3 Nasdaq Stocks That Could Be Heading Six-Feet Under

Core Viewpoint - Concerns about a global recession suggest that divesting from certain Nasdaq stocks may be prudent, as some companies are both high-risk and overvalued [1][2] Group 1: Canopy Growth (CGC) - Canopy Growth has been experiencing significant losses, with a stock price that has dramatically declined over the years [3] - The company recorded nearly $1 billion in losses over the last 12 months and has $140 million in cash, alongside $446 million in debt [3][4] - Shareholder dilution has been substantial, with shares outstanding increasing by 70.58% year-over-year, raising financial risk for shareholders [4] Group 2: Beyond Meat (BYND) - Beyond Meat's stock price has plummeted due to mounting losses and declining sales, with a "Sell" consensus rating from analysts [5][6] - The full-year revenue forecast is between $315 million and $345 million, which is below the consensus of $343.8 million, and the company has a negative gross margin of 24.1% in 2023 [5] - Significant budget cuts of $70 million are planned for 2024, but the company has less than two years' worth of cash based on its current cash burn and over $1 billion in debt [5][6] Group 3: QuantumScape (QS) - QuantumScape is developing solid-state batteries but faces skepticism regarding its technology's viability and timeline, with no revenue or earnings reported [7][8] - The company has around three years of cash on its balance sheet before needing to raise capital again, relying on optimistic projections from Wall Street [7] - For 2024, QS plans to begin low-volume production of its QSE-5 prototype batteries, with projected capital expenditures between $70 million and $120 million and an adjusted EBITDA loss of $250 million to $300 million [8]