Although last week was a bit of a non-starter on the ASX, you can consider this a good thing if you love picking up shares for a bargain price in true value investing style. Rising share markets and stock prices are fantastic if you already own shares, but not so good if you're looking to aggressively grow your portfolio.
So with that in mind, here are 2 ASX shares that I think are looking cheap this week.
Bingo Industries Ltd (ASX: BIN)
Bingo has had a rough few months, with the waste service provider's shares going from $2.71 in July to last week's finishing price of $2.20 (down nearly 19% in two months). Just this month, Bingo confirmed that its acquisition of Dial A Dump Industries has been completed, which the company hopes will be a significant long-term driver of growth.
The waste management sector is in a considerable tailwind in my opinion, especially since China's 'National Sword' policy of not accepting foreign counties' waste (including Australia) is now in full operation. Our recyclables will have to be processed in-house from now on, and I think Bingo, together with Cleanaway Waste Management Ltd (ASX: CWY), is going to benefit from this change immensely. Waste isn't going away anytime soon, so some Bingo shares might just be a great bargain to pick up this week.
Vitalharvest Freehold Trust (ASX: VTH)
Vitalharvest is an agricultural real estate investment trust (REIT) that owns properties producing berries, citrus fruits and avocados, among other foods. The company has suffered collateral damage due to the woes of tenant Costa Group Holdings Ltd (ASX: CGC), but I think its fundamentals are strong, making Vitalharvest's current yield of 6.42% very enticing. Most of Vitalharvest's farms are leased until 2026, giving investors a lot of income certainty as well. Therefore, at last week's closing price of $0.88 a share, I think Vitalharvest shares could also be a bargain buy right now.
Foolish takeaway
Many a time, picking up a real bargain involves going against a lot of other investors who might think you're crazy. But following the crowd rarely makes you money in the long run, so be brave when others are fearful, and you might just be rewarded!
