5 Cheap Stocks to Buy That Outperformed in 2022

In this article, we discuss 5 cheap stocks to buy that outperformed in 2022. If you want to see more cheap stocks to buy that outperformed in 2022, the risk/reward, and methodology of this list, go directly to 12 Cheap Stocks to Buy That Outperformed in 2022.

5. American Express Company (NYSE:AXP)

Year to Date Return as of December 14: -8.38%

Number of Hedge Fund Holders: 68

Although its shares are down 8.38% year to date, American Express Company (NYSE:AXP) has nevertheless been one of the better performing financial stocks this year as its business has not been affected that much by the macroeconomic headwinds so far.

Following the company’s third quarter earnings release in October, American Express Company (NYSE:AXP) CEO Stephen Squeri said to Yahoo Finance, “We’re not seeing any changes in consumer spending. We have strong credit quality.”

Whether that will change depends on how the economy does but analysts are bullish on American Express Company (NYSE:AXP) with an average price target of $168.17 per share.