Things look ugly right now, but these companies could quickly rally once the bear goes back to sleep.
Many electric vehicle makers went public over the past two years. Rising interest rates exacerbated that sell-off by crushing speculative, unprofitable, and overvalued stocks. Two of those stocks are Rivian (NASDAQ: RIVN), which went public through a traditional IPO last November, and Polestar (NASDAQ: PSNY), which went public by merging with a SPAC this June.
Amazon (NASDAQ: AMZN) and Costco Wholesale (NASDAQ: COST) are different companies but share one thing in common: Each has a large base of loyal customers who depend on these companies for essential items every day. Amazon has over 200 million Prime members, but Costco also continued to grow its member count during the pandemic. Year to date, Amazon shares are down 33%, while the S&P 500 index has dropped 24%.