As the financial markets wade through a quagmire of uncertainty, investors are searching for safe harbors amidst the storm. In this tempestuous sea, under $20 stocks shine like a beacon of hope, promising riches that could materialize with the speed of a lightning strike. J.P. Morgan’s optimism about a “soft landing” for the U.S. economy this year fuels this hope, amid concerns of persistent inflation, geopolitical tensions in the Middle East, and the upcoming U.S. election. In such turbulent times, caution is not only advisable but essential.
J.P. Morgan’s projections of modest earnings growth and its cautious approach to risky assets reflect the prevailing economic pressures. Echoing this sentiment, Morningstar advocates a shift towards value stocks and small to mid-cap equities. Against this backdrop, investing in under $20 stocks presents an attractive opportunity, especially with J.P. Morgan forecasting the Federal Reserve’s initiation of rate cuts mid-year, with a target range of 4.00% to 4.25% by the end of 2024.
Driving Towards the Future: Ford Motor (F)
Riding the wave of electric vehicle (EV) revolution, Ford Motor‘s (NYSE:F) recent performance has been nothing short of electrifying. The company achieved record-breaking sales in April, marking a 60% surge in hybrid car sales from the previous year, complementing an 86% growth in first-quarter sales. Ford’s ambitious target of producing 2 million units by 2026 signals a firm commitment to its EV initiatives under the Ford+ strategy, emphasizing EVs.
Ford’s strategic move to transform its Ontario Oakville Assembly Plant into a hub for electric vehicle production underscores its dedication to innovation. The unveiling of new three-row electric vehicles slated for 2027 enhances Ford’s foothold in the EV market. Collaborating with the City of Dallas to enhance EV charging infrastructure further cements Ford’s position in the sustainability-driven automotive industry.
Embracing Innovation: Riot Platforms (RIOT)
Riot Platforms (NASDAQ:RIOT) is navigating the choppy waters of the cryptocurrency market with finesse. The company reported a staggering $211.8 million in net income for the first quarter, a remarkable 1,000% increase from the year-ago period. A substantial rise in the value of Bitcoin catalyzed a 55.4% year-over-year increase in mining earnings, reaching $74.6 million.
Despite these stellar results, Riot Platforms faces challenges ahead, especially in light of the recent Bitcoin halving event which halved mining rewards. Focused on fortifying its infrastructure, Riot Platforms is poised to achieve a self-mining hash rate capacity of 31 EH/s by the close of 2024.
Pioneering Sustainable Solutions: Lithium Americas (LAC, LAAC)
Lithium Americas (NYSE:LAC) is forging a new path towards sustainability through groundbreaking initiatives. By splitting into two entities, Lithium Americas (Argentina) Corp (NYSE: LAAC) and LAC, the company is advancing the Thacker Pass project, aiming to produce 80,000 tonnes of battery-grade lithium carbonate annually in Nevada’s Humboldt County.
The Thacker Pass project, supported by key stakeholders such as General Motors and funded by strategic partnerships, promises to revolutionize the American lithium supply chain, reducing reliance on foreign sources. With construction underway and production slated to commence in 2026, now is the opportune moment to engage with this hidden gem among under $20 stocks.
On the date of publication, the writer did not hold any positions in the securities mentioned.
Information in this article reflects the writer’s personal opinions and not necessarily those of the publication. For publishing guidelines, refer to the InvestorPlace website.
