Some cheap stocks deserve to be cheap. When your business is bad, your stock price should be down. But every once in awhile, you can find high-growth stocks in the cheap seats: amazing companies with wonderful business models that are undervalued by the market. When you find a company that excites growth investors and makes value investors happy, that's a stock you want to investigate.
Here are two companies that are surprisingly cheap right now. Farfetch (NYSE: FTCH), the high fashion e-tailer, is down 56% from its initial public offering (IPO) despite its amazing growth rates. And one of the high-flying growth stocks of the last decade, Jazz Pharmaceuticals (NASDAQ: JAZZ), is now officially a value stock that is cheap across every metric.
Is it time to buy?