With the overall markets continuing to slide, investors are looking for opportunities. Ritholtz Wealth Management's Josh Brown sees upside potential in Matterport Inc MTTR and Dutch Bros Inc BROS amid the market pullback.
He initially bought Matterport shares around $14. After seeing the stock surge over $30 at the end of 2021, "I never thought I'd have this opportunity," Brown said Tuesday on CNBC's "Fast Money Halftime Report."
He seemed puzzled by the extent of the selling in the spatial data company's stock over the last few months.
"I can only conclude that some of it is forced selling from momentum players or high-growth tech funds that are being redeemed," Brown said.
See Also: Peering Into Matterport Inc. - Class A Common Stock's Recent Short Interest
Dutch Bros is a completely different story. It's one of the strongest stocks in the market right now, he said, adding that it was one of the first stocks to turn green during Monday's market reversal.
"I like seeing strength in a really ugly tape, so I couldn't help myself," Brown said.
The Ritholtz Wealth Management CEO also told CNBC that recent data shows coffee sales outpaced all other restaurant sales in December.
He noted that the company has a relatively small market cap, so he expects volatility in the stock, but he is anticipating "really good" financial results in the upcoming quarter.
Dutch Bros has a market cap of $2.27 billion, according to data from Benzinga Pro.
MTTR, BROS Price Action: At publication time, Matterport was up 0.55% at $10.49 and Dutch Bros was up 7.36% at $48.86.
Photo: courtesy of Dutch Bros.
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