1. Amazon.com, Inc. (AMZN)
Topping our list is Amazon.com, Inc., a multinational technology company based in Seattle. Despite a costly global expansion plan and increased competition in the e-commerce sector, Amazon shares have shown steady, albeit slow, growth over the past month. The steady increase, however, was interrupted by a short bearish downturn in late August, which could present a buying opportunity for those who believe in Amazon’s potential for long-term growth.
2. Advance Auto Parts Inc. (AAP)
Next up is Advance Auto Parts Inc. The company’s stock took a considerable hit in the first half of August due to underwhelming second-quarter earnings. However, despite the bearish trend, the company’s solid fundamentals, a robust growth strategy, and potential for bouncing back indicate that it might be an attractive dip-buy for investors.
3. Starbucks Corporation (SBUX)
Continuing down the list, Starbucks Corporation is another potential bearish turnaround play to watch. Despite the ongoing challenges posed by the COVID-19 pandemic on the service industry, Starbucks has managed to stay resilient. A late-August dip might provide an excellent entry point for long-term investors banking on Starbucks’ impressive global brand appeal and strategy.
4. Shopify Inc. (SHOP)
The popular e-commerce platform Shopify also experienced a bearish trend in late August after a highly bullish rally. Despite a slew of positive news, the dip might be attributed to investor fears over Shopify’s valuation. However, Shopify’s strong fundamentals and growth potential make it a contender for a bullish turnaround.
5. Eldorado Gold Corporation (EGO)
Eldorado Gold Corporation, a Canadian mining firm, presents a unique turnaround opportunity. With gold prices expected to see a resurgence following a period of bearish trends, Eldorado Gold Corporation stands out as a possible beneficiary of such a shift.
6. General Motors Company (GM)
Amid a industry-wide chip shortage and decreased vehicle production, shares for General Motors Company slipped in late August. However, with the company’s aggressive push towards electric vehicle production and its stake in autonomous vehicle technology, this automaking giant’s temporary bearish trend could potentially turn around.
7. Macy’s Inc. (M)
The retail giant Macy’s Inc. has faced a tumultuous year. The company has seen several bearish periods in August, mostly due to the uncertainty surrounding the future of retail shopping. However, a strong balance sheet, a growing e-commerce segment, and brand recognition indicate potential for a robust turnaround in the coming months.
8. Cisco Systems, Inc. (CSCO)
Cisco Systems, a leader in networking technology, saw a short bearish period in late August following the announcement of its Q4 earnings. Despite the downturn, Cisco’s industry position, diversified product portfolio, and increasing emphasis on software and subscription services make it a potential bearish turnaround play.
9. Boeing Co. (BA)
Despite major setbacks from ongoing safety concerns and the overall impact of the pandemic on the airline industry, Boeing’s shares demonstrated resilience with signs of potential recovery. Following a bearish trend in August, investors could be poised for a profitable return if global travel begins to normalize.
10. UnitedHealth Group Incorporated (UNH)
Last on our list, but certainly not least, is UnitedHealth Group. Despite solid fundamentals, ongoing market volatility left the stock in a downward trajectory for most of August. As the largest healthcare company worldwide, it stands as a strong contender for a bullish turnaround, thanks to its diverse business model and continued relevance during uncertain times.
While all of these stocks experienced bearish movements in August, the potential for a bullish turnaround remains. Careful analysis of market trends, company financials, and global economic indicators are pivotal in determining if these stocks could make a profitable addition to one’s portfolio. As always, it is critical for individual investors to conduct their research and seek professional advice before making investment decisions.
