When it comes to low-priced stocks, it's typically fair to say that you get what you pay for. Companies trading for pocket change per share are there for a reason, but sometimes you can find some gems in the equities that the market discarded. 

Vacasa (VCSA 3.36%) and fuboTV (FUBO -0.75%) are two stocks that have fallen off the Wall Street radar. They are trading below $3 a share. They have both fallen sharply this year, but there are catalysts that could send the shares higher in 2023.

Two people pushing a huge piggy bank up an incline.

Image source: Getty Images.

1. Vacasa

Vacasa began trading publicly exactly one year ago today, but don't expect a birthday party or smash cake photos. The vacation rental management specialist has been a dud, down nearly 90% in its first year on the market. Vacasa gives homeowners a way to optimize the moneymaking power of their rental properties with software tools to simplify the property management process. From cleaning services to handling repairs -- and navigating listings across various booking portals -- making sure a rental gets noticed and managed well is Vacasa's sales pitch. 

The business doesn't end there. Properties on its platform -- more than 35,000 across 400 different destinations -- can also be booked by potential guests on the platform itself. Vacasa also serves a third market, helping out people looking to sell or unload their vacation properties. 

Business took off during the pandemic. Revenue soared 64% in 2020 and another 81% last year. Top-line growth has slowed, slipping to 31% and 25% year-over-year gains in the last two quarters. However, it did post a profit in those two reports. Red ink is coming in the current quarter, but Vacasa feels it's on track to generate positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2023. 

Things aren't perfect. Vacasa stock took a big hit when the company posted third-quarter results last month. Vacasa lowered the implied guidance for the current quarter. It was initially looking to grow its property base by 30% in 2022, but now it's settling for a 20% uptick. It's on its third CEO in as many years. The future is brighter than this.

There will be some tax-loss selling in the coming weeks, and Vacasa hit another all-time low on Tuesday. Once the bottom is in -- and that could happen before the month ends -- the pieces are in place for a recovery heading into 2023. 

2. fuboTV

Cord-cutters sometimes need more than just the popular streaming services. They long for the phantom limb of the live TV they gave up when they told the cable and satellite TV providers to beat it. There are a couple of live TV platforms with compelling offerings, but fuboTV is the fastest grower in the lot. Its pitch is more than three dozen channels dedicated to live sports, a big part of the itch that legacy carriers used to scratch. 

Two years ago fuboTV thought it could parlay its growing audience of armchair quarterbacks into a base of active gamblers. It made a pair of tactical acquisitions, but two months ago it announced that it was going to fold. The shares initially popped on the surrender of its wager on wagering. Now investors are concerned about the platform's long-term viability.

Viewers keep coming. Revenue soared 40% in its latest quarter. Paid subscribers in North America have risen 31% to top 1.2 million over the past year. Red ink is a problem, but waking up from its riverboat gambler dreams is the first step in a push for cost controls. Live TV online platforms will keep growing in popularity, and streaming service stocks are a good place to be. Shuffle the deck. Eventually fuboTV will be dealt a winning hand.