2 Nasdaq Growth Stocks Down 53% and 64% to Buy Hand Over Fist in 2023
The Nasdaq Composite is heavily weighted toward the technology sector, and that tends to make the index volatile. For instance, the Nasdaq is currently 31% off its high, while the broad-based S&P 500 is down just 17%. But there is also a silver lining to its tech-heavy nature. Despite falling more sharply of late, the Nasdaq has easily outperformed the S&P 500 over the past decade because it includes many innovative and potentially disruptive companies, and those companies can create tremendous value for patient shareholders.
Airbnb (NASDAQ: ABNB) and Datadog (NASDAQ: DDOG) fit that description. Both businesses are on the cutting edge of their respective industries, yet the challenging economic environment has sent shares of Airbnb and Datadog tumbling 53% and 64%, respectively