Considering the dramatic recovery of numerous stocks during 2020, investors might not expect to find many options sitting in the bargain bin. But there are several companies that have taken a real hit this year, and their stocks are trading at a significant discount to their pre-pandemic highs.
With the recent approval and administration of COVID-19 vaccines, there is a real opportunity for some of these suffering S&P 500 stocks to take advantage and stage a comeback. If you want to increase your chances of benefitting from such recoveries, you should take a closer look at Boeing (NYSE: BA), Chevron (NYSE: CVX), and Lumen Technologies (NYSE: LUMN) stocks. Here’s why these three top stocks are currently on sale.
Airframe manufacturer Boeing has had a rough couple of years. For much of 2019, it faced significant damage to its reputation following two deadly plane crashes involving its 737 MAX jetliner and some faulty flight software. In 2020, it took an even bigger hit as COVID-19 walloped the airline industry and evaporated demand for new Boeing aircraft of any kind, not just the 737 MAX.