2 Beaten-Down Stocks That Could Recover in 2023
There are some good deals out there for investors heading into 2023. The 2022 bear market crushed some stocks and their valuations, creating some attractive buying opportunities as result.
A couple of stocks that struggled this year that investors should consider taking a contrarian position in today include Walgreens Boots Alliance (NASDAQ: WBA) and Adobe (NASDAQ: ADBE). Here's why these two stocks can turn things around in 2023 and do better than expected.
Share prices of retailing pharmacist Walgreens are down 22% so far in 2022, performing worse than the S&P 500 index and its 17% loss over the same time frame. There simply hasn't been much excitement around a business that operates on small profit margins and is facing tough year-over-year comparisons because it got a boost from increased customer traffic related to COVID-19 vaccinations in the past few years.
Source Fool.com
