Some Free Press 50 stocks look as cheap as CDs. No, we're not talking about certificates of deposit. Price alone doesn't tell all. But it is startling to see some solid stocks trading in the teens.
Low prices are a glaring sign of how beaten down stocks have gotten.
And, perhaps, the signal of a turning point. And they looked like even better buys as dot-com dreams of big payoffs turned into nightmares. As earnings disappointments cut into forecasts for more established technology companies as well as the dot-coms, investors sought shelter in traditional stocks. To be sure, seeing prices tumble well below 52-week highs isn't an automatic signal to buy for investors. Real deals are found by looking at a stock's price in relation to its potential earnings.