Wall Street bounced back in a major way last week, and that was also the case for my three stocks to avoid. The three names I figured were going to move lower last week -- Anthem (NYSE: ANTM), GameStop (NYSE: GME), and StoneCo (NASDAQ: STNE) -- were up 3%, down 2%, and up 53%, respectively, averaging out to an 18% increase.
The surge in StoneCo was obviously going to be way too much to overcome. The S&P 500 soared 6.2% for the week, so while the market did beat two of those three calls, the overall 18% increase in my bearish calls means I was wrong. This hasn't happened often in the past few months. The S&P 500 has now outperformed my bearish picks -- meaning that I beat the market, as these are stocks I suggest investors avoid -- in 18 of the past 22 weeks. This week, I see AMC Entertainment (NYSE: AMC), BuzzFeed (NASDAQ: BZFD), and Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) as stocks that you may want to consider steering clear from. Let's go over my near-term concerns.
Image source: Getty Images.
Source Fool.com