{"id":6193,"date":"2022-07-12T10:24:31","date_gmt":"2022-07-12T10:24:31","guid":{"rendered":"https:\/\/peymantaeidi.net\/stem-cell\/?p=6193"},"modified":"2022-10-18T17:00:12","modified_gmt":"2022-10-18T17:00:12","slug":"7-wildly-oversold-nasdaq-stocks-to-buy-now","status":"publish","type":"post","link":"https:\/\/peymantaeidi.net\/stem-cell\/2022\/07\/12\/7-wildly-oversold-nasdaq-stocks-to-buy-now\/","title":{"rendered":"7 Wildly Oversold Nasdaq Stocks to Buy Now"},"content":{"rendered":"

In most circumstances, investors should avoid catching a falling knife. However, speculators who understand the risks involved may want to consider wildly oversold Nasdaq<\/strong> stocks to buy now. Historically levered to the technology sector, the Nasdaq exchange features a wide range of eclectic and exciting businesses, many with tremendous upside potential \u2014 if you have the nerve to participate.<\/p>\n

The last point is an important one to consider. While the benchmark S&P 500<\/strong> index is down 19% on a year-to-date (YTD) basis, the Nasdaq Composite<\/strong> index is down 27% \u2014 basically mired in correction territory. At the same time, the wildly oversold Nasdaq stocks to buy feature a much greater \u201cspring-back\u201d potential effect.<\/p>\n

Naturally, the prospects of ridiculous, possibly lifechanging profitability keeps people coming back for more. If you can control your emotions and know when it\u2019s time to call it quits without any debilitating regrets, the oversold Nasdaq stocks to buy could be a strong addition to your portfolio. Just shore up your money management tactics before you proceed.<\/p>\n

Here are seven oversold Nasdaq stocks to buy now:\n<\/p>\n\n\n\n\n\n\n\n\n\n\n
Ticker<\/strong><\/td>\nCompany<\/strong><\/td>\nPrice<\/strong><\/td>\n<\/tr>\n
CAR<\/u><\/strong><\/a><\/span><\/td>\nAvis Budget Group, Inc.<\/td>\n$150.95<\/td>\n<\/tr>\n
CGC<\/u><\/strong><\/a><\/span><\/td>\nCanopy Growth Corporation<\/td>\n$2.37<\/td>\n<\/tr>\n
WW<\/u><\/strong><\/a><\/span><\/td>\nWW International, Inc.<\/td>\n$6.82<\/td>\n<\/tr>\n
WOOF<\/u><\/strong><\/a><\/span><\/td>\nPetco Health and Wellness Company, Inc.<\/td>\n$15.49<\/td>\n<\/tr>\n
RIVN<\/u><\/strong><\/a><\/span><\/td>\nRivian Automotive, Inc.<\/td>\n$30.29<\/td>\n<\/tr>\n
EYPT<\/u><\/strong><\/a><\/span><\/td>\nEyePoint Pharmaceuticals, Inc.<\/td>\n$7.87<\/td>\n<\/tr>\n
ARBK<\/u><\/strong><\/a><\/span><\/td>\nArgo Blockchain plc<\/td>\n$4.23<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Oversold Nasdaq Stocks: Avis Budget Group (CAR)<\/h2>\n
\"the<\/p>\n
Source: Brookgardener \/ Shutterstock.com<\/div>\n<\/div>\n

It\u2019s likely not going to catch anyone by surprise that Avis Budget Group<\/strong> (NASDAQ:CAR<\/u><\/strong><\/a><\/span>) is one of the wildly oversold Nasdaq stocks. In the trailing month, shares of the rental-car service provider dropped around 15%. Naturally, with the purchasing power<\/a> of the U.S. dollar declining by a double-digit magnitude over the roughly trailing two-year period, many consumers are looking to save money.<\/p>\n

At the same time, however, households are looking to spend money, particularly on experiential events. One of the talking points that went missing about the recent poor earnings reports by big-box retailers is that consumers transitioned their spending from physical goods to travel-related acquisitions. Therefore, travel statistics for Memorial Day weekend<\/a> were relatively strong considering the devastating impact of the pandemic.<\/p>\n

