This FTSE 250 stock is dirt cheap. Here’s why I would still avoid it

A cheap stock price can appear too good to be true. I believe this is the case for FTSE 250-listed First Group (LSE:FGP). Despite a dirt cheap price, there is just too much risk for it to be a viable investment in my opinion. 

FTSE 250 opportunity or one to avoid?

First Group is a leader in the passenger transport industry and splits its business across five main divisions. These include an extensive bus and rail network. It possesses a broad footprint across the UK and North America employing over 100,00 people. FGP operates, manages, or maintains a fleet of nearly 60,000. Last year alone, it boasted carrying over 2bn passengers across its platforms.

Covid-19 and the ensuing market crash ravaged the FGP share price. Between February and March of this year, it lost nearly 80% of its share price value. It tumbled to 28p per share, from over

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