2024-05-30 16:25:42 ET
Summary
- Cyclical stocks are facing challenges due to inflation and geopolitical uncertainties.
- Fastenal's stock has dropped 16% from its recent highs, presenting a buying opportunity.
- Fastenal's unique distribution model, extensive Onsite locations, and robust e-commerce platform make it a compelling investment.
Introduction
I have good and bad news.
The bad news is that a lot of cyclical companies are currently showing stock price weakness, as it seems that the market is recognizing that cyclical growth is unlikely to rebound soon.
While we're far from a steep sell-off, industrial stocks have weakened and are now trading roughly 4% below their 52-week highs. Cyclical transportation stocks ( XTN ), for example, have sold off 15%....
Read the full article on Seeking Alpha
For further details see:
Fastenal: Why I'm Keeping A Close Eye On This New Dividend Aristocrat