - 2 Magnificent Stocks to Buy That Are Near 52-Week Lows
2024-07-11 07:35:00 ET
Wall Street is a fickle place, with investors often punishing stocks harshly for what might seem like small transgressions. That's why some people take a contrarian view, actively trying to find investment opportunities that other investors have rejected. A good place to look for such ideas are stocks that have fallen near 52-week lows. Stanley Black & Decker (NYSE: SWK) and Nucor (NYSE: NUE) are worth a closer look right now.
Stanley Black & Decker's stock price is within striking distance of its 52-week low. But the story here goes back much further than a single year. It starts in 2021, when the toolmaker posted record results thanks to a spike in demand driven by the coronavirus pandemic. Essentially, people stuck at home decided they wanted to spruce up their places. The company's adjusted earnings clocked in at $10.48 per share for the year.
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2 Magnificent Stocks to Buy That Are Near 52-Week Lows