2 Stocks Down About 70% to Buy Now and Hold for the Next Decade
Two beaten-down consumer goods stocks, one 155-year-old whiskey maker and one protein snack company, are building their next decade while the market prices them for their worst year.
Two consumer goods companies are currently down about 65% to 70% from their 2020 peaks, presenting potential buying opportunities for patient investors. Brown-Forman, a 155-year-old whiskey maker, has seen its share price slump despite flat sales of its core Jack Daniel's Tennessee Whiskey brand. The company has been proactively addressing the decline by expanding its ready-to-drink portfolio and maintaining a strong balance sheet, consistently paying dividends and raising them for 42 years.
Simply Good Foods, owner of Quest protein snacks and Atkins, has dropped 70% from its high, but its growth in the protein category, particularly its Quest brand, and the company's disciplined financial management make it a riskier yet potentially rewarding long-term bet. Both companies are investing in their future despite the short-term market pressure, making them intriguing prospects for long-term investors willing to ride out the volatility.
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