Stocks to sell

In the stormy seas of the stock market, tech stocks have had quite the journey. Amidst the global pandemic, with the world cocooned at home, tech stocks are surging to multi-year highs. However, the narrative has taken a twist, and now, several tech stocks to sell are in the spotlight.

U.S. tech stocks danced on the tightrope of volatility and underperformance in 2022. While a noticeable bounce back featured in 2023, it’s crucial to remember that not all tech stocks share equal fortunes.

A few high-risk tech stocks have reared their heads, demanding caution from investors.

Hence, in the realm of tech stocks to sell now, there are contenders that investors might want to sidestep without a second thought. As always, it’s imperative to tread wisely and stay alert.

SNAP Snap $10.25
COIN Coinbase $52.44
BB BlackBerry $5.20

Snap (SNAP)

Source: Christopher Penler /

Snap (NYSE:SNAP) the parent company of Snapchat, is traversing an uphill battle.

The popular social media platform is up against some major headwinds, including mounting competitive pressures, advertising disruptions, and a struggling economy.

The repercussions have been palpable, with SNAP stock enduring the stock market rout last year while struggling to get going since then.

Its lackluster first-quarter results are a testament to its challenging environment. Despite narrowing its net loss to $328.7 million and reporting a slight uptick in daily active users and engagement, the firm saw a considerable 7% slump in sales to $988.7 million.

The advertising market slowdown, compounded by Snap’s bleak forecast for its second-quarter sales, points to more downside ahead.

Its competition continues to wrestle back market share from its business. Behemoths such as TikTok and Facebook continue to attract a significantly larger active and engaged daily user base.

Due to the size of its platform and limited data harvesting capabilities, Snap’s susceptibility to Apple’s privacy changes presents another hurdle. While Snap’s management proactively invests in AI to drive further growth, these efforts will take time to bear fruit. That makes this among the prime tech stocks to sell.

Coinbase (COIN)

Source: Sergei Elagin /

In the realm of high-risk stocks, Coinbase (NASDAQ:COIN) is continuing to perch precariously. Its stalling performance and stagnant value paint a gloomy picture.

Its sales have deflated alarmingly, plummeting by nearly 37% from $1.16 billion in the first quarter of 2022.

The year 2023 heralded a comeback for cryptocurrencies, with investors flocking to stalwarts such as Bitcoin, seeking shelter from the slowing interest rate hikes and seeking a hedge against the current financial turmoil.

However, Coinbase seems to be on the sidelines of this resurgence. Rather than reaping the benefits of increased capital inflows into the sector, it’s grappling with the potential threat of an SEC enforcement action.

Key components of its operation, including core trading functions, interest-bearing service, institutional trading solutions, and others, are under the scanner.

BlackBerry (BB)

Source: Shutterstock

BlackBerry (NYSE:BB) was once a titan in the mobile phone industry and, to the surprise of most investors, is still in the game after exiting its smartphone business in 2016. Since then, it’s been looking to carve out a niche in building secure operating systems for cutting-edge tech platforms such as smart cars but hasn’t quite hit the mark. The grim reality is reflected in its financials, with revenues tumbling from $1 billion in fiscal 2020 to a mere $656 million in fiscal 2023.

Nevertheless, its management is upbeat about its prospects, projecting a 13.5% compounded annual growth over the next three years, riding on its IoT and automotive businesses. However, investors have waited for a BlackBerry comeback for over a decade. Given its murky track record, the chances of a successful revival seem slim.

Its stock has been buzzing of late due to its 2019 acquisition of Cylance, a cybersecurity firm that integrates AI in its detection process. The popularity of all-thing AI led to the stock’s rally, but traders must approach this rally cautiously and consider selling.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

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