15 Best Beaten Down Stocks to Invest In

8) Beyond, Inc. (NYSE:BYON)

% Decline on a YTD Basis: ~78.7%

Number of Hedge Fund Holders: 16

Beyond, Inc. (NYSE:BYON) operates as an online retailer of furniture and home furnishings products in the US and Canada.

Beyond, Inc. (NYSE:BYON)’s stock has seen a significant decline in the recent past due to changing market dynamics and increased competition from large online retailers such as Amazon and Wayfair.  The company does not operate physical stores, which limits consumer convenience and can impact its ability to capture market share.

However, Beyond, Inc. (NYSE:BYON), the rebranded Overstock.com, has been significantly transformed post the acquisition of Bed, Bath, and Beyond’s intellectual property and digital assets. This strategic move has expanded the company’s brand portfolio and should result in increased market presence and brand recognition, together with access to a broader customer base.

Beyond, Inc. (NYSE:BYON)’s management remains optimistic, expecting a turnaround to historical profit margins in 2-3 quarters. Moreover, Wall Street analysts believe that its efforts to actively monetize assets should help it bridge any potential cash gaps. For example, Beyond, Inc. (NYSE:BYON) recently sold its former headquarters, and proceeds are expected in the next quarter. Also, the company holds investments in blockchain companies via Medici Ventures.

As per Wall Street analysts, the shares of Beyond, Inc. (NYSE:BYON) have an average price target of  $9.08.