3 Stocks to Avoid This Week
My three stocks to avoid column for last week got off to a brutal start. The three names I figured were going to move lower for the week -- GameStop (NYSE: GME), Chewy (NYSE: CHWY), and AMC Entertainment (NYSE: AMC) -- soared on Monday. All three stocks would go on to decline over the final four trading days of the week, but only one of them fell enough to offset the initial Monday pop. GameStop, Chewy, and AMC Entertainment rose 15%, fell 11%, and climbed 9% last week, respectively, averaging out to a hearty 4.3% increase.
The S&P 500 rose a mere 0.1% for the week, so I fell well short on my stocks to avoid. The S&P 500 has still outperformed my bearish picks -- meaning that I beat the market, as these are stocks I suggest investors avoid -- in 18 of the past 24 weeks, but I've been off the past couple of weeks. This week, I see Walgreens Boots Alliance (NASDAQ: WBA), Lamb Weston (NYSE: LW), and Grocery Outlet Holding (NASDAQ: GO) as stocks that you may want to consider steering clear from. Let's go over my near-term concerns.
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