Published on 6 Jul 2023 on Insider Monkey via Yahoo Finance
12 Best Nano Cap Stocks To Buy Now
In this piece, we will take a look at the 12 best nano cap stocks to buy now. If you want to skip our analysis of the current market environment, some nano cap companies doing good work, and want to jump ahead to the top five stocks in this piece, then take a look at 5 Best Nano Cap Stocks To Buy Now.
Even as 2023's first half is over, the uncertainty in the stock market is not. 2023 has been a 'fresh' year when it comes to market performance and it marks another period of topsy turvy performance. The current series of shocks started as the coronavirus pandemic forced global lockdowns and devastated economic activity. Then, the market soared as technology companies saw significant tailwinds from the growth in demand which translated into share price growth. 2022 entered with a potential breather as the severest effects of the pandemic were starting to dissipate, with investors hoping for some respite. However, stimulus induced inflation and the aftermath of the Russian invasion of Ukraine effectively divided the market into two areas - with technology stocks nosediving and energy stocks soaring.
2023 was marked by calls for a slowdown in economic activity and a recession. The reasoning behind this opinion was that the Federal Reserve had increased rates too much to battle inflation, and their effects in the former of tighter credit conditions for both households and businesses would reduce spending in the economy - leading to a slowdown. However, the economy continues to be a tricky player, with the latest data from the Department of Commerce's Bureau of Economic Analysis (BEA) surprising observers. This data shows that the American economy grew by 2% during the first quarter of this year. The BEA releases multiple estimates for GDP growth or contraction for the same quarter with each reflecting improved data collection and measurement. Its previous reading had pegged quarter over quarter GDP growth at 1.3%, leading to a significant increase in the third estimate.