Why Progressive Stock Is an Incredible Bargain Right Now

Investors are buzzing with excitement around artificial intelligence (AI) and the development of its surrounding infrastructure. Markets are surging as a result. The S&P 500 (SNPINDEX: ^GSPC) is up 15% year to date, while the tech-heavy Nasdaq Composite (NASDAQINDEX: ^IXIC) is up 20% since the start of the year.The bull market in stocks has been strong, and concerns have emerged about the lofty valuations today. Against this backdrop, it can be hard to find quality companies trading at a discount. However, one stock that is a screaming bargain right now is auto insurer Progressive (NYSE: PGR).The company holds a strong market position in the insurance industry and has a proven track record of outperforming its peers. More recently, Progressive stock is in a downturn, having dropped 30% from its all-time high.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool