The stock market has had a roaring first half of 2024, but not all companies have seen shares respond in the same way. As always, it's important to look beyond share prices and see how the business of any stock you want to invest in is holding up. Sometimes, a beaten-down stock is a fantastic opportunity to become part owner of a business on the dip.
Here are two such companies to keep in mind if you have cash on hand to invest that you don't need for bills or other near-term financial obligations, provided you have a buy-and-hold period of at least three to five years. Let's take a closer look. 1.
Pfizer Pfizer ( PFE ) is trading down by roughly 30% over the past year. The primary culprit here has been a steep deceleration in growth, sales, and profits following the heightened run up it experienced with the success of its COVID-19 vaccine and oral antiviral drug. All businesses go through cycles, and this is no less true of companies in the pharmaceutical industry.
Even a healthcare giant like Pfizer is not impervious to the changing tides. That said, a COVID-19 sales cliff was inevitable. Pfizer has ensured that the billions in revenue, profits, and cash that its COVID-19 products brought in were put to excellent use.
The company executed a flurry of acquisitive maneuvers. One notable mention was cancer biotech company Seagen, which specializes in developing antibody-drug conjugates -- special proteins made in a lab that seek to find and destroy cancer. The Seagen acquisiti.
