Despite concerns about the recent banking crisis, the Federal Reserve increased the benchmark federal funds rate by 0.25% and acknowledged the potential for the banking crisis to harm the weak economy. Moreover, the chances of a recession this year remain high.
Therefore, I think Snap Inc. (SNAP) and Peloton Interactive, Inc. (PTON) might be best sold short, liquidated, or avoided completely in 2023, considering their weak fundamentals.
