Wynn Resorts, Ulta Beauty Are Among The Overbought Consumer Discretionary Stocks: Are They Worth A Look?

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The most overbought stocks in the consumer discretionary sector present an opportunity to go short on these overvalued companies. Here’s the latest list of major overbought players in this sector.

Dada Nexus Ltd - ADR DADA

  • Last month, Dada Nexus posted third-quarter sales of RMB2,310.1 million, up 41.1% year-over-year. The company’s stock has a 52-week high of $17.26.
  • DADA Price Action: Shares of Dada Nexus were down 5.38% at $7.06 Friday at publication.

Wynn Resorts, Limited WYNN

  • In November, Wynn Resorts posted a wider-than-expected third-quarter loss. JP Morgan recently upgraded Wynn Resorts from Neutral to Overweight and raised the price target from $71 to $91. The company’s stock has a 52-week high of $96.50.
  • WYNN Price Action: Shares of Wynn Resorts were down 0.69% at $85.83 Friday at publication.

Ulta Beauty, Inc. ULTA

  • Ulta Beauty recently reported better-than-expected third-quarter results and raised full-year 2022 guidance. Barclays and Morgan Stanley also raised their price targets on the stock this week. The company has a 52-week high of $482.69.
  • ULTA Price Action: Shares of Ulta Beauty were down 1.41% at $474.86 Friday at publication.
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Pinduoduo Inc - ADR PDD

  • Pinduoduo recently reported third-quarter full-year 2022 revenue growth of 65% year-on-year to $4.99 billion, beating the consensus of $4.31 billion. The company’s 52-week high is $92.03.
  • PDD Price Action: Shares of Pinduoduo were down 1.37% at $89.86

Burlington Stores Inc. BURL

  • Burlington Stores recently reported a third-quarter full-year 2022 sales decline of 11% year-on-year to $2.04 billion, missing the consensus of $2.06 billion. Jeffrey Laub, senior vice president at Burlington Stores, also reported a large insider sell on Nov. 30, according to a new SEC filing. The company has a 52-week high of $295.30.
  • BURL Price Action: Shares of Burlington Stores Group were down 1.17% at $196.60.

Photo: Shutterstock

 

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Posted In: NewsShort IdeasSmall CapMarketsTrading Ideasconsumer discretionaryOverbought stocks

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