CGNX - 2 Stocks Down More Than 60% to Buy Right Now
2023-11-30 13:21:00 ET
While the S&P 500 has gained nearly 20% so far this year, some stocks have hugely underperformed the market and are significantly off their all-time highs. Higher interest rates have been the biggest growth hurdle for most companies, with investors fearing the headwind could last much longer.
But fear often clouds conviction and can mean missed opportunities. Companies taking advantage of solid growth catalysts should be able to navigate the storm, and their stock prices could rebound in the near future as the markets finally begin to see value in them.
Two such beaten-down stocks that look like solid buys now are NextEra Energy Partners (NYSE: NEP) and Cognex (NASDAQ: CGNX) . After their recent sell-offs, both stocks are now down more than 60% from their all-time highs, making it an opportune time to buy. Here's why these two Motley Fool contributors think so.
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2 Stocks Down More Than 60% to Buy Right Now