SE - Why 2 Overlooked Technology Stocks Down 90% Might Be Among the Best Value Plays in 2024
2024-01-09 05:47:00 ET
The stock market had a great year in 2023. The S&P 500 index climbed by 26.3% (including dividends), which is more than twice its average annual return going all the way back to 1957. It now trades just 2.1% away from a new record high.
Many popular technology stocks like Nvidia , Microsoft , and Apple are also trading near their all-time highs. These strong conditions might leave investors thinking there is little value left in the technology sector, but I've identified two stocks that appear incredibly cheap relative to their fundamentals and their historical valuations.
Redfin (NASDAQ: RDFN) and Sea Limited (NYSE: SE) operate in entirely different industries, and both companies faced headwinds that have sent their stocks down 90% from their all-time highs. But here's why the stage might be set for a powerful comeback in 2024.
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Why 2 Overlooked Technology Stocks Down 90% Might Be Among the Best Value Plays in 2024