Yesterday, the S&P 500 closed above 1,700 for the first time in six weeks, bringing the benchmark index’s year-to-date gains to just under 20%.
Not too shabby.
In fact, when I screened for U.S. stocks that had a market capitalization north of $300 million and were down more than 5% year-to-date, only 11% of 2,655 stocks fit the bill.
Some of those 285 stocks sitting in the red are down a decent amount for good reason … but others have been unfairly punished. With that in mind, they could be solid choices for value-oriented investors.
Let’s take a look at a few oversold stocks in the teen retail, pet supplies, cloud and dieting spaces investors should consider buying now.