2 Stocks to Skip, Plus 1 Promising Pick

Crowdstrike and Bed Bath & Beyond are sitting at multi-year lows

Digital Content Manager
Jan 5, 2023 at 12:42 PM
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Investors are keeping a close eye on the market today, as hope for a New Year's rally begins to dwindle. There are three names in particular, though, that have caught our eye: American auto manufacturer Ford Motor Company (NYSE:F), embattled home goods retailer Bed Bath & Beyond Inc (NASDAQ:BBBY), and cloud-based software name Crowdstrike Holdings Inc (NASDAQ:CRWD)

Ford Reports 3.2% Jump in December Sales

Ford stock is brushing off today's selloff, last seen up 1.7% at $12.22, following the company's December sales report. Ford posted a 3.2% year-over-year rise in sales last month. This number was helped by electric vehicle sales, which saw a 222.6% jump. The stock is currently rallying off a familiar floor at the $11 mark, though its 20-day moving average remains as potential resistance. 

Bed Bath & Beyond Plunges Deeper Into Penny Stock Territory

Shares of Bed Bath & Beyond shed almost a quarter of their valuation this afternoon -- last seen down 24.9% at $1.81 -- after warning that it could soon run out of cash and is now considering bankruptcy. The retailer said worse-than-anticipated sales are a driving factor, and it's now exploring several financial channels. The stock is trading at its lowest level in over 30 years, and now suffers an 86.5% year-over-year deficit. 

Crowdstrike Hit With Bear Notes 

Software concern Crowdstrike just posted weak sequential key metrics for its fourth quarter, leading several analysts to throw in the towel. No less than three analysts slashed their price targets. Jefferies lowered its price estimate to $120 from $175, and downgraded the stock to "hold" from "buy." The 12-month consensus price target of $179.32 still sits at a lofty 86.2% premium to current levels. Meanwhile, all but two of the 34 analysts in coverage called CRWD a "buy" or better, heading into today. The security was last seen down 9.1% at $94.91, sitting at its lowest level since August 2020. 

 

 

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