1 Growth Stock Down 43% to Buy Right Now
Attractive investment opportunities can sometimes arise when investors react emotionally to short-term events. Some of these events revolve around the earnings season, when a company releases financial results that fall short of analysts' expectations. It can be a miss involving just a penny or two, but the stock will still get sold down savagely. Such was the case for (NASDAQ: DXCM), a manufacturer of continuous glucose monitors (CGMs) for diabetics. The healthcare company's stock plunged by 41% in a single day on July 26 when the company released its 2024 second-quarter earnings.
But here's the thing. Such short-term share price fluctuations should not detract you from the long-term objective of growing your wealth. If a business enjoys solid long-term prospects, then a sharp plunge in its share price represents the perfect opportunity to accumulate a growth stock on the cheap. Let's find out why this is the case for DexCom and why it's a stock worth considering for your investment portfolio.
Image source: Getty Images.
Source Fool.com
Dexcom Inc. Stock
The stock is an absolute favorite of our community with 24 Buy predictions and no Sell predictions.
With a target price of 122 € there is a hugely positive potential of 80.15% for Dexcom Inc. compared to the current price of 67.72 €.