But will it be strong enough to support sustained demand for the travel industry? Frankly, it\u2019s questionable, although if you believe in this narrative, CAR could turn out to be one of the oversold Nasdaq stocks to buy.<\/p>\n

Canopy Growth (CGC)<\/h2>\n
\"Closeup<\/p>\n
Source: Ralf Liebhold \/ Shutterstock<\/div>\n<\/div>\n

It\u2019s confession time: I\u2019ve introduced my fair share of concerns about the legal cannabis industry<\/a>. The most pressing argument against companies like Canopy Growth<\/strong> (NASDAQ:CGC<\/u><\/strong><\/a><\/span>) is the black market. With illicit sources of the green stuff priced much cheaper than their legal counterparts, consumers will be tempted to go with the former, especially with law enforcement agencies focused on more serious matters.<\/p>\n

Plus, it\u2019s not like illegal growers are going to request an official license to conduct their operations. Thus, at almost every corner, they can undercut the legal businesses. So, why mention CGC as one of the oversold Nasdaq stocks to buy?<\/p>\n

For one thing, evidence shows that certain \u201cvice\u201d behaviors increase<\/a> during hard times like recessions. Second, people will obviously be interested in botanicals to take the edge off. However, it\u2019s well within reason that folks will want to do so legally considering the huge risks for getting caught participating in illicit activities. Thus, CGC stock offers a legitimate narrative for gamblers.<\/p>\n

Oversold Nasdaq Stocks: WW International (WW)<\/h2>\n
\"Indianapolis<\/p>\n
Source: Jonathan Weiss \/ Shutterstock.com<\/div>\n<\/div>\n

One of the toughest pills to swallow in this list of oversold Nasdaq stocks to buy, weight-management specialist WW International<\/strong> (NASDAQ:WW<\/u><\/strong><\/a><\/span>) presents challenges for both conservative investors and hardened speculators because its crimson print isn\u2019t wholly unjustified. On a YTD basis, WW is down a staggering 53.7%.<\/p>\n

If that wasn\u2019t enough to raise eyebrows, you can then look at its financials. In the first quarter (Q1) of 2022, WW International posted $298 million in revenue<\/a>, which was down slightly over 10% against the year-ago quarter\u2019s result. The one \u201cpositive\u201d was that it posted a net loss of $8 million, which was more favorable than the net loss of $18 million in Q1 2021.<\/p>\n

Still, according to Harvard Health Publishing<\/em>, 39% of medical patients gained weight<\/a> during the coronavirus pandemic, defined as above the normal fluctuations of 2.5 pounds. This implies that the greater public also tacked on unwanted weight, making WW one of the relevant and oversold Nasdaq stocks to buy.<\/p>\n

Petco Health and Wellness (WOOF)<\/h2>\n
\"The<\/p>\n
Source: Walter Cicchetti \/ Shutterstock.com<\/div>\n<\/div>\n

An American pet retailer, Petco Health and Wellness<\/strong> (NASDAQ:WOOF<\/u><\/strong><\/a><\/span>) is struggling, which might be a surprise. According to the American Pet Products Association, 70% of U.S. households<\/a>, or approximately 90.5 million families, own a furry friend or critter. So, you might assume WOOF would at least be at parity.<\/p>\n

Not so. On a YTD basis, WOOF is down around 20%, likely reflecting concerns among consumers who are tightening their belts. In addition, supply chain disruptions and other economic impacts have resulted in a lower supply of pet-related products. Still, for those willing to take some risks, WOOF could be one of the oversold Nasdaq stocks to buy.<\/p>\n

Financially, the company is doing well despite the pressures to the industry. In its latest earnings report for the quarter ended Apr. 30, 2022, Petco posted $1.48 billion in revenue<\/a>, up 4.3%. Therefore, once supply chain woes for this sector start improving significantly, WOOF could potentially regain bullish momentum.<\/p>\n

