1 Magnificent Growth Stock Down 78% to Buy Hand Over Fist Before 2023
Runaway inflation and rising interest rates have investors worried about a recession, and that has weighed on the stock market, erasing trillions of dollars in wealth. In fact, all three major U.S. indexes -- the broad-based S&P 500, the tech-heavy Nasdaq Composite, and the blue-chip-packed Dow Jones Industrial Average -- have slipped into a bear market this year.
Meanwhile, Block (NYSE: SQ) has seen its share price drop 78%, as traders have mulled concerns about its growth prospects in a weak economy. But there is a silver lining to that shortsighted logic for long-term investors. High inflation is temporary and Block is brimming with potential, and the stock is trading in the bargain bin.
Investors should jump on that buying opportunity. Here's why.
Source Fool.com
