Wall Street Has Given Up on These 3 Stocks, and That's a Huge Mistake
Wall Street loves a story, often pushing stocks to extremes based on a mutually agreed-upon narrative. That feels great when the narrative is a positive one, but it can sting pretty badly when the story is negative. The thing is, mercurial investors often go too far on the upside and the downside as they extrapolate current trends into the future.
Today, that's holding back the stocks of ExxonMobil (NYSE: XOM), Simon Property Group (NYSE: SPG), and International Business Machines (NYSE: IBM). Each is dealing with headwinds that have them in the Wall Street dog house, but all are likely to survive the troubles and thrive again. Here's a quick rundown on each.
The big knock against Exxon is that it drills for oil, which is destined to be replaced by cleaner alternatives such as solar- and wind-generated electricity. To be fair, that's true -- but it likely won't happen for decades (or longer). The world still needs and wants oil today. However, investors don't care. Almost anything that has to do with oil is on the outs.
Source Fool.com
