Everyone knows what a cheap stock is. Or do they? To some people, a cheap stock is one that is low-priced, like SunEdison (SUNE), currently trading at less than a dollar per share. People who like these stocks generally don’t have a lot of money to invest, and they like the fact that they can buy 100 shares of stock for less than $100 (plus commission). To other people, like Warren Buffet, a cheap stock is one that is selling at a price that’s below its true value.