1 Magnificent Dividend Stock Down 69% to Buy Before It Soars
Identity verification specialist Clear Secure (NYSE: YOU) is a shining example of why it is generally better for investors to wait a few quarters after a company's initial public offering (IPO) before buying its stock. After it debuted in June 2021 at $31, it spiked above $60 per share in its first few weeks of trading. But since then, it has dropped by nearly 70% from its peak.
However, the beauty of being patient in this scenario is that not only is the stock available at a much lower price now, but the company has dramatically improved its operations. It has grown its revenue by 166% since 2021 and achieved a robust 33% free-cash-low (FCF) margin in 2023. Clear Secure also pays a dividend that at the current share price yields 1.2%.
With identity security poised to become increasingly critical in today's tech-dense world, here's why Clear Secure is poised to soar higher.
Source Fool.com
