A Full List of Tom Lee's Washed-Out Stocks

Fundstrat Head of Research Tom Lee has mentioned washed-out stocks many a times this year, after the painful drawdown of 2025 created fresh attractive investment opportunities.

A washed-out or sold-out stock is a stock that has gone beyond oversold, to the point where there seems to be “no more stock left to sell.”

Lee explicitly views washed-out stocks as different from being merely oversold. The term oversold is typically used in reference to a stock that has fallen sharply due to short-term negative sentiment, often interpreted by investors as a contrarian signal.

Large-cap names:

These are based on the following four criteria.

  1. Current market cap greater than $15 billion.
  2. Down more than 30% at least a week before Feb. 18.
  3. Didn’t make new 52-week low between April 1-April 8.
  4. Current price down more than 25% from 52-week high.

Here’s the full list.

  1. Warner Bros Discovery (WBD 4.18% )
  2. Lululemon Athletica (LULU -0.12% )
  3. Tesla (TSLA -2.07% )
  4. DraftKings (DKNG 1.91% )
  5. Dollar General (DG 0.17% )
  6. Dollar Tree (DLTR -2.03% )
  7. Brown-Forman (BF/B)
  8. Constellation Brands (STZ -0.33% )
  9. Rocket (RKT 1.97% )
  10. Coinbase (COIN -1.10% )
  11. Robinhood (HOOD -1.70% )
  12. Humana (HUM N/A% )
  13. United Airlines (UAL 2.19% )
  14. Leidos Holdings (LDOS 0.17% )
  15. Atlassian (TEAM 1.87% )
  16. Hubspot (HUBS -0.21% )
  17. Microstrategy (MSTR 4.90% )
  18. Salesforce (CRM -2.23% )
  19. Cloudflare (NET -2.82% )
  20. Super Micro Computer (SMCI 1.94% )
  21. Edison International (EIX 1.14% )
  22. Vistra (VST -0.50% )

Small-and mid-cap names:

These are based on the following five criteria.

  1. Current market cap less than $15 billion.
  2. Down more than 30% at least a week before Feb. 18.
  3. Didn’t make new closing low between April 1-April 8.
  4. Current price down more than 25% from 52-week high.
  5. Short-interest Day-to-Cover Ratio less than 2.

Here’s the full list:

  1. Trump Media & Technology (DJT -0.74% )
  2. Roku (ROKU -1.67% )
  3. Amer Sports (AS 8.78% )
  4. Lucid (LCID 0.09% )
  5. Rivian Automotive (RIVN 0.87% )
  6. Lkq (LKQ 0.27% )
  7. Crocs (CROX 0.54% )
  8. Norwegian Cruise Line (NCLH 1.77% )
  9. Walgreens Boots Alliance (WBA)
  10. Celsius (CELH 1.20% )
  11. Sofi Technologies (SOFI -3.48% )
  12. Marketaxess (MKTX -0.29% )
  13. Columbia Banking System (COLB 0.19% )
  14. Grail (GRAL -4.10% )
  15. Inspire Medical Systems (INSP -1.53% )
  16. Perrigo (PRGO -1.25% )
  17. Concentrix (CNXC -2.99% )
  18. Dayforce (DAY 0.22% )
  19. Southwest Airlines (LUV 0.35% )
  20. Lyft (LYFT 0.56% )
  21. Confluent (CFLT N/A% )
  22. Dynatrace (DT 2.68% )
  23. Elastic (ESTC 1.28% )
  24. Procore Technologies (PCOR 0.63% )
  25. Lumentum (LITE 2.88% )
  26. Astera Labs (ALAB -0.63% )
  27. Aes (AES -1.44% )

You can learn more about who inspired this list on our FSI Academy page here.

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