Because initial findings suggest the COVID-19 omicron variant may be less lethal than anticipated, the market is expected to maintain its long-term uptrend. So, we think it could be wise to bet on cheap yet quality stocks Teva Pharmaceutical (TEVA), Himax Technologies (NASDAQ:HIMX), YPF Sociedad Anónima (YPF), and LexinFintech Holdings (LX). They are each currently trading at affordable prices. So read on for a closer examination of these names.The newly identified COVID-19 omicron variant has dampened investor sentiment, with global markets showing weakness. However, with initial findings suggesting the effects of the variant may be mild, experts believe it will not halt the U.S. economic recovery. According to Marc Chandler, chief market strategist at Bannockburn Global Forex, “People feel a bit more confident that while the new variant might be highly contagious, it looks like so far the conditions are mild.”
In addition, concerning the mildness of the variant’s effects, Investor Bill Ackman said, “If this turns out to be true, this is bullish, not bearish for markets.” This represents a positive outlook for the overall market at this juncture, and thereby, quality stocks trading at affordable prices could be wise bets now.
Fundamentally strong stocks Teva Pharmaceutical Industries Limited (NYSE:TEVA), Himax Technologies, Inc. (HIMX), YPF Sociedad Anónima (YPF), and LexinFintech Holdings Ltd. (LX), are currently trading at less than $15 per share and could be potential outperformers.