1 Growth Stock, Down 54%, to Buy for the Long Term
If you've been watching the stock market lately, you know that the technology sector is in the midst of a persistent sell-off that began in November 2021. Many individual high-growth stocks have plunged by 50% or more, which by definition places them in bear market territory.
History suggests market declines like these often present buying opportunities, mostly for select quality stocks with sound underlying businesses and expanding addressable markets. Perhaps more crucial, though, is to purchase with a focus on the long term so as to ensure the best results.
Language education-technology company Duolingo (NASDAQ: DUOL) is on the cusp of a major growth opportunity, and with its stock price down 54% from its all-time high of $205 a share, now might be the time to get involved.
Source Fool.com
