Top 5 Consumer Stocks That May Explode In May
Portfolio Pulse from Lisa Levin
The most oversold stocks in the consumer discretionary sector, with RSI values near or below 30, include Foot Locker (FL), Noodles & Company (NDLS), Mullen Automotive (MULN), The Container Store Group (TCS), and Lordstown Motors (RIDE). These stocks present potential opportunities for investors to buy into undervalued companies.
May 22, 2023 | 12:43 pm
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NEGATIVE IMPACT
Foot Locker reported worse-than-expected Q1 results and lowered its FY23 guidance, causing its stock to fall 27.2% to close at $30.21 on Friday.
Foot Locker's worse-than-expected Q1 results and lowered FY23 guidance indicate potential short-term negative impact on its stock price. The RSI value of 26.01 suggests the stock is oversold, which may attract investors looking for undervalued opportunities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Mullen Automotive reported a Q2 net loss attributable to shareholders of $114.9 million, causing its stock to drop 10.1% to close at $1.07 on Friday.
Mullen Automotive's Q2 net loss indicates potential short-term negative impact on its stock price. The RSI value of 25.31 suggests the stock is oversold, which may attract investors looking for undervalued opportunities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Noodles & Company announced CFO Carl Lukach's departure and received a downgrade from Stephens & Co analyst Joshua Long, causing its stock to fall 14.4% to close at $3.26 on Friday.
The departure of Noodles & Company's CFO and the downgrade from Stephens & Co analyst Joshua Long indicate potential short-term negative impact on its stock price. The RSI value of 21.81 suggests the stock is oversold, which may attract investors looking for undervalued opportunities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Lordstown Motors expressed substantial doubt about its ability to continue as a going concern, causing its stock to drop 9.4% to close at $0.2746 on Friday.
Lordstown Motors' statement expressing substantial doubt about its ability to continue as a going concern indicates potential short-term negative impact on its stock price. The RSI value of 27.54 suggests the stock is oversold, which may attract investors looking for undervalued opportunities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Container Store Group posted upbeat earnings for Q4, but its stock fell 10.8% to close at $2.24 on Friday.
Despite upbeat Q4 earnings, The Container Store Group's stock price fell, indicating potential short-term negative impact. The RSI value of 21.49 suggests the stock is oversold, which may attract investors looking for undervalued opportunities.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100