1 Growth Stock Down 94% to Buy Right Now
The technology sector has taken a beating this year, with the Nasdaq-100 index down 28%. The retreat is being driven by soaring inflation and rising interest rates, which are putting the brakes on the economy and forcing investors to rethink their growth expectations.
This is hurting some companies more than others. Upstart Holdings (NASDAQ: UPST), for example, uses artificial intelligence (AI) to originate loans for banks on other lenders, and investors have doubts about how well its lending models will hold up as household finances deteriorate. To make matters worse, demand for loans is slumping as the economy sputters.
As a result, Upstart stock has plunged 94% from its all-time high. But the shares may be very attractive at today's prices, with the potential to deliver solid long-term returns for investors who buy now.
Source Fool.com
