Just because a stock is down substantially doesn't mean it's worth investing in at its current levels. Many companies will rebound from the ongoing downturn as the economy improves, but in all likelihood, many others will continue to struggle. Corporations in the latter category are best avoided.

And on that note, let's look at two specific examples: Pot grower Canopy Growth (NASDAQ: CGC) and vaccine maker Vaxart (NASDAQ: VXRT). These two stocks have dropped by more than 70% in the past 12 months. Here's why a rebound isn't in the cards for either one.

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Source Fool.com