EXEL - 2 Stocks Under $30 to Buy and Hold
2024-02-19 08:00:00 ET
What is a reasonable sum of money to start investing in stocks? $10,000? $1,000? $500? The truth is, thanks to online brokers who now offer trades at low or no fees and fractional shares, investors can get their skin in the game at almost any price.
However, for those who prefer acquiring at least one whole share of a company, there are exciting corporations whose stock prices are well below $30. Let's consider two examples: Exelixis (NASDAQ: EXEL) and Adyen (OTC: ADYE.Y) . Here's why these stocks are worth buying and holding onto for a while.
Exelixis is a biotech that focuses on developing cancer drugs. The company owes most of its revenue to just one medicine, Cabometyx, which treats certain forms of liver and kidney cancer. Cabometyx has been a bit of a "pipeline in a drug," constantly grinding out new indications and delivering stronger revenue. Last year, Exelixis' top line increased by 13.6% year over year to $1.8 billion. The company's earnings per share of $0.65 was roughly 16% higher than the previous fiscal year.
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2 Stocks Under $30 to Buy and Hold