10 Cheap Stocks That Are About to Explode

7. Sony Group Corporation (NYSE:SONY)

Average Upside Potential: 49.04%

Sony Group Corporation (NYSE:SONY) is one of the cheap stocks that are about to explode. On June 23, Sony announced plans to return to the US investment-grade bond market for the first time since 1998. The company mandated Bank of America and Morgan Stanley to initiate investor calls for a two-tranche offering featuring 5-year and 10-year maturities. The proceeds from this sale are intended for general corporate purposes.

This move comes as Japanese firms increasingly tap dollar-denominated debt to diversify funding and capitalize on tight credit spreads. With policy tightening by the Bank of Japan, issuing dollar-denominated notes has become a more attractive option for Japanese corporations, following similar recent offerings from companies like Mitsubishi Corp. and Denso Corp.

Sony Group Corporation (NYSE:SONY), which recently pivoted its focus toward its entertainment business after spinning off its financial units, expects the new bonds to receive A2 and A+ ratings from Moody’s and S&P, respectively. The company’s decision reflects its strong earnings outlook and follows a recent credit upgrade, further positioning it to lock in financing amid a broader rush of high-grade bond sales in the US market.

Sony Group Corporation (NYSE:SONY) is a Japanese multinational conglomerate and a diversified entertainment and technology group with major businesses in Game & Network Services, Music, Pictures, Entertainment Technology & Services, Imaging & Sensing Solutions, and Financial Services.

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