1 Growth Stock to Buy and Hold in a Market Downturn

Delivery service operator DoorDash (NYSE: DASH) is off to a rocky start. The stock has fallen 49% since the first day of trading in December 2020. One might think that the company is marked for weaker business results as the artificial gains from the coronavirus lockdowns fade away.

I think that's a mistake, which makes DoorDash a no-brainer buy at these affordable prices. This stock seems destined to bounce back in due time, whether or not the coronavirus crisis causes another market downturn.

DoorDash reported fourth-quarter results last week. The stock opened 22% higher the next morning, but that doesn't mean you missed the boat on the stock. The quick gains faded just as swiftly. By the closing bell on Friday, the stock had gained just 1.4% from the pre-earnings level.

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Source Fool.com