3 Beaten-Down Stocks I'm Not Giving Up On
It's been a roller coaster ride in the stock markets in 2020. After reaching new all-time highs in February, the market rapidly plunged by nearly 40% by late March as the COVID-19 pandemic brought the world economy to a near-standstill, and has since rebounded to where the S&P 500 is now back to within 15% of the highs.
However, there are some stocks in vulnerable industries such as hotels, banking, and tourism that have yet to make a recovery anywhere near that of the overall market. Three in particular that I own in my personal stock portfolio are Ryman Hospitality Properties (NYSE: RHP), Bank of America (NYSE: BAC), and Empire State Realty Trust (NYSE: ESRT), which are down by 60%, 31%, and 51% so far in 2020, respectively.
Having said that, all of these stocks could still be excellent long-term investments. Here's why I have not only held on but have added to my positions in all three since the pandemic began.
Source Fool.com
