8 Best Stocks to Buy Under $50 in 2023

1. DraftKings – A leader in sports betting in the US

DKNG Stock Price (1-Year Change): $43.88 (+33.17%)
CoinCodex 1-Year Prediction: $104.82 (+149.87%)
Technical Analysis Rating: Strong Buy

Why we picked it?

DraftKings, a leader in digital sports entertainment and gaming, offers a unique blend of daily fantasy sports, sports betting, and online casino games. The expanding sports betting industry, particularly as more states and countries legalize it, creates new markets and customer bases. DraftKings, with its focus on technology and user engagement, is well-positioned for innovation-driven growth.

Over the past twelve months, DraftKings generated $1.23 billion in gross profit on $3.3 billion in revenue. The company is gradually building the foundation for a highly profitable operation, as evidenced by the over 36% growth in earnings per share (EPS) during the same period. However, it’s important to note that DraftKings posted a net income loss of $1 billion in the past year.

DraftKings Inc. (DKNG)
$43.88 (+33.17% in the past 1 month)

Past 1M, 24H, 7D, 1M, 3M, 6M, YTD, 1Y, 3Y, 5Y, ALL
Market Cap: $20.46B
Volume: $10.56M
PE Ratio: -20.22
All-Time High: $73.93

2. Intel Corporation – A US-based chip-making giant

INTC Stock Price (1-Year Change): $44.19 (-6.22%)
CoinCodex 1-Year Prediction: $64.78 (+51.46%)
Technical Analysis Rating: Buy

Why we picked it?

Intel Corporation, a global leader in the technology sector, is renowned for its innovative development and manufacturing of microprocessors and semiconductor chips. With a history dating back to 1968, Intel’s products play a crucial role in the functioning of computers and data centers worldwide. The company is at the forefront of technological innovation, focusing on areas like artificial intelligence, 5G network transformation, and autonomous driving.

Intel is strategically positioned in the rapidly growing AI market, projected to exceed $1 trillion by 2030. The company is investing heavily in new AI GPUs and processors and is building chip manufacturing facilities in the US, including a significant $20 billion investment in an Ohio plant.

Intel Corporation (INTC)
$44.19 (-6.22% in the past 1 month)

Past 1M, 24H, 7D, 1M, 3M, 6M, YTD, 1Y, 3Y, 5Y, ALL
Market Cap: $186.84B
Volume: $33.24M
PE Ratio: 110.48
All-Time High: $63.86

3. United States Steel – A US producer of steel

X Stock Price (1-Year Change): $45.64 (-3.71%)
CoinCodex 1-Year Prediction: $64.33 (+41.38%)
Technical Analysis Rating: Buy

Why we picked it?

United States Steel Corporation, commonly known as U.S. Steel, is a major American integrated steel producer with significant production operations in the United States and Central Europe. Founded in 1901, U.S. Steel has played a crucial role in the expansion of the steel industry in the U.S. and is a key player in the country’s industrial sector.

U.S. Steel is strategically investing in production facilities to capitalize on increased demand for steel. The company is well-positioned to benefit from the United States’ plans to revitalize infrastructure using American-made steel and the anticipated global demand recovery for steel.

United States Steel Corporation (X)
$45.64 (-3.71% in the past 1 month)

Past 1M, 24H, 7D, 1M, 3M, 6M, YTD, 1Y, 3Y, 5Y, ALL
Market Cap: $10.21B
Volume: $2.11M
PE Ratio: 12.82
All-Time High: $170.65

4. Marathon Digital Holdings – A leading Bitcoin mining company

MARA Stock Price (1-Year Change): $29.41 (+54.95%)
CoinCodex 1-Year Prediction: $100.53 (+504.14%)
Technical Analysis Rating: Buy

Why we picked it?

Marathon Digital Holdings is a prominent cryptocurrency mining company, focusing on the blockchain ecosystem and digital asset generation. Originating as an IP licensing and management company in 2010, it pivoted to cryptocurrency mining in 2017 and currently operates extensive mining operations, leveraging advanced technologies for efficient Bitcoin mining.

Marathon aims for substantial growth in its hash rate, targeting 50 exahashes in the next 18 to 24 months. This increase is expected to enhance Bitcoin production capacity, potentially positively impacting future revenue and profitability. With a significant market share among public Bitcoin mining firms, Marathon Digital stands out as a high-beta trading instrument for investors seeking exposure to Bitcoin.

Marathon Digital Holdings, Inc. (MARA)
$29.41 (+54.95% in the past 1 month)

Past 1M, 24H, 7D, 1M, 3M, 6M, YTD, 1Y, 3Y, 5Y, ALL
Market Cap: $6.55B
Volume: $76.98M
PE Ratio: -9.55
All-Time High: $179.52

5. Palantir Technologies – A big data-focused firm

PLTR Stock Price (1-Year Change): $25.19 (+50.30%)
CoinCodex 1-Year Prediction: $22.97 (+38.78%)
Technical Analysis Rating: Strong Buy

Why we picked it?

