For all the talk of a possible correction being underway, there isn't really much to show for it with the S&P/ASX 200 (INDEXASX: XJO) down only 2.7% in the last month.
In fact in the last five trading days the index has actually gained 1.6%. Some correction!
Perhaps a relief rally is underway already, perhaps it's the calm before the storm, or perhaps it's onwards and upwards to 6,000 points!
Whatever the situation, the increased volatility has seen a swath of companies sold down with their share prices now at 52-week lows.
Happy Hunting
A list of stocks that are trading at their cheapest level in a year sounds to me like a happy hunting ground for prospective investment opportunities.
Here are three stocks which I plan to investigate further.
UK-based fund manager Henderson Group plc's (ASX: HGG) share price has fallen from a high of $4.87 earlier in the year to $3.41 last week. The group recently completed a major acquisition which added $5.4 billion in assets under management to the group.
Shareholders in online lotteries provider Jumbo Interactive Ltd (ASX: JIN) have watched as the stock has fallen 53% in the past 12 months. In fact, the shares are now trading at levels last seen in mid-2012, a point which could make for a reasonable entry level if you believe there is growth ahead for the firm and considering Jumbo reported roughly flat year-on-year profits.
The wild ride for XERO FPO NZ (ASX: XRO) shareholders continues! Having soared from less than $5 to nearly $43 in the space of a year-and-a-half the stock price has since plummeted over 60% since March. XERO continues to grow its customer base and its cloud-based accounting software product and market position remains appealing.
