GM - 3 Stocks to Avoid This Week
I took a look at three stocks to avoid last week, and I was right. All three stocks declined between 5% and 13%, checking in with an average slide of 9.7% for the holiday-abridged trading week. It wasn't a good week in general for Wall Street, but the market itself only suffered a 2.5% dip.
Let's move to the week ahead, but first we bid farewell to a staple over the past month. Tesla Motors (NASDAQ: TSLA) spent the past four weeks on this list. I was early, figuring that the pre-split surge was getting out of hand. The electric car maker soared through the first two weeks before falling sharply the past two after the split went into effect. It was still a bad overall call. Tesla Motors rose 13% in the span of those four weeks. With a highly anticipated media event set for later this month, it's probably best for bears to stay on the sidelines.
For this week, I see Herman Miller (NASDAQ: MLHR), Nikola (NASDAQ: NKLA), and Norwegian Cruise Line (NYSE: NCLH) as vulnerable investments in the near term. Here's why I think these are three stocks to avoid this week.