Home Stock Josh Brown bought these two hard-hit stocks on Thursday

Josh Brown bought these two hard-hit stocks on Thursday


Putting money to use even at times of high uncertainty is the mark of a professional investor, says Josh Brown, who bought two stocks on Thursday amidst volatility related to Russia’s full-scale invasion of Ukraine.

Brown’s long-term investment

His first pick was Restoration Hardware Holdings Inc (NYSE: RH), shares of which have cut in half since early August 2021. On CNBC’s “Halftime Report”, Brown said he planned on holding RH for the long term.

Whether rates are at 0% or 1%, I don’t think that’ll materially change the demand for housing, décor, and renovation. RH is the highest quality company in that space; one of the best ways to play the idea that another 5 million millennial households will form in the next couple of years.

Other reasons that he’s bullish on the stock include great margins and commitment to eCommerce. The membership programme keeps customers loyal to RH, adding further to the quality of its business model, he concluded.  

Brown’s short-term trade

Another brutally punished stock that the CEO of Ritholtz Wealth Management bought on Thursday is Meta Platforms Inc (NASDAQ: FB), that’s seen historically the worst loss of market cap in recent weeks. Brown said:

I don’t know if FB is a long-term investment. It’s probably a trade. But this is among those large-cap technology stocks that have already been cut in half and are now bouncing today for no other reason than maybe because there’s nobody left to sell. So, we’ll see what happens here.

Earlier this month, Summit Global’s David Harden also reiterated that Meta had high-profit margins and above-average growth, which made the stock at its current discounted valuation a fantastic buying opportunity.

The post Josh Brown bought these two hard-hit stocks on Thursday appeared first on Invezz.

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