Farmmi Inc – A Diamond in the Rough?
The consumer staples sector is ablaze with opportunities, notably in the oversold stocks arena. Investors, keen on seeking undervalued gems, have their eyes trained on the Relative Strength Index (RSI). This nifty little indicator, juxtaposing a stock’s strength on up days against those on down ones, can be a crystal ball reflecting short-term performance.
Unpacking Farmmi Inc:
- On August 23, amidst market turmoil, Farmmi Inc dropped an announcement of a $1 million registered direct offering of over 3 million shares. The stock plummeted approximately 61% in the last month, plunging to a 52-week low of $0.17.
- RSI Value: 29.98
- Farmmi’s Recent Performance: Closing at $0.22 on Tuesday, the company’s shares saw a 5.1% decline.
elf Beauty Inc – A Hidden Gem?
In the realm of undervalued stocks lies e.l.f. Beauty Inc, beckoning investors with its RSI value of 28.33, indicating oversold territory. Piper Sandler analyst Korinne Wolfmeyer, despite the tumult, remains an e.l.f. Beauty believer, maintaining an “Overweight” stance.
Breaking Down elf Beauty Inc:
- On September 16, Wolfmeyer stood her ground, lowering the price target from $260 to $162. The past month saw the stock slide by 30%, hitting a 52-week low of $88.47.
- RSI Value: 28.33
- elf Beauty’s Recent Performance: Despite the headwinds, the stock closed at $112.43 on Tuesday, witnessing a 0.7% dip.