Four Stocks to Avoid as 2024 Approaches\n\nAs the year 2024 approaches, investors are looking to optimize their portfolios and identify which stocks to sell. While divesting may not be the most exciting part of investing, it is crucial to avoid liabilities and maintain a strong portfolio. Here are four stocks that investors should consider avoiding as they plan for the future.\n\nOne stock to avoid is Canoo (GOEV), a once-promising contender in the electric vehicle space. The company’s dual strategy of manufacturing and licensing has fallen flat, leading to zero sales last quarter and a warning from its auditor about its dwindling lifeline. As a result, the stock has plummeted 81% year-to-date, making it a cautionary tale in the SPAC-fueled tech flurry.\n\nAnother stock to consider selling is Tupperware (TUP), a former meme stock that has struggled to convert revenue into profit. With declining sales and a lack of transparency, Tupperware’s days of glory appear to be fading. As a result, it may be best to deem this stock as a relic unfit for revival.\n\nMoatable (MTBL) is another stock that has failed to pique investor interest, despite its interesting business model. While the company boasts double-digit top-line growth, its sales have shrunk by 71.6% from its 2017 figure. Additionally, its profitability metrics are deplorable, making it a risky investment.\n\nLastly, Carvana (CVNA), an online used car marketplace, has seen impressive revenue growth but has also reported widening losses. The company’s growth strategy is capital intensive, resulting in massive losses and a likely continued pressure on the stock.
” Four Stocks to Avoid as 2024 Approaches\n\nAs the year 2024 approaches, investors are looking to optimize their portfolios and identify which stocks to sell. While divesting may not be the most exciting part of investing, it is crucial to avoid liabilities and maintain a strong portfolio. Here are four stocks that investors should consider avoiding as they plan for the future.\n\nOne stock to avoid is Canoo (GOEV), a once-promising contender in the electric vehicle space. The company’s dual strategy of manufacturing and licensing has fallen flat, leading to zero sales last quarter and a warning from its auditor about its dwindling lifeline. As a result, the stock has plummeted 81% year-to-date, making it a cautionary tale in the SPAC-fueled tech flurry.\n\nAnother stock to consider selling is Tupperware (TUP), a former meme stock that has struggled to convert revenue into profit. With declining sales and a lack of transparency, Tupperware’s days of glory appear to be fading. As a result, it may be best to deem this stock as a relic unfit for revival.\n\nMoatable (MTBL) is another stock that has failed to pique investor interest, despite its interesting business model. While the company boasts double-digit top-line growth, its sales have shrunk by 71.6% from its 2017 figure. Additionally, its profitability metrics are deplorable, making it a risky investment.\n\nLastly, Carvana (CVNA), an online used car marketplace, has seen impressive revenue growth but has also reported widening losses. The company’s growth strategy is capital intensive, resulting in massive losses and a likely continued pressure on the stock.”$TTOO2023-12-21T19:16:13.655Z
