Some investments are better than others. And while it can be difficult for investors to admit they were wrong about a stock, there comes a time when everyone should cut their losses. Some companies just can’t seem to get out of their own way and get their act together. That can lead to long-term declines in a share price that is not fixable because the underlying business is just broken.

Rising competition, poor execution, slumping sales, and internal problems can conspire to undo a company and its stock. In these situations, investors should head for the exits. Holding on hoping for a turnaround is too often a mistake as stocks fall from their highs, never to return. Some stocks disappear altogether following a corporate bankruptcy or delisting. When in doubt, it’s best to move on and sell dying stocks. Here are seven such stocks to sell in July while you still can.

Canopy Growth (CGC)

Cannabis producer Canopy Growth (NASDAQ:CGC) is literally a stock that is dying before our eyes. The latest terrible news related to the company is that its auditor, KPMG, resigned after Canopy Growth reported a net loss of $648 million for its fiscal fourth quarter and raised concerns about its ability to continue as a going concern. The business announced the appointment of PKF O’Connor Davies as its new accounting firm on the same day that it received a price target of “zero” from U.S. investment bank Benchmark.

Canopy Growth is also grappling with issues related to the financial results of its BioSteel sports drink unit. Regulators found that BioSteel made “material misstatements” in previous financial filings, causing Canopy Growth to refile three of its past financial statements. Now scrambling to raise cash and remain in business, the company completed the sale of its cannabis production facility in Modesto, California. The company has sold five production facilities generating 81 million CAD since April 1 of this year.

The turmoil has pushed CGC stock down over 80% so far in 2023. The shares currently trade for only 42 cents. Not good. All bad.

BlackBerry (BB)

Another stock that is shrinking right before us is former smartphone maker and meme stock extraordinaire BlackBerry (NYSE:BB). The company just reported a fiscal first-quarter net loss of $11 million. While the company recorded an improvement over a net loss of $181 million last year, BlackBerry remains awash in red ink. The truth is that the company never recovered after the iPhone was introduced in 2007. It has tried to refocus on cybersecurity and the Internet-of-Things (IoT) with little success.

For fiscal Q1 of this year, BlackBerry reported that its cybersecurity revenue declined 18% year-over-year to $93 million. Revenue related to its IoT business also shrank. In recent months, BlackBerry has taken to selling off patents related to its former smartphone glory days, including about $200 million worth of intellectual property that it sold to privately held Malikie Innovations this spring. Over the last five years, BB stock has declined more than 50%, including a 20% decline during the past 12 months. This one is definitely a stock to sell.

Algoma Steel (ASTL)

Speaking of corporate disasters, Algoma Steel (NASDAQ:ASTL) recently reported that its net income for its fiscal fourth quarter plunged 108% from a year earlier due to lower steel prices and weakening demand for its products. The company announced a fiscal Q4 net loss of $20.4 million, down from a net profit of $242.9 million in 2022. That equated to a loss per share of 19 cents — a stark difference from income of $1.45 a share just a year ago.

Algoma Steel’s revenue for the quarter ended March 31 totaled $677.4 million, down 28% during the same period in 2022. Earnings for the full fiscal year declined by over 65%. The company said it’s struggling with lower steel prices, higher input costs, and weak demand, particularly in the North American housing sector. But truth be told, Algoma Steel has been a bad investment for years. Since early 2021, ASTL stock has dropped more than 25%, including a 21% pullback in the last 12 months. That fact makes it a stock to avoid.

Lordstown Motors (RIDE)

Death for electric vehicle maker Lordstown Motors (NASDAQ:RIDE) comes in the form of a Chapter 11 bankruptcy filing. RIDE stock recently plunged on news that the company had filed for protection from its creditors and put itself up for sale. The company’s share price is down 87% year to date and trending lower on the penny stock league tables. While some retail investors are still toying with Lordstown Motors’ stock, pushing it up by 8% on July 5, getting involved with a bankruptcy concern is not advisable.

Lordstown, launched in 2018, has the Endurance electric pick-up truck as its main product. The company halted vehicle production earlier this year but resumed at a much lower rate in April. While Lordstown filed for bankruptcy seeking another company to buy it, the automaker has not had any offers. Lordstown Chief Executive Officer (CEO) Edward Hightower has said that the company’s production facility and Endurance truck could be attractive to an automaker looking to enter the American market. Here’s hoping.

Alibaba (BABA)

The cheery news from Chinese e-commerce giant Alibaba Group (NYSE:BABA) is that its CEO Daniel Zhang has stepped down right before the biggest restructuring in the company’s history. Longtime Alibaba executive Eddie Wu is replacing Zhang. The leadership change comes as China’s largest tech company prepares to reorganize itself into six separate business groups in an effort to boost flagging sales amid a sharp slowdown in the Chinese economy.

The internal turmoil at Alibaba follows several years in which the Chinese government and regulators cracked down on the company and singled it out for public humiliation and punishment. At one point, China’s government slapped Alibaba with a record fine of $2.8 billion for “exclusionary practices.” Alibaba founder Jack Ma went into hiding for an extended period. All this drama, both past and present, has weighed heavily on BABA stock, down 56% over the past five years, including a 31% decline in the last year.

Nike (NKE)

Hate to throw in the towel on Nike (NYSE:NKE). The sneaker and athletic apparel giant is certainly not in the same category as the other stocks on this list. That said, Nike’s most recent earnings report was a huge disappointment, and the share price continues to slump lower. Nike’s latest quarterly results represented its first earnings miss in three years due to lower profit margins and stagnant inventories. NKE stock fell 3% after the earnings print and is down over 10% on the year.

While Nike’s stock is likely to recover over the long term, it is now trading 40% below the all-time high it reached in November 2021, and it’s not clear what it will take to get the share price moving in the right direction again. Nike’s net income for its most recent fiscal year was $5.1 billion, down 16% from the previous year. The company said it had been hurt by a pullback in consumer spending, noting that its gross margins fell 1.4 percentage points to 43.6% during the latest quarter. Nike’s inventory was also flat compared to the prior year.

Federal Express (FDX)

Federal Express (NYSE:FDX) is another blue-chip name hard to discard. However, like Nike, FedEx has been moving in the wrong direction for some time, and there doesn’t appear to be any light at the end of the tunnel. The shipping and logistics company continues to announce disappointing earnings and offer up weak forward guidance. This has left both analysts and investors underwhelmed. Through five years, FDX stock is up a tepid 8%. Shareholders are right to expect more from the company.

For its recent quarter, FedEx reported a 28% decline in earnings per share (EPS) to $4.94, while revenue fell 10% to $21.9 billion. Analysts polled by FactSet had expected earnings of $4.85 a share on sales of $22.55 billion. Full-year earnings at the company declined 27% from a year earlier. FedEx showed full-year earnings of $16.50 to $18.50 a share on flat to slight single-digit revenue growth. In fact, FedEx’s earnings have declined an average of 27% in the last three quarters, and recent sales declines are concerning. Sadly, this is a stock to sell.

On the date of publication, Joel Baglole did not hold (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 InvestorPlace.com Publishing Guidelines.