HOFT - 3 Stocks to Avoid This Week
My three stocks to avoid column for last week shifted away from meme stocks, and it didn't work out for me. The three names I figured were going to move lower for the week -- Walgreens Boots Alliance , Lamb Weston Holdings , and Grocery Outlet Holding -- rose 4%, 8%, and 6%, respectively, averaging out to a beefy 6% increase. The meme stocks I had singled out a week earlier tumbled.
The S&P 500 declined 1.3% for the week, so I fared horribly on a relative and absolute basis. Can I get back to a winning streak? The S&P 500 has still outperformed my bearish picks -- meaning that I beat the market, as these are stocks I suggest investors avoid -- in 18 of the past 25 weeks, but I've been off the past couple of weeks. This week, I see MicroStrategy (NASDAQ: MSTR) , Hooker Furnishings (NASDAQ: HOFT) , and Blink Charging (NASDAQ: BLNK) as stocks you may want to consider steering clear from. Let's go over my near-term concerns.
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3 Stocks to Avoid This Week