3 Highly Risky Stocks Investors Might Want to Avoid in 2024
Looking to buy some discounted stocks heading into 2024? There are some good deals in the markets, but there are also some potentially dangerous and risky stocks you may want to steer clear of now. Three stocks investors should tread very carefully with include Altria Group (NYSE: MO), Plug Power (NASDAQ: PLUG), and Canopy Growth (NASDAQ: CGC). Here's why you may want to think twice before adding these stocks to your portfolio.
Tobacco giant Altria faces an uncertain future. Cigarette smoking is on the decline and the company is trying to transition to less harmful products, but that's easier said than done. Over the past nine months, the company has generated $18.5 billion in revenue, and of that, $16.5 billion has come from its smokable products. That's nearly 90% of its business.
Its bread and butter is based on an industry that's in decline. The company says that the volume of domestic cigarette shipments has dropped 10.5% year to date. While its revenue won't go to zero tomorrow, this is a big problem that Altria needs to sort out before being a tenable long-term investment.
Source Fool.com
