- These are the stocks that traded furthest from their 200-day average price and that CNBC says are poised for a rebound.
- Interestingly, the most oversold company is Netflix, which has had an extremely difficult year.
- Within the list there are two cruise companies and PayPal is also found.
In this bear market, there were several days of massive selling. Against this backdrop, CNBC found the 10 Most Oversold Stocks in the S&P 500 Ready to Bounce.
These stocks trade close to their average price of the last 200 days and, in addition, they are companies with a beta greater than 1, which means that they move in increments greater than the market itself on a daily basis.
As seen on the list, Netflix is the most oversold with its shares trading at 61% of its 200-day average. Analysts believe the company is poised for a rebound despite its negative fundamentals, such as slowing subscriber growth and increased competition.
In the list, we can also see the actions of cruise ships such as Royal Caribbean and Carnival, which suffered a severe blow during the coronavirus pandemic. In addition, they now face inflation that affects their profit margins and, of course, their customers.