Three Stocks to Avoid or Sell Next Week

Seeking out great stocks to buy is important, but identifying quality investments is only half the battle. Many would say it’s even more essential for investors to know which stocks to steer clear of. A losing stock can eat away at your precious long-term returns. So, determining which stocks to trim or eliminate is essential for proper portfolio maintenance.  

Even the best gardens need pruning. Here we’ll cover three stocks that seem like prime candidates for selling or avoiding next week.

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Black Hills Corporation (BKH)

Natural gas producer Black Hills Corporation reset its growth outlook lower after reporting disappointing Q4 results, slashing its 2023 EPS view to $3.65-$3.85 from $4.00-$4.20. The revision was driven by a rapid shift in macroeconomic factors, including elevated natural gas price volatility and higher natural gas demand driven by winter storm Elliot in December 2022. With elevated natural gas price volatility, higher interest rates, and general inflationary pressures forecasted through 2024, Black Hills is only expected to grow earnings by 2% in 2024 and 4% in 2025.

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Highly Recommended:

Why did Nancy Pelosi’s husband recently buy $1.5 million worth of this stock?

While millions of Americans are struggling through inflation and holding on to cash for dear life… Nancy Pelosi and her husband, who made headlines after growing their wealth by $16.7 million during the crisis back in 2020…

Recently moved $1.5 million into the stock of a company that’s consistently been ranked as the #1 most valuable company in the world.

And they’re not alone…Warren Buffet recently put in $600 million into the very same stock.

Making gas-powered cars obsolete.

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Funko Inc. (FNKO) 

This  week pop culture consumer products company Funko, Inc. announced a set of leadership changes that include a C-suite management shakeup, a COO role creation, and the introduction of an execution consultant following several missteps over the last two quarters. The changeover in management could take several quarters to reset and could present challenges in building investor confidence. FNKO shares currently trade at a premium to its historical averages and near the high end of its relative valuation range versus the S&P 500. The stock’s rich valuation seems unwarranted, considering the high degree of execution risk.

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US Dollar Replaced By “Biden Bucks”?

A former advisor to the CIA and Pentagon now believes President Biden plans to retire the US dollar we know.

And replace it with what he calls “Biden Bucks”. It is underway.

On March 9, Biden signed Executive Order 14067, which could pave the way for Biden Bucks.

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Carvana (CVNA) 

Used car prices skyrocketed coming out of the pandemic. However, it looks like the used car market is entering a correction, with some analysts calling for an impending collapse. The Manheim Used Vehicle Value Index showed that used car prices sank 14.9% year-over-year in December 2022, the largest annualized price decline in the 26-year history of that index.

Due to the steep decline in used car prices, Carvana stock has lost 95% of its value over the last 12 months. The company’s profit per vehicle was lower by 25% in 2022. Meanwhile, its total debt stands at $9.25 billion, with only $650 million of cash on hand. There have also been confirmed media reports that the company’s creditors have signed an agreement on handling negotiations with Carvana if it goes bankrupt. That’s not a good sign.

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