Bristol-Myers Squibb (BMY) is the poster child for a stock to own during a bear market. First, because it’s in the defensive healthcare industry which doesn’t buckle when the economy is under pressure. Second, the north of 3% dividend yield is a welcome sight when you bank account pays nothing on cash.
Add it all up and you understand why shares were in positive territory in 2022 when most other stocks were painted red. Gladly with the market outlook still dark because of looming recession, BMY continues to be a terrific choice for the year ahead.
