3 Beaten-Down S&P 500 Stocks Ready to Bounce Back
Most of the stocks that make up the S&P 500 (SNPINDEX: ^GSPC) have been down for the past few weeks, but some have been downright beaten to a pulp. While plenty of these steeply sold-off names may have further to fall before finding a bottom, a handful of good stocks have already given up more ground than they should have. Here's a closer look at three of these tickers that are more than ready to rebound.
Weakness from online travel agent Expedia Group (NASDAQ: EXPE) made sense in the early days of the COVID-19 pandemic. Leisure travel was essentially shut down, and few people wanted to take a vacation in the midst of a pandemic anyway. As boredom set in and the world (more or less) got a grip on the coronavirus, travel resumed. So did Expedia's stock's pre-pandemic rally.
Then in early May, it all unraveled again. Expedia shares now sit more than 40% under April's close, reaching new 52-week lows just this week. The company's fiscal first-quarter report and accompanying discussion indicated the omicron variant of the coronavirus -- followed by Russia's invasion of Ukraine -- took a bigger toll on the company's bottom line than expected and could continue to do so. Although Expedia might have been able to push through this worry, troubling guidance from Hilton Worldwide released around the same time was translated as serious trouble for the entire industry, including Expedia.
Source Fool.com
