3 Top Stocks to Buy Before the New Year
Investors have struggled to shield themselves from the broad downward trend in the stock market this year, as high inflation and rising interest rates have sent share prices tumbling. But what if those two factors are slowly fading? U.S. inflation, for example, has now declined for four straight months, and if that trend picks up momentum into the new year, then 2023 could feature far more positive conditions for investors.
We asked three Motley Fool contributors to identify beaten-down stocks that they think could turn around in that scenario, and they pointed us to Redfin (NASDAQ: RDFN), Semrush (NYSE: SEMR), and Shopify (NYSE: SHOP).
Anthony Di Pizio (Redfin): Real estate stocks may be among the least appealing investments you can hold when interest rates are rocketing higher. Illustrating that point, Redfin's share price has declined 95% from its all-time high as mortgage rates have surged upward. But if peak inflation is truly behind us and interest rates will soon stabilize, then the company offers a really attractive value proposition, especially since it has dramatically cleaned up its business this year.
Source Fool.com
