3 Buy-The-Dip Stocks To Snap Up Now

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The market has witnessed a relief rally as major stocks market indexes moved into positive territory, driven by the Federal Reserve’s signal that it will maintain its ultra-easy monetary policy. But the indexes have recently been in the red because investors fear that the Chinese real-estate developer Evergrande’s debt crisis could lead to global financial contagion.

Furthermore, a decline in consumer confidence and an uptick in jobless claims have compounded the concerns. But, ironically, the stock market’s volatility has created an ideal situation for long-term investors to buy quality stocks at low prices.

Financial planner Philip Chao, principal and chief investment officer at Experiential Wealth in Cabin John, Md., believes that “buying the dip” has been a successful strategy for a long time because stocks bought during their downturns enable investors to reap rewards when there is a rebound.

Corcept Therapeutics Incorporated (CORT), NextGen Healthcare, Inc. (NXGN), and Core Molding Technologies, Inc. (CMT) have suffered price declines recently, but we think they possess solid rebound prospects. So, it could be wise to scoop up their shares now.

Corcept Therapeutics Incorporated (CORT)

CORT is a pharmaceutical company that provides solutions to various endocrine, metabolic, oncologic, psychiatric, and ophthalmologic diseases. The company also researches and develops selective glucocorticoid receptor (GR) antagonists. Also, Korlym (mifepristone) tablets, the company’s key product, are used to treat hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome.

This month, CORT announced positive results for the Phase 2 trial of its relacorilant plus nab-paclitaxel, which was featured at the European Society of Medical Oncology (ESMO). This trial illustrated that women with recurrent platinum-resistant ovarian cancer should benefit from receiving relacorilant without any side effects. Also, CORT plans to begin its Phase 3 trial in the first quarter of next year.

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TM Editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

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No Scrubs 2 months ago Member's comment

When someone says Snap, I run!