11 Stocks Under $50 To Buy Now

Published November 26, 2023 at 8:20 am EST Updated August 31, 2026 at 8:47 pm EDT

In this article, we will take a look at 11 stocks under $50 to buy now.

The equity markets in United States posted another week of positive performance which marks the fourth consecutive week of positive performance after months of tumultuous returns. The continual resurgence of the markets stems from several factors including a hiatus in interest rate hikes since July, better than expected inflation, jobs, and other figures.

S&P 500 Index has gained 10.73% during the last four weeks, while NASDAQ-100 Index has gone up 12.7% during the same period. A significant portion of the gains in 2023 can be attributed to the rise of the “Magnificent Seven”, i.e., Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), Meta Platforms, Inc. (NASDAQ:META), Microsoft Corporation (NASDAQ:MSFT), NVIDIA Corporation (NASDAQ:NVDA), and Tesla, Inc. (NASDAQ:TSLA). These stocks, combined, have soared an average of 70% year-to-date, compared to a measly average 6% for the rest of the S&P 500 constituents.

Individual stocks, based on their respective catalysts, have shown outstanding performance this year. A prime example is the meteoric rise of NVIDIA Corporation. The stock has gone up nearly 234% year to date riding on the artificial intelligence wave. The company posted another record quarterly revenue, which was more than triple from a year ago, surpassed estimates, and reached a whopping $18 billion. This supports the belief that investment in quality companies with quality products and market advantage can garner positive results even in the worst of times.

An important factor to look up to this week is the consumer spending trend during Black Friday and Cyber Monday events. According to the National Retail Federation, nearly 182 million people are forecasted to shop across the United States, both in-store and online, during this period. Positive turnout could lead to better than expected results for consumer spending stocks which have had a resilient year so far. S&P 500 Consumer Discretionary Index is up 33% year to date and looks ready for further growth.

Stocks trading at prices below $50 can be a good addition to an investor’s portfolio based on their affordability. Despite being affordable, some of these low priced stocks offer significant upside potential. Our list of 11 stocks under $50 to buy now includes leading companies across multiple sectors, including Chinese ecommerce giant JD.Com, Inc. (NASDAQ:JD), South Korean ecommerce company Coupang, Inc. (NYSE:CPNG), global ride hailing leader Teck Resources Ltd (NYSE:TECK), and General Motors Company (NYSE:GM), among others.

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Methodology

We used stock screeners to shortlist stocks that were trading at a share price of less than $50. To find quality stocks among the shortlisted stocks, we first narrowed down our selection by retaining only stocks that were not overbought, had buy or better recommendations, positive sales growth, and upside potential based on average price targets. We then corroborated the list with our database of stock ownership by leading hedge funds. The final step involved the ranking of the identified list of stocks based on their popularity among the 910 hedge funds tracked by Insider Monkey. The list of 11 stocks under $50 to buy now is ranked in the ascending order of the number of hedge funds that owned a stock.

Stocks Under $50 to Buy Now

11. Toast, Inc. (NYSE:TOST)

Share Price as of November 23: $14.11

Number of Hedge Fund Holders: 46

Toast, Inc. (NYSE:TOST), based in Boston, Massachusetts, is a software company that provides a cloud based restaurant point of sale and management software system to run their business across point of sale, operations, digital ordering and delivery, marketing and loyalty, and team management.

On November 7, Toast, Inc. released its financial results for Q3 2023. Its revenues increased by 37% y-o-y to $1.0 billion, while net loss declined by 68% y-o-y to $31 million. The company also upgraded its full year outlook for revenue to $3.83 billion to $3.86 billion and adjusted EBITDA to $38 million to $48 million.

As of Q3 2023, Toast, Inc. shares were held by 46 hedge funds with the total shares held by them valued at $1.6 billion. Mick Hellman’s HMI Capital was its largest hedge fund shareholder with ownership of 14.4 million shares valued at $269 million.

10. Match Group, Inc. (NASDAQ:MTCH)

Share Price as of November 23: $32.03

Number of Hedge Fund Holders: 48

Dallas, Texas-based Match Group, Inc. (NASDAQ:MTCH) is an internet and technology company operating a portfolio of more than 40 leading dating services apps including Match, OkCupid, Tinder, and Hinge, among others.

On October 31, Match Group, Inc. reported the financial results for Q3 2023. It generated total revenues of $882 million and a net income of $164 million.

Following the earnings release, KeyBanc analyst Justin Patterson lowered the price target on Match Group, Inc. shares to $56 from $60 but maintained an ‘Overweight’ rating for the shares.

On April 28, the board of directors of Match Group, Inc. approved a new share repurchase program for repurchase of up to $1.0 billion in its common stock. The company repurchased $445 million worth of its shares during the first three quarters of 2023 and currently has $667 million remaining under its $1 billion repurchase program.

