Things turned out pretty well for my "three stocks to avoid" column last week. The three stocks I thought were going to lose to the market for the week -- AMTD Digital, Roblox, and Coinbase -- plummeted 73%, climbed 4%, and fell 3%, respectively, averaging out to a 24% decline. 

The S&P 500 experienced a 3.3% move higher. I was right. I have now been correct in 28 of the past 43 weeks, or nearly two-thirds of the time.

Where do I go to next? I see Tesla Motors (TSLA 4.34%), Bath & Body Works (BBWI 2.19%), and AMTD Digital (NYSE: HKD) as stocks you may want to consider steering clear of this week. Let's go over my near-term concerns with all three investments.

Seated person with question marks on the wall.

Image source: Getty Images.

Tesla Motors

Tesla stock is apparently back. The shares closed out a trading week above $900, the first time we've seen that in four months. Is it ironic that the leading maker of electric vehicles is climbing as gas prices are dropping? Is it surprising that Tesla is moving higher after CEO Elon Musk sells more shares? Is it a shock to see the stock shift into Drive as reports of its inability to master full-self driving goes viral? 

You don't want to be against Tesla in the long term, but you can pick your spots in the short term. Shareholders approving a 3-for-1 stock split wasn't unexpected news or much of a catalyst. Tesla is a high-beta stock, and one can argue that it will continue to rally as long as the market doesn't run out of gas (pun intended). However, no one will be surprised if the bullish rally takes a breather.

Bath & Body Works

This hasn't been a good summer for home and beauty goods, and we already saw Bath & Body Works hose down its near-term guidance last month. The retail chain specializing in soaps, candles, fragrances, and lotions warned that sales for its fiscal second quarter would decline 6% to 7% from the prior year. It was previously modeling a low single digit increase. It slashed its profit outlook by roughly a third. A similar markdown was done to its guidance for the full year. 

Bath & Body Works reports financial results on Wednesday. The bullish argument here is that the bad news is already out there. Since the warning we've seen the inflationary pressures that weighed on retailers ease. However, the stock has already rallied 33% since the day before it lowered its guidance. In short, it seems as if it's the recovery and not the downturn that has been discounted.  

AMTD Digital

This column may never duplicate the success it had last week by calling out AMTD Digital ahead of its 73% slide. However, it seems like there's still a lot of helium in the shares of this Asian platform for digital solutions. The stock is still trading ridiculously above last year's IPO at $7.80. The market cap still doesn't justify a stock with roughly $25 million in trailing revenue. 

This call is risky at this point, and it will dictate the way this column's performance does this week. I should probably point out that I still would've come out ahead this past week if it was just the other two stocks I singled out, but I get it. AMTD Digital is going to be up big or down big this week. It's not going to sit still.  

It's going to be a bumpy road for some of these investments. If you're looking for safe stocks, you aren't likely to find them in Tesla Motors, Bath & Body Works, and AMTD Digital this week.