Wall Street Has Given Up on These 3 Stocks, and That's a Huge Mistake
The stock market isn't always rational. If it was, it would give more credit to companies that are in short-term trouble but have tremendous future potential. The Walt Disney Company (NYSE: DIS), American Express (NYSE: AXP), and Skechers (NYSE: SKX) are all companies that are riding out the COVID-19 disaster with plans for high growth.
Travel and entertainment stocks have suffered acutely during the pandemic as people stay home, and entertainment giant Disney is no exception. Its huge theme parks and experiences, such as cruises and resorts, typically make up the largest revenue-generating segment. But in the third quarter that ended June 27, when most of its parks were still closed, its revenue declined 85%, contributing to a 42% overall decline. It's no wonder Wall Street wasn't thrilled.
Image source: The Walt Disney Company.
Source Fool.com
