SNBR - 3 Hard-Hit Stocks That Can Bounce Back in 2024
2023-11-29 10:45:00 ET
It's generally been a good year for investors, but not every stock is having a 2023 to remember. There are 180 U.S.-listed stocks with market caps north of $200 million that have fallen by at least 50% this year. Some of them will continue sliding into 2024, but some of these laggards are opportunities.
Chewy (NYSE: CHWY) , Sleep Number (NASDAQ: SNBR) , and Chegg (NYSE: CHGG) have plummeted 50%, 64%, and 59%, respectively, this year. They would have to more than double just to get back to where they were at the start of 2023. Let's go over the reasons why they may have big years in 2024.
It's raining dogs, cats, and downticks for Chewy this year. The leading online retailer specializing in pet products has seen its stock halved, but it's not as if its business is rolling over and playing dead. Chewy is still growing and is now consistently profitable.
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3 Hard-Hit Stocks That Can Bounce Back in 2024