7 Budget-Friendly Stocks Getting Ready to Rocket in 2024

Group 1: Budget-Friendly Stocks Overview - Budget-friendly stocks are becoming scarce as top-performing mega-cap stocks approach overvaluation, with moderate underperformance having significant market implications [1] - A few budget-friendly stocks remain, defined as either undervalued or priced low enough to be considered penny stocks without the associated risks [2] Group 2: Nintendo (NTDOY) - Nintendo is highlighted as a budget-friendly stock due to its long-term business strategy, maintaining a strong balance sheet with significant cash reserves and zero debt [4] - The company's focus on long-term growth rather than short-term profit maximization has contributed to its enduring success since 1889 [4] Group 3: PSQ Holdings (PSQH) - PSQ Holdings operates a digital marketplace aimed at aligning consumer purchases with their values, representing a shift in eCommerce trends [6][7] - The company trades around $3.75 per share with a market cap of $110 million, indicating potential for growth as a newcomer in the stock market [11] Group 4: Rumble (RUM) - Rumble has seen increased viewership, particularly during significant events like the Presidential Debate, distinguishing itself from competitors like YouTube [9] - The platform reported a loss of $0.14 per share, outperforming analyst expectations, and has filed an antitrust lawsuit against Google, positioning itself as a notable underdog in the market [18] Group 5: Stem (STEM) - Stem trades at approximately $1.10 per share with a market cap of $171 million, focusing on AI and sustainable energy, which supports its long-term growth potential [20] - The company's Athena software optimizes energy distribution, making it valuable for large-scale clients managing renewable energy resources [21] Group 6: Fresh Del Monte Produce (FDP) - Fresh Del Monte Produce is characterized as a defensive budget-friendly stock, with a recent 15% reduction in total debt and a 5% revenue increase in its fresh and value-added sales segment [25][26] - The company offers a 5.25% dividend yield, making it an attractive option for investors looking to build a budget-friendly portfolio [26] Group 7: Great Lakes Dredge & Dock (GLDD) - Great Lakes Dredge & Dock operates in the niche sector of waterway management, which is essential for the global supply chain and is relatively recession-proof [28] - The company reported an EBITDA of $43 million, the highest since late 2021, and is positioned to benefit from a record $8.7 billion budget from the U.S. Army Corps of Engineers [29][30]