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2 “Strong Buy” Stocks Positioned for Growth in 2022
Wall Street traders aren’t short on cliches, and here’s one for the New Year: ‘As January goes, so goes the year.’
CFRA Research’s chief financial analyst, Sam Stovall, has taken note of this anomaly, writing: “If the market does well in January, it normally goes well for the whole year.” But if we discover that a lot of money has come into the markets straight away, it’s a sign that it’s going to be a very strong year.”
In terms of emotion, the S&P 500 finished at a record high on the first trading day of 2022, after finishing 2021 with significant increases for the third year in a row.
With this in mind, let’s take a look at two stocks that are sending out optimistic signs and are poised for gains this year. According to TipRanks statistics, these are Strong Buys with a year-to-date upside potential of almost 70%. Let’s get started.
Nurix Therapeutics (NRIX)
We’ll start with Nurix Therapeutics. This is a clinical-stage biopharmaceutical firm developing small molecule therapeutic candidates that interact with the body’s natural protein breakdown pathways. Nurix’s study is centered on ubiquitin E3 ligases, which are important enzymes in the protein breakdown process. This is a novel treatment strategy that may be used to a wide range of illness situations.
