Don’t Get Caught Holding Any of These Stocks to Sell in 2023


  • These stocks are suffering right now, have had some cash flow issues lately and have uncertain growth prospects for the future.
  • Workhorse Group (WKHS): The company is burning through cash rapidly, and investor confidence remains depressed.
  • Aurora Cannabis (ACB): Dilution and lackluster top-line growth are reasons why you shouldn’t expect a comeback from this one anytime soon.
  • SNDL (SNDL): The company is transitioning into a cannabis retail company, leading to some recent setbacks.
stocks to sell - Don’t Get Caught Holding Any of These Stocks to Sell in 2023

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Some factors that may be worth considering when deciding which stocks to sell include market trends, industry trends and overall analyst sentiment around each given stock.

For example, if a particular industry is struggling or if an individual company is facing major losses or scandals, it may be wise to liquidate one’s holdings in that company’s stock and look for more promising opportunities elsewhere.

Ultimately, it is up to each investor to decide what strategy works best for them. Still, understanding which stocks are worth selling can certainly help position oneself for success in the world of investing.

Many investors research what stocks to buy based on their recent performance in the market, hoping that they will continue to rise in value. In reality, it is often more prudent to sell stocks before they inevitably start going down again.

Prudent investors stay ahead of the curve and continuously reassess their portfolios to avoid investing too heavily in “toxic stocks.” Knowing which stocks are worth selling now can help ensure a more stable investment strategy and greater long-term financial success.

Selling stocks is a great way for investors or traders to take profits from their investments and try other opportunities. Here are three stocks you should consider selling right now:

WKHS Workhorse Group $2.33
ACB Aurora Cannabis $1.10

Workhorse Group (WKHS)

Image of a Workhorse (WKHS) logo and drone on the side of a truck.
Source: Photo from

Workhorse Group (NASDAQ:WKHS) is one of the leading companies in the field of electric delivery vehicles and drones. The company’s products are designed specifically for last-mile delivery applications.

The company was one of the frontrunners for a $6 billion contract with the U.S. Postal Service, but sold off when it failed to secure the contract. That is not why the company finds itself on this list of stocks to sell.

The company has not performed despite CEO Richard Dauch and his team working to ramp up production. Workhorse has an attractive suite of products, and there are plans to achieve full production capacity soon. It is expected to grow a line of commercial Class 3 through Class 6 products by 2024.

Nevertheless, investors are not biting. The markets likely want some concrete information regarding production plans before committing any cash. The company believed production would start in the third quarter. But so far, we do not have information regarding this development.

Meanwhile, Workhorse ended Q2 with a cash balance of $140 million. The figure is down substantially from $202 million at the start of the year. Cash burn is a big issue with investors these days, and it doesn’t look like the situation will get better for the EV company anytime soon.

With the demands of its business constantly changing and new technological developments, the company must continue to grow and innovate. All of this will require more cash, putting more pressure on the company and the stock.

Aurora Cannabis (ACB)

Closeup of mobile phone screen with logo lettering of cannabinoid company Aurora Cannabis (ACB, blurred marijuana leaf (focus on left part of letter R in center)
Source: Ralf Liebhold /

Aurora Cannabis (NASDAQ:ACB) was one of the early companies that bet big on the lucrative cannabis market, forging ahead with ambitious expansion plans to get a piece of the rapidly growing industry.

Despite all its efforts, Aurora ultimately fell short of expectations, as the company struggled to capitalize on the hype surrounding cannabis in Canada. Too much investor interest and demand for cannabis stocks drove prices to unsustainable levels.

Furthermore, Aurora’s business model was based largely on acquisitions, which meant that it was overly dependent on outside factors such as regulatory changes or new market entrants.

Ultimately, Aurora’s failure to anticipate and prepare for these risks cost them dearly. In hindsight, it is clear that Aurora should have been more selective about its M&A strategy.

To counter the situation, Aurora is slashing costs by reducing its facilities. However, it is becoming tough to stem the fall in cash flow, and the company is trying to make amends by issuing stock. That is also a recipe for disaster since share price dilution has become a headache.

In fiscal 2019, Aurora reported revenue of $187.5 million, but last year, the figure was down to $171.9 million. Meanwhile, the total number of outstanding shares rose from 85.7 million to 300.4 million, as per the latest report. It comes as no surprise, therefore, that the company often finds itself among stocks to sell.


The Sundial Growers logo is on a phone screen with a light blue background in front of the sundial logo on a white background. SNDL stock
Source: Shutterstock

SNDL (NASDAQ:SNDL), formerly known as Sundial Growers, became a meme stock favorite when the Reddit phenomenon was in full swing. However, the company has quieted down and has had to face some sobering internal questions.

SNDL has a long history in the cannabis industry as a wholesaler. However, this was not a very successful strategy, and SNDL struggled as a result.

Now SNDL has decided to shift dramatically in its business model, entering into the retail space instead. In March, the company completed the acquisition of one of the largest private liquor companies in North America, Alcanna, which helped it make CAD 223.7 million in the second quarter versus CAD 9.2 million in the year-ago quarter.

Hence, this new strategy holds great promise for SNDL. By bringing its products directly to consumers, SNDL can better connect with its target audience and build a strong brand presence. However, this transition has come at a cost for SNDL. As it moves towards the retail space, SNDL finds that margins are under the pump.

Similar to Aurora Cannabis, the company has used its stock as collateral. At first, the cannabis company was focused on reducing debt, but now it is looking to increase its cash holdings.

However, there is no clear guideline for what the company has planned next. One thing is for sure, though, the company has seen better days, and its transformation will be tough.

On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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