1 Glorious Growth Stock Defying the Nasdaq Bear Market This Year
Every stock market sector is down in 2022 except one: the energy sector. But given the shift to green power, that outperformance is unlikely to persist in the long run. It highlights how difficult it has been to find returns in this difficult economic climate, with inflation soaring and interest rates on the rise.
The Nasdaq-100 index, which represents the technology sector, is firmly in a bear market, with a decline of 33% year to date. But there are some individual tech stocks doing far better right now. That doesn't necessarily mean they're positive for 2022, but rather they're down less than the index, hinting that they could be among the best performers when the economy turns around.
Duolingo (NASDAQ: DUOL) is one of them. Its stock price has lost just 6% this year, and it's because Duolingo's business is proving resilient to the economic downturn. Here's why investors should consider adding it to their portfolio right now.
Source Fool.com
