Strategist Steven DeSanctis says that's a mistake, as the stocks are expensive and facing headwinds.Sometimes the old rules don't apply anymore, and people who can't change with the times are setting themselves up for failure.
"We think investors are running the '20 recession playbook and '18 pivot by rotating back to Secular Growth, but that does not make sense to us," he wrote in a recent note."These stocks trade at 40.8x earnings, 3.2x sales, and have seen the biggest cut in '23 estimates." "We have seen a large gap in performance not only across size and style but between the haves and havenots," he wrote."The best performing quintile is beating the worst by nearly 60 percentage points in Small & Mid thus far this year, and so we started our search across stocks that are down on the year."
Health Health Latest News, Health Health Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TODAYshow - 🏆 389. / 55 Read more »