Two unlucky stocks over the past month could be due for a rebound, traders say

It's Friday the 13th, and CNBC's "Trading Nation" went looking for some of the unluckiest stocks on Wall Street.

Not only have Las Vegas Sands, Global Payments, Micron, Amazon and Hess not broken to new highs even as the S&P 500 makes its own records, those five have also plummeted over the past month.

But some could be due for a rebound.

Quint Tatro, president at Joule Financial, said semiconductor stock Micron Technology looks best here.

"There's times when stocks are down and they clearly are value traps, and then there's times when stocks are down and that's when you're supposed to add to the position, and I think Micron is one of those names," Tatro said Friday.

Micron has fallen nearly 30% from an April peak, a far sharper decline than the 3% drop for the SMH semiconductor ETF. Shares have also fallen 10% in the past month.

"The stock has been hit because there's been a lot of reports that we're seeing a peak in the memory chip cycle … That is someone who's saying that we are topping out of people buying computers. I do not think that's happening," he said.

Morgan Stanley on Thursday, for example, said "winter is coming" for the semiconductor space and that the industry looked to be late cycle, which presents a "challenging background" for future earnings growth.

"So ultimately we have a stock that is down on that news, trading at six times — not 16 — six times forward earnings, and those earnings are set to rebound post-Covid about 100%," Tatro said. "This is a name that has pulled back that you have an opportunity to buy on this weakness. I think it's an incredible value here."

Craig Johnson, chief market technician at Piper Sandler, turned to Sin City for his stock pick.

"We're looking for a little Lady Luck here, and taking a look at Las Vegas Sands. I mean, it might be so bad it could be actually good," Johnson said during the same segment.

Las Vegas Sands has dropped 21% over the past month, tumbling more than 40% since a March high. Johnson notes the stock is also not far off a low of $33.30 set in March 2020 — it closed Friday just below $40.

"This is a stock that's already taken a tremendous amount of pain. Yes, 80%+ of the revenues come from Singapore and Macau so there are clearly challenges over there with further lockdowns related to Covid. But at some point in time, Covid will pass and we will start to see these gambling centers start to open up again," said Johnson.

Disclosure: Quint Tatro and Joule Financial hold shares in Micron Technology.

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