A number of ASX shares have been hammered in the current bear market. Coronavirus concerns have shutdown the global economy and spooked investors worldwide. However, a falling market creates buying opportunities for bold investors.
If you're looking to invest some extra cash right now, here are 3 ASX shares you won't regret buying $500 more of today.
3 ASX shares you won't regret spending $500 on
1. CSL Limited (ASX: CSL)
The CSL share price could be a good buy at the moment. While the S&P/ASX 200 Index (ASX: XJO) has slumped 24.13% lower in 2020, CSL shares are up 10.28% in 2020. It seems like CSL is the magic combination of an ASX growth share with defensive qualities in the bear market.
With a strong R&D pipeline and a strong balance sheet, I think CSL could be worth adding a little extra to today.
2. A2 Milk Company Ltd (ASX: A2M)
A2 Milk shares are up nearly 3,000% in the last 5 years. The group's shares have climbed 16.22% in 2020 to outperform the ASX 200 benchmark index. With Aussies lining up for more supplies in the coronavirus shut down, I think A2 Milk could see an earnings increase in 2020.
That's good news for shareholders in the Kiwi dairy group. If you had bought $500 worth of A2 Milk shares 5 years ago, that would be worth nearly $15,000 today. I think it could be worth a roll of the dice on this ASX share, given its strong history and short-term outlook.
3. Coles Group Ltd (ASX: COL)
Some investors were a little skeptical of Coles when it spun-off from Wesfarmers Ltd (ASX: WES) in November 2018. Wesfarmers has now agreed to sell its remaining stake in the business for $1.06 billion. I think Coles shares could be worth adding to your portfolio or giving a boost today.
The retailer's share price is up 7.01% in 2020 as sales have rocketed. If the shutdown continues for longer than expected, I think its share price could go even higher. If you have a spare $500 to invest, I think Coles looks to be a safer buy than many other ASX 200 shares on the market.
