1 Growth Stock Down 13% to Buy Right Now
The market's recent rally has made it much harder to find attractive stock deals if you're a growth-focused investor. The Nasdaq Composite index, home to many growth stocks, has surged by 15% since late October. Percentage gains have been much higher for some individual stocks such as Nvidia.
So if you're seeking undervalued options, broadening your investment search beyond the most popular tech stocks can help. Consider the case of Home Depot (NYSE: HD), for example, whose shares are down by more than 10% from the peak that they touched in late 2022. That slump has been driven by weakening earnings trends, of course. But the home improvement retailer's long-term outlook is bright.
It's true that Home Depot's business is taking a step backward right now. Comparable-store sales are on track to post a rare decline for 2023, dropping roughly 3%. Sales have fallen by that same rate over the last nine months.
Source Fool.com
