Is the stock market in store for another bull market? Absolutely, without a doubt yes. Will it take place in 2023? That remained to be seen. But there’s no doubt that, sooner or later, the stock will once again begin a sustained period of positive momentum.
A new bull market he Coming, though, at some point. Here are three stocks that could skyrocket whenever that happens.
Biotech stocks as a group have been in a bear market for two years. The negative environment certainly affected Radiation therapy (packages 5.02%). shares gene editing stock have fallen by more than 40% over the past 12 months.
We can’t entirely blame Beam’s poor stock performance on external factors. The company has faced some challenges of its own, including having the US Food and Drug Administration (FDA) place a clinical hold on developing the experimental cancer treatment BEAM-201 in human clinical tests.
However, the FDA’s suspension has since been lifted. BIM is now moving forward with clinical studies. It evaluates BEAM-101 in the treatment of sickle cell disease and BEAM-201 in the treatment of acute T-cell lymphoblastic leukemia and T-cell lymphoma. In addition, the company expects to file for regulatory approvals to develop two more experimental therapies in clinical tests by early 2024.
Beam base editing technology has the potential to be a medical game changer by precisely editing DNA base pairs. Once a new bull market kicks in, expect this stock to take off as investors anticipate positive results in early-stage results from Beam’s underlying liberalization treatments.
2. The free market
Free market (Millie 2.36%) The stock has rebounded strongly from the sell-off in the first half of 2022. However, the fintech stock is still down nearly 17% below its previous high.
There’s nothing to complain about with MercadoLibre’s core business. The company’s net revenue increased 60.6% year over year in the third quarter of 2022 to $2.7 billion. Earnings jumped 35.8% to $129 million. MercadoLibre has seen significant improvement in nearly every major metric, from active users to total payment volume.
The company’s outlook looks better in 2023. MercadoLibre’s largest competitor is in Brazil practically collapses. Americanas SA is embroiled in an accounting scandal that has its CEO and Chief Financial Officer being shown to the door.
More importantly, the e-commerce and digital payments markets in Latin America still have huge growth potential. MercadoLibre should continue to lead in both arenas for years to come.
3. Soundhound AI
Don’t think about it for a moment Large inventory of artificial intelligence (AI) Limited to the huge tech giants. Little Soundhound AI (maintain 13.60%) Its market capitalization is only around $250 million but it could be a big winner in the future with its AI voice technology.
Sure, the stock has been crushed, crashing over 90% over the past 12 months. However, this disappointing decline does not reflect the Soundhound’s prospects.
Soundhound’s client base is a list of successful international companies, incl HyundaiAnd QualcommAnd Netflix. The total booking backlog is over $300 million. The company expects revenue to grow by more than 50% this year. And you expect it to be profitable.
In the long run, Soundhound AI’s chances look exceptionally good. AI will almost certainly be increasingly adopted in customer service jobs and in the daily lives of consumers. Soundhound should benefit greatly from this trend.
A word of caution
I fully expect these three stocks to post impressive gains in the next bull market. However, I also think there’s a good chance that they could underperform the market if there’s a significant economic downturn. This is particularly the case with the stocks on the list that aren’t currently profitable — Beam and Soundhound AI. MercadoLibre is the least risky of the group, but that doesn’t mean it doesn’t face any risks.
Aggressive investors may want to examine any or all of these three stocks. Despite this, risk-averse investors would be better off staying on the sidelines at least for the time being.