Buyer’s Market: 1 of the Best Canadian Stocks to Buy Now!

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In general, the term buyer’s market is used colloquially when referring to the real estate market. However, any industry or sector can go through periods referred to as buyer’s market. Currently, with so many Canadian stocks trading cheap and worth buying, there is no doubt that TSX in the buyer’s market.

A buyer’s market occurs when market fundamentals cause prices to drop dramatically, which puts buyers in a more advantageous position than sellers. This is usually due to a shift in supply and demand.

With the economy facing significant tailwinds and many investors concerned about how it will perform in the short term, that’s exactly what we’re seeing.

So as more investors are looking to sell shares and less capital in the markets now with interest rates rising, it is only natural that stock prices will drop dramatically.

So, if you have cash to invest, you are in an advantageous position and can take the opportunity to purchase some of the best Canadian stocks while trading them at great discounts.

One of, if not the most famous Warren Buffett quote ever said, “Be afraid when others are greedy and greedy when others are afraid.”

So, as long as you are willing to take a long-term position and find stocks that you know have years and even decades of potential growth, buying now and throughout this correction is one of the best times to do so.

So if you are looking for Canadian stocks to buy today that offer investors the best value, here is one of the best companies to consider.

One of the best Canadian growth stocks to buy while being undervalued

If you are looking to take advantage of the current market environment and the fact that many Canadian stocks are traded cheaply, one of the best stocks to buy right now is exhausted (TSX: GSY), the specialist finance firm.

During 2022, goeasy stock has lost more than 44% of its value, and in total, since it peaked, the stock has lost nearly 55% of its value. It is also worth noting that most of the sell-off in goeasy stock came as a result of the market environment. If anything, the company has continued to perform exceptionally well, even as its share price has fallen dramatically.

With soft loans mostly for second-tier borrowers, and the economic environment becoming more risky, investors are concerned that goeasy may see an increase in defaults on its loans.

However, it has built an incredibly stable business for years. Moreover, in order for the company to stop losing money and break even, its charging must jump by about 2.5 times – a huge amount.

So, after the big sell-off so far this year, there’s a good chance that goeasy is undoubtedly one of the best Canadian stocks to buy right now.

With the shares trading at less than $100 per share, the dividend not only offers an attractive 3.75% return, but the stock is also trading at just 7.8 times its forward earnings.

So, if you are looking for the best Canadian stocks to buy right now, goeasy is one of my top recommendations.

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