2 Stocks to Avoid in 2023
The tailwinds of the pandemic are gone. Multiple rounds of stimulus payments have run their course, and now persistently high inflation is eating away at household budgets. Interest rates have rapidly risen, and the odds of a recession in 2023 are uncomfortably high.
This economic environment is going to make it very clear which companies have sustainable business models that can weather a fierce storm, and which were propped up by those pandemic tailwinds and now face a reckoning. Beyond Meat (NASDAQ: BYND) and fuboTV (NYSE: FUBO) appear to be in the latter category, and investors would be wise to keep their distance in the new year.
Consumers are turning away from expensive fake meat products, and it's not just because of inflation. A recent survey from Deloitte paints a not-so-pretty picture for the industry. High prices are certainly a problem, with the percentage of consumers willing to pay a premium for plant-based meat in decline. But there are more existential issues.
Source Fool.com
