However, at current levels, SQ stock is attractively priced. The increased focus on cryptocurrencies has unnerved some risk-averse investors. The company recently announced plans to launch a Bitcoin (CCC: BTC-USD) mining system, and also holds a sizable amount of physical BTC, whose price has been extremely volatile this year. The rebrand has been so poorly received that accounting firm H&R Block (NYSE: HRB) is suing Block for “trademark infringement.”īlock founder and CEO Jack Dorsey, who stepped down from his dual role leading Twitter (NYSE: TWTR) last year so that he can concentrate exclusively on running Block, is a notorious crypto bull and is expected to pivot the financial technology company more towards digital coins. Today, SQ stock is down 60% from its 52-week high of $289.23. The switch has not been well-received by investors. In an effort to reflect its growing interest in cryptocurrencies and the underlying “blockchain” that underpins digital coins and tokens, the company previously known as Square announced it would now be known as Block. Shares of digital payments company Block haven’t been the same since the San Francisco-based company announced a rebrand and name change last year. More recently, DIS stock fell nearly 7% after the most recent earnings from Netflix (NASDAQ: NFLX) showed that competition is eating into its subscriber growth. However, some market observers say Disney stock has now been punished enough and are encouraging investors to buy the dip. Analysts and investors seemed less concerned that Disney’s theme parks and cruise lines are reopened and focused on the slowing subscriber numbers. Wall Street expected Disney to add 9.4 million new subscribers in the company’s fiscal fourth quarter, but the company added only 2.1 million new Disney+ subscribers. While the overall earnings at Disney were disappointing, what really sent the stock lower was the company’s announcement that subscriber growth at Disney+ slowed. The slump came after Disney issued disappointing earnings in November, missing analyst expectations for both revenue and earnings per share. However, since the start of the fourth quarter last year, Disney’s share price has declined 20%. And DIS stock got a big boost during the pandemic as the Disney+ streaming service took off, adding nearly 120 million subscribers in the two years after it launched in autumn 2019.įrom the onset of the pandemic in March 2020 through September 2021, DIS stock gained 114%. With so many stocks substantially off their 52-week highs, we thought we’d look at three cheap stocks to buy now before they take back off.Įntertainment giant Disney is usually a reliable bet. Ark Invest’s ( NYSEARCA: ARKK) Cathie Wood said recently that “ innovation is on sale” as she doubled down on many of the technology holdings in her actively managed exchange trade funds. However, many analysts on Wall Street see this year’s decline as a correction not a crash and are urging investors to buy stocks that have come down 20%, 50%, or more, in recent weeks. The technology heavy Nasdaq index had a worse go of it, falling 9% in January, also its worst month since the onset of the global pandemic. January was the index’s worst since the Covid-19 induced crash of March 2020. Many stocks that were flying high only a few months ago got taken down hard as the S&P 500 index fell 5.3% during the first month of the year. Now is the time to look for cheap stocks to buy before they take back off. January was a rough month for stocks, but the downturn won’t last forever.
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