Oversold Nasdaq Stocks: Rivian Automotive (RIVN)<\/h2>\n
\"The<\/p>\n
Source: Miro Vrlik Photography \/ Shutterstock.com<\/div>\n<\/div>\n

As popular as electric vehicles (EVs)<\/a> are, Rivian Automative<\/strong> (NASDAQ:RIVN<\/u><\/strong><\/a><\/span>) has caused many a tummy ache for early bird investors. On a YTD basis, RIVN stock has plunged around 69%. Since its first public close, the equity unit has dropped 75%. Of course, the real kicker is that Rivian featured an initial offering price of $78 per share.<\/p>\n

At the time of writing, the stock is trading hands for just under $33. This is just one example of how participating in an initial public offering (IPO) \u2014 even on a pre-IPO basis \u2014 can be hazardous to your portfolio. Still, is there a case to be made that Rivian is one of the oversold Nasdaq stocks to buy now?<\/p>\n

I\u2019m going to be upfront: no one knows for sure whether the bottom is in. However, it is possible that based on near-term price action, the bottom could have been printed on May 11 with a $20.60 closing price. Fundamentally, Rivian\u2019s attractive EVs are geared toward affluent consumers, making RIVN credible as a business plan. Nevertheless, execution is another story, so please wager carefully.<\/p>\n

EyePoint Pharmaceuticals (EYPT)<\/h2>\n
\"A<\/p>\n
Source: Shutterstock<\/div>\n<\/div>\n

Generally speaking, biotechnology and advanced pharmaceutical companies tend to be binary affairs. The underlying science is exceptionally intriguing, perhaps being on the cusp of game-changing therapeutics. At the same time, going through the clinical trials can be a dog. So, the losses suffered by EyePoint Pharmaceuticals<\/strong> (NASDAQ:EYPT<\/u><\/strong><\/a><\/span>) could be justified.<\/p>\n

Or, they might not be justified, perhaps making EYPT one of the oversold Nasdaq stocks to buy now. On a technical analysis perspective, I\u2019m very intrigued at EyePoint\u2019s time-of-writing price of $7.93. It\u2019s somewhat near the $10 to $11 delineation point between bullishness and bearishness that extends back to late 2008. Further, the $8.70 support line has been well established since August 2021. If shares can get back there, speculators may be in business.<\/p>\n

Fundamentally, the business is compelling. EyePoint specializes in utilizing microelectromechanical systems and nanotechnology to address rare eye diseases and conditions. Given that more attention is paid to biotech developments in the wake of the rapid response to Covid-19, EyePoint might be a name to consider.<\/p>\n

Oversold Nasdaq Stocks: Argo Blockchain (ARBK)<\/h2>\n
\"An<\/p>\n
Source: Venomous Vector\/Shutterstock<\/div>\n<\/div>\n

One of the worst-performing securities in the market, Argo Blockchain<\/strong> (NASDAQ:ARBK<\/u><\/strong><\/a><\/span>) is down 65% YTD. But that\u2019s not the most worrisome part. Rather, investors are clearly anxious about Argo\u2019s upside viability. Billed as the most innovative cryptocurrency mining technology, Argo used to be a hot commodity when it launched its IPO in September 2021. These days, not so much.<\/p>\n

Of course, the problem comes down to where cryptos<\/a> are headed next. If it is to the proverbial moon, then ARBK could easily be one of the top-performing oversold Nasdaq stocks to buy. With all that can go wrong in the virtual currency space, such as cyberattacks, it\u2019s good to have centralized exposure to decentralized assets.<\/p>\n

However, it\u2019s a huge question mark whether cryptos will recover. Personally, I\u2019m on the skeptical side, although as a stakeholder of digital assets, I\u2019d love to be proven wrong. Nevertheless, I\u2019m not about to assume that every reader shares my opinion. If you think the blockchain could roar back, ARBK stock might be an opportunity for you.<\/p>\n

On the date of publication, Josh Enomoto<\/em> did not have (either directly or indirectly) any positions in the securities mentioned in this article. <\/em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <\/em>Publishing Guidelines<\/em><\/a>.<\/em><\/p>\n

\n

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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