2 Stocks Down 55% and 71% to Buy Right Now
The stock market got off to a solid start in 2023, with the S&P 500 up nearly 4% (after being up as much as 9% early last month).
Even with the good start, many individual stocks are still deep in bear market territory, and the Federal Reserve continues to telegraph its intention to keep raising interest rates, which seems even likelier after strong January employment and retail sales reports and a hotter-than-expected personal consumption expenditures reading, which is the Fed's favorite inflation gauge.
The good news is that the pressure from rising interest rates and the prospects of a recession are making a lot of quality stocks cheap. Two Motley Fool contributors were asked to explain why 3M (NYSE: MMM) and CarParts.com (NASDAQ: PRTS), which are trading down 55% and 71%, respectively, from recent highs, both look like buys right now.
Source Fool.com
