Buy, hold, sell: Six beaten-down stocks ready for a rebound

Hello, and welcome to Livewire’s Buy Hold Sell. I’m Ally Selby. They say you should buy when there’s blood in the streets and there’s certainly a lot of that going on at the moment. So today we thought we’d take a look at some of the ASX’s most beaten-down stocks to see which ones, if any, could be poised for a turnaround in 2022. Today, we are joined by Simon Conn from IML and Bruce Williams from Elston.

First up, we have accounting software provider, Xero, which has seen its share price fall around 21 per cent since the beginning of the year. Simon, I might start with you. Is it a buy, hold, or sell?We think Xero is a sell, just on valuation grounds. It’s trading 134 times PE. It’s very, very fully priced and we think it’s a stock that, if you see the price appreciation in its share price, has been fuelled by low-interest rates and people paying a lot for earnings way out in the future.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASX to fall as Ukraine adds to market volatilityAustralian shares are set to drop as the escalating situation in Eastern Europe spooks investors and sets the scene for another erratic week.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX to fall as Ukraine adds to market volatilityAustralian shares are set to drop as the escalating situation in Eastern Europe spooks investors and sets the scene for another erratic week. The only thing escalating is the media’s fear mongering. And Biden’s fear mongering isn’t too far behind you all.
Source: FinancialReview - 🏆 2. / 90 Read more »