With the Nasdaq Composite down nearly 35% from its all-time high, the index has a long way to go before emerging into bull-market territory. Among the index are several names that have been heavily sold off. While the initial sell-off phase was warranted due to extreme valuations, sellers have gone too far, giving new buyers the advantage.
Among the names investors will be kicking themselves for not buying now are Amazon (AMZN 2.99%), MercadoLibre (MELI 5.72%), and Airbnb (ABNB 1.91%). This trio is a proven group of winners, and I think 2023 will be a turnaround year for their stocks.
The latest headline from Amazon isn’t a positive one: 18,000 employees laid off. But, despite the negative connotations layoffs typically have, most investors applaud this move.
After aggressively hiring to support increased demand in the year prior, Amazon is backtracking to correct some of its mistakes by…