Want to Retire a Millionaire? This Under-$20 Stock Deserves a Look.

If you're seeking stocks that seem like bargains because they have seemingly low prices, such as shares trading for less than $20 apiece, understand that a $20-per-share stock can be wildly overvalued and likely to fall, while a $215-per-share stock -- such as Nvidia, as of June 3 -- can be undervalued and likely to rise.

Consider SoFi Technologies (NASDAQ: SOFI) for your portfolio. It was trading for $16.68 per share as of June 3, and it also seems attractively valued.

Image source: The Motley Fool.

SoFi Technologies is a financial services company, and one that aims to be a one-stop digital shop for all things financial for its customers. The company brags: "13.7 million members trust SoFi to borrow, save, spend, invest, and protect their money and buy, sell, and hold their crypto -- all in one app -- and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi's technology platform Galileo to build and manage innovative financial solutions across 128 million global accounts."

In its first quarter, SoFi Technologies posted net revenue up 41% year over year and 1.1 million new members. It relaunched its SoFi Plus suite of offerings with a $10-a-month subscription model, which should drive valuable recurring revenue.

SoFi Technologies' shares have averaged annual gains of 36% over the past three years and have gained nearly 30% over the past year. They're down 32% year to date, partly because of a short-seller report), putting them back in attractive territory, with a recent forward-looking price-to-earnings (P/E) ratio of 27.

SoFi Technologies, like lots of great stocks, can make you a millionaire if you have enough time and invest meaningful sums in it. Imagine, for example, that you invest $1,000 per month in it and it averages 12% annual returns over 20 years. That would get you to just about $1 million. (Of course, for best results, you should spread your money across lots of promising stocks, so as not to have too many eggs in one basket.)

Selena Maranjian has positions in Nvidia and SoFi Technologies. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.