9. Noble Corporation (NYSE:NE)

Share Price as of November 23: $45.10

Number of Hedge Fund Holders: 48

Sugar Land, Texas-based Noble Corporation (NYSE:NE) is one of the largest offshore drilling contractors in the world. It performs contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities worldwide.

On October 31, Noble Corporation released its financial results for Q3 2023 which surpassed consensus estimates by a significant margin with a revenue of $697 million and an EPS of $1.09. The top and bottom line figures exceeded estimates by $60 million and $0.25, respectively.

Noble Corporation initiated quarterly dividends in July this year at an annualized rate of $1.20 per share. The Board of Directors of the company raised the dividend amount to $0.40 per share for Q4 2023.

Like other stocks such as Pfizer Inc. (NYSE:PFE), General Motors Company, and Bristol-Myers Squibb Company (NYSE:BMY), the shares of Noble Corporation are among the stocks under $50 to buy now.

8. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)

Share Price as of November 23: $38.05

Number of Hedge Fund Holders: 50

Based in Phoenix, Arizona, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) is a leading business services provider specializing in temporary space solutions. Its product offerings include modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, and climate-controlled storage units, among others.

WillScot Mobile Mini Holdings Corp. mostly in-line results in Q3 2023. Following the earnings release, Deutsche Bank lowered the price target on WillScot Mobile Mini Holdings Corp. shares to $51 from $53 and maintained a ‘Buy’ rating.

During the last twelve months, WillScot Mobile Mini Holdings Corp. has invested $494 million for tuck-in acquisitions. Notable acquisitions include 616 Global Clearspans, a clearspan structure company based in Tucson, Arizona, and temporary cold storage solutions providers Cold Box based in California and A&M Cold Storage based in Ohio, among others.

7. Devon Energy Corporation (NYSE:DVN)

Share Price as of November 23: $45.51

Number of Hedge Fund Holders: 52

Devon Energy Corporation (NYSE:DVN) is a leading oil and gas producer based in Oklahoma with a multi-basin portfolio underpinned by world-class Delaware Basin position.

On November 7, the board of directors of Devon Energy Corporation declared a quarterly dividend of $0.77 per share which includes fixed as well as a variable component. This represents a dividend yield of 6.56%, the highest on our list of 11 stocks under $50 to buy now. The company has repurchased 40 million of its shares since late 2021 at a total cost of $2.1 billion.

As of Q3 2023, Devon Energy Corporation shares were held by 52 hedge funds with the total shares held by them valued at $864 million.

Like other stocks such as Pfizer Inc., General Motors Company, and Bristol-Myers Squibb Company, the shares of Devon Energy Corporation are among the stocks under $50 to buy now.

6. Sea Limited (NYSE:SE)

Share Price as of November 23: $36.66

Number of Hedge Fund Holders: 55

Singapore-based Sea Limited (NYSE:SE) is a leading consumer internet company in Southeast Asia and Taiwan. It operates three core businesses: Shopee – an ecommerce platform, Garena – a global games developer and publisher, and SeaMoney – a digital payments and financial services provider.

On November 14, Sea Limited released its quarterly results for Q3 2023. Its total revenues increased by 5% y-o-y to $3.3 billion, while net loss declined by 75% y-o-y to $144 million. It reported a normalized EPS of $0.04 for the quarter, which missed the consensus estimates by $0.05.

As of Q3 2023, 55 hedge funds out of the 910 hedge funds tracked by Insider Monkey were bullish on Sea Limited and held shares valued at $2.2 billion. Tiger Global Management LLC held the highest number of shares among hedge funds with ownership of 11.7 million shares, valued at $514 million.

5. Coupang, Inc. (NYSE:CPNG)

Share Price as of November 23: $16.31

Number of Hedge Fund Holders: 55

Coupang, Inc. is a leading ecommerce company based in Seoul, South Korea. It offers a variety of ecommerce related services including same-day and next-morning delivery of groceries and general merchandise, delivery of prepared foods through Coupang Eats, and video streaming through Coupang Play.

According to Insider Monkey data on 910 hedge funds, 55 hedge funds held shares of Coupang, Inc., valued at $3.6 billion, as of Q3 2023. The largest shareholder was Lee Ainslie’s Maverick Capital holding 77 million shares valued at $1.3 billion.

Like other stocks under $50 such as, WillScot Mobile Mini Holdings Corp., and Teck Resources Ltd, hedge funds are also loading up on Coupang, Inc. shares.

In its Q3 2023 investor letter, Baron Funds, an investment management firm, made the following comments about Coupang, Inc.:

“When we originally invested in Coupang, our thesis was constructed around the company’s wide product selection, low prices, and unrivaled convenience thanks to its investments in an end-to-end infrastructure that covers over 70% of Korea’s population, enabling over 99% of orders to be delivered within one day or less, rather than the industry norm of two to three days, driving customer satisfaction, which translates to higher customer retention rates and lifetime value. We thought that Coupang would continue to gain market share in the U.S. $500 billion-plus Korean retail market, while expanding its offerings into additional categories, expanding its ecosystem via a third-party marketplace, and continuing to invest in infrastructure density to further capture inefficiencies, enhancing the customer experience, and improving profit margins. The company has since outperformed our expectations, growing its market share to 25% (#1 in the industry), despite not being a first mover, while building an unrivaled user experience with 99.8% of products delivered the next day (with the majority of them by dawn) and becoming profitable significantly faster than we expected. Our biggest takeaway from the visit was that despite all of Coupang’s success, there is still a long runway of growth ahead.”

4. Bristol-Myers Squibb Company (NYSE:BMY)

Share Price as of November 23: $49.69

Number of Hedge Fund Holders: 65

Based in New Jersey, Bristol-Myers Squibb Company is a biotechnology company focused on the discovery, development, and delivery of innovative medicines for serious diseases across oncology, hematology, immunology, cardiovascular disease, and fibrosis.

On October 8, Bristol-Myers Squibb Company announced that it had entered into a definitive merger agreement to acquire Mirati Therapeutics, Inc. (NASDAQ:MRTX), in an all-cash transaction which values the target company at $4.8 billion. The acquisition is expected to strengthen and diversify the oncology portfolio of the company.

After a quarterly performance report released on October 26 which showed an in-line topline and an adjusted EPS of $2.00 which beat consensus by $0.23, Goldman Sachs analyst Chris Shibutani lowered the price target on Bristol-Myers Squibb Company shares to $69 from $81, while maintaining a ‘Buy’ rating for the shares.

3. General Motors Company (NYSE:GM)

Share Price as of November 23: $28.27

Number of Hedge Fund Holders: 66

General Motors Company is a leading multinational automotive company focused on manufacturing and sale of trucks, crossovers, cars and automobile parts and accessories across the globe. Major brands such as Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, and Wuling fall under its wings.

General Motors Company posted a strong quarterly performance in Q3 2023. Its revenue increased by 5% y-o-y to $44.1 billion while net income decreased by 7% y-o-y to $3.1 billion. It managed to beat consensus estimates for EPS by $0.37 with quarterly figures of $2.20.

Following the earnings release, RBC Capital analyst Tom Narayan raised the price target for General Motors Company shares to $48 from $47 and maintained an ‘Outperform’ rating. The target price represents a potential upside of 69.79%, based on the share price on November 23.

General Motors Company ranks 3^rd on our list of stocks under $50 to buy now. The shares of the company were owned by 66 hedge funds with a total value of $2.0 billion according to the Insider Monkey database. Harris Associates was the largest hedge fund shareholder with ownership of 35.5 million shares valued at $1.2 billion.

2. Pfizer Inc. (NYSE:PFE)

Share Price as of November 23: $30.6

Number of Hedge Fund Holders: 73

Founded in 1849, New York-based, Pfizer Inc. is a leading research-based biopharmaceutical company. Its product portfolio and pipeline includes several pharmaceutical therapies for primary care, specialty care, and oncology, including mRNA-based COVID-19 vaccine – COMIRNATY, and covid-19 treatment – PAXLOVID.

On October 31, Pfizer Inc. released its financial results for the third quarter of 2023. Its revenues declined by 42% y-o-y to $13.2 billion, while it reported a net loss of $2.4 billion. The drastic drop resulted from a decline in the company’s revenue from Comirnaty and Paxlovid. On the other hand, the revenues for non-Covid products of the company increased 10% operationally.

As of Q3 2023, 73 of the 910 hedge funds tracked by Insider Monkey were long Pfizer Inc., holding shares worth $2.4 billion. Prominent hedge funds such as Citadel Investment Group, D E Shaw, and Two Sigma Advisors, among others, held the most shares of the company.

1. Teck Resources Ltd (NYSE:TECK)

Share Price as of November 23: $36.57

Number of Hedge Fund Holders: 75

Vancouver, Canada-based, Teck Resources Ltd is a leading mining company with major business units focused on copper, zinc, and steelmaking coal. It ranks among the top 10 copper producers in the Americas and is the largest net Zinc miner globally.

On November 13, Teck Resources Ltd announced agreements to sell its entire stake in its steelmaking coal business at an implied value of $9.0 billion. The transaction comprises the sale of 77% stake to Glencore plc for $6.9 billion in cash, and a minority stake to Nippon Steel Corporation. The company intends to use the proceeds to strengthen its balance sheet, return cash to shareholders and to realize value from its copper growth portfolio.

As of Q3 2023, Teck Resources Ltd was ranked highest on our list of stocks under $50 to buy now. The stock was held by 75 hedge funds with the total shares held by hedge funds valued at $2.7 billion. Eric Mandelblatt’s Soroban Capital Partners held the most shares with ownership of 10.1 million shares valued at $434 million.