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Could these stocks beat the bearish chart pattern forming in S&P 500

Market participants are now confronted with an environment of slowing growth, rising probability of recession, elevated inflation and central banks that are determined to hike interest rates, and stay the course

Federal Reserve Chair Jerome Powell’s speech on Friday essentially confirmed Fed rate hikes will continue and remain high until inflation is close to its target. Buybacks and dividends have been one of the few bright spots for investors this year.  You could see that clearly Monday.  The S&P 500 was only down a few points until the last ten minutes, when the S&P dropped 20 points.

With an overall bearish sentiment on Wall Street investors should consider diversifying portfolios broadly to include alternative investments and private markets in an attempt to hold positions that match long-term investment financial objectives. It is very easy to throw in the towel when markets are turbulent. But throwing the towel would most likely also mean missing the recovery that will undoubtedly follow a correction.

Let’s dive into some of the stocks that are still managing to remain bullish in downturn. Newage Inc (NASDSQ:NBEV) share are up over 70% on Tuesday morning. More than 153M shares have exchanges hands at the time of writing this news article. Earlier on August 12, 2022 it received an additional delinquency notice from the Nasdaq Stock Market, dated August 11 notifying the Company that it is not in compliance with Nasdaq Listing Rule 5250(c)(1). The Company failed to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 with the Securities and Exchange Commission. The Rule requires listed companies to timely file all periodic financial reports with the SEC.

Blue Apron Holdings, Inc. (NYSE:APRN) is up close to 20% on Tuesday morning. More than 21M shares have traded compared to an average daily volume of 4.209M shares. The surge in the prices stems from a recent interview by the company’s CEO Linda Findley stating “Meal kits have evolved quite a bit” that has caught Wall Street’s attention (1).

Flora Growth Corp. (NASDAQ:FLGC) could be another stock that ready for a bounce back. Flora Growth Corp. (NASDAQ:FLGC) reported results and provided a business update last week. Flora's total 1H22 revenue came in at $14.9 million, which represents a greater than 7-fold advance compared to the same period of 2021 and a more than doubling compared to the prior half year period. Flora reiterated 2022 guidance of $35 million to $45 million, which management believes is supported by many factors, including the recent acquisition.

In addition, FLGC has strengthened its European presence with a new office in London and also received approval to sell products on Amazon UK. Cross-promoting its growing product portfolio to enhance and accelerate growth is a priority. The company also expects the launch of sales in the Commercial Wholesale and Life Sciences business to contribute to revenue growth in 2H22 and beyond. Flora is optimistic about the Life Sciences division, following the recent acquisition of Masaya and approval of clinical trials in the U.K (2)

Other notable stocks to look out for include Mobile Global Esports Inc. (NASDAQ:MGAM), IN8bio, Inc. (NASDAQ:INAB), Baudax Bio, Inc. (NASDAQ:BXRX), Altria Group, Inc. (NYSE:MO), Jazz Pharmaceuticals plc (NASDAQ:JAZZ), Sundial Growers Inc. (NASDAQ:SNDL), Cara Therapeutics, Inc. (NASDAQ:CARA) and Cronos Group Inc. (NASDAQ:CRON)



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