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It’s a complicated time for the U.S. economy. For retail companies that peddle non-essential and luxury goods, that’s not good news. This trend has been slowly building for months. In February 2024, consulting giant McKinsey & Company published a report on the state of consumer spending in the U.S., which revealed that many Americans were still exercising caution with their purchases. Now, months later, these trends have accelerated, as evidenced by steep declines in spending at companies such as Starbucks (NASDAQ:SBUX) and McDonalds (NYSE:MCD). But even as the economic outlook for many remains questionable, these aren’t necessarily the most important stocks to sell.
Discretionary spending has impacted more sectors than food service and retail. Roblox’s (NASDAQ:RBLX) first-quarter earnings report shows that the video game…