Palantir Technologies is a public American software company specializing in big data analytics. Established in 2003, Palantir develops software that integrates, manages, and secures data from various sources, widely used in government, finance, and health sectors. Palantir’s effective marketing strategy and the success of its Artificial Intelligence Program (AIP) contribute to expected customer growth and rapid revenue expansion.

The technical analysis, denoted as a “Strong Buy,” is supported by growing revenue and net income, along with a high research and development ratio exceeding 18%.

Palantir Technologies Inc. (PLTR)
$25.19 (+50.30% in the past 1 month)

Past 1M, 24H, 7D, 1M, 3M, 6M, YTD, 1Y, 3Y, 5Y, ALL
Market Cap: $54.81B
Volume: $96.20M
PE Ratio: 279.89
All-Time High: $44.55

6. Harmony Gold Mining Company – A leader in gold mining

HMY Stock Price (1-Year Change): $5.50 (-6.30%)
CoinCodex 1-Year Prediction: $7.41 (+20.04%)
Technical Analysis Rating: Buy

Why we picked it?

Harmony Gold Mining Company Limited, established in 1950, is a South African gold mining and exploration company. Operating in South Africa and Papua New Guinea, Harmony focuses on gold extraction and related activities. The company demonstrates strong price performance and favorable valuation metrics compared to competitors, with lower forward-looking P/E GAAP, EV/EBITDA, and EV/sales ratios.

With a net income of $269 million and earnings per share of $0.44 in the past 12 months, Harmony Gold Mining Company presents a potential investment opportunity, especially with its comparatively low stock volatility.

Harmony Gold Mining Company Limited (HMY)
$5.50 (-6.30% in the past 1 month)

Past 1M, 24H, 7D, 1M, 3M, 6M, YTD, 1Y, 3Y, 5Y, ALL
Market Cap: $3.65B
Volume: $3.30M
PE Ratio: 13.41
All-Time High: $14.86

7. Pinterest – A unique social media platform

PINS Stock Price (1-Year Change): $35.82 (-3.53%)
CoinCodex 1-Year Prediction: $126 (+219.09%)
Technical Analysis Rating: Strong Buy

Why we picked it?

Pinterest, Inc., founded in 2010, is a unique social media platform known for its visual discovery and collection tools. Users can create and manage theme-based image collections, making it popular for finding inspiration in various categories. Pinterest aims to grow its user base beyond 500 million monthly active users (MAUs) and is well-poised for consistent user growth. Additionally, any increase in Average Revenue Per User (ARPU) could drive strong sales growth.

Noteworthy is Pinterest’s high investment in research and development, standing at 36% in the past year. This indicates a forward-looking approach, with the company investing in strategies for long-term business expansion.

Pinterest, Inc. (PINS)
$35.82 (-3.53% in the past 1 month)

Past 1M, 24H, 7D, 1M, 3M, 6M, YTD, 1Y, 3Y, 5Y, ALL
Market Cap: $24.10B
Volume: $8.57M
PE Ratio: -716.4
All-Time High: $89.43

8. ImmunoGen – A biotech company specializing in cancer treatment

IMGN Stock Price (1-Year Change): $31.23 (+4.94%)
CoinCodex 1-Year Prediction: n/a
Technical Analysis Rating: Buy

Why we picked it?

Immunogen, Inc., a biotechnology company founded in 1981, specializes in the development of anticancer therapeutics, focusing on antibody-drug conjugates (ADCs). Immunogen’s drug Elahere is expected to transition from Accelerated Approval to Full Approval in the first half of 2024, potentially serving as a significant catalyst for the company.

The outcome of the ongoing Phase 2 PICCOLO study, evaluating Elahere in patients with FRa-high platinum-sensitive ovarian cancer, expected in mid-2024, could open up new patient populations for Immunogen to target. While developments may face delays and challenges, Immunogen presents a strategic investment in potential advancements in cancer treatment.

Immunogen, Inc. (IMGN)
$31.23 (+4.94% in the past 1 month)

Past 1M, 24H, 7D, 1M, 3M, 6M, YTD, 1Y, 3Y, 5Y, ALL
Market Cap: $8.72B
Volume: $48.61M
PE Ratio: -111.54
All-Time High: $31.25

The bottom line: Diverse opportunities in the sub-$50 range

While a stock’s price doesn’t necessarily reflect its underlying performance, the sub-$50 range offers a variety of investment options. Investors can explore these opportunities, considering factors like industry trends, company growth strategies, and potential catalysts. As always, thorough research, understanding risk factors, and staying informed about market dynamics are essential for making informed investment decisions. If you’re interested in more budget-friendly options, articles on stocks under $5 or AI penny stocks under $10 may provide additional insights. For a broader overview, regularly updated lists of the best stocks to buy can guide your investment journey.