1 Struggling Tech Stock to Buy in August and 1 to Avoid

In early June, the S 500 closed 20% from its most recent low, which, one could argue technically marks the start of a new bull market. No one knows how long it will last, but every investor wants to profit from it. One way to do so is to target companies that don't seem to be doing too well but still have solid long-term prospects.

However, it's also vital to avoid struggling stocks that seem to be going nowhere. Let's look at two companies whose financial results haven't been strong in recent quarters: (NYSE: SNAP) and Chegg (NYSE: CHGG). The former still looks like a buy despite its unimpressive quarterly updates, while the latter is less attractive. 

Snap is a social media specialist that has encountered some of the same issues as its competitors. The company makes most of its money from ads, a tricky industry to be in right now. But while other social media companies, such as Meta Platforms, seem to be rebounding, Snap is still struggling to grow its revenue. In the second quarter, the company's top line declined by 4% year over year to $1.1 billion.

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Source Fool.com