In 2022, I bought a lot of stocks. 2022 was a down year for the market, so I was able to find some pretty great deals on stocks. This year, however, has been an up year for the market. This means that a lot of the stocks that I own are valued a lot higher now than when I bought them. The question I want to ask now though is, are these stocks still a buy?
Meta
Meta has been an amazing investment for me so far. Last year, the stock went down to $200 a share, and I bought the stock. It then fell further to around $90 a share, and I bought as much of the stock as I possibly could. At time of writing, Meta is now trading at around $353 a share. This makes Meta my best investment of the year. Meta now has a market cap of around $900 billion which means that Meta is trading at 31.19 times their earnings. While I do think that that is pretty high, I do think Meta has a lot of growth opportunity. I don’t think I’ll make even close to the amount of money I made on Meta this year next year, but I don’t currently feel the need to sell this stock.
SoFi
I write about SoFi a lot. It is actually the biggest position in my portfolio that is not an ETF. SoFi has had a phenomenal year this year. I bought majority of my SoFi position at around $5 a share. Now, SoFi is trading at $9.67 a share. At these prices, I have not been buying as much of this stock lately just because I do think that this price is a little high. That said, I am not selling my position even a little. I am a little nervous about this stock for 2024 as I believe there could be risk with their loans, but overall, I think SoFi will do well next year.
Blackrock
Blackrock is the largest asset manager in the world. I bought this stock because I viewed it as a nice dividend play with solid growth as well. Blackrock hasn’t done as well for me as the other two stocks mentioned, but Blackrock is up a little over 9% year-to-date. Not incredible returns compared to many stocks this year, but a return nonetheless. I think Blackrock is slightly overvalued at the moment, and I probably won’t buy more at these current prices. I do still view this as a good stock for people who want a low risk investment that pays a dividend.
These three stocks were my favorite stocks going into 2023. Let’s hope 2024 is just as bullish.
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