These 12 cheap stocks are off to a good start in 2023, and Wall Street sees one jumping 50%
After a brutal year for growth stocks, some companies are trading at steeper discounts on a price-to-earnings basis than they have in recent history, and that could present an opportunity for investors. Stock tumbled in 2022 to their worst yearly performance since 2008 . The tech-heavy Nasdaq Composite Index plummeted more than 33%, while the S & P 500 shed 19.4% as the Federal Reserve hiked rates to subdue cripplingly high inflation, leading to mounting fears that a recession would follow.
mountain 2021-12-31 Amazon shares since 12/31/21 Media stocks also suffered in 2022 as streaming subscriber growth dwindled and companies faced a weakening advertising environment. Walt Disney got hit hard, dropping nearly 44% in 2022. Shares also reached a 52-week low following a softer-than-expected opening weekend for James Cameron's "Avatar: The Way of Water." Despite last year's pain, Disney shares stand to gain 27% based on analysts' consensus price target.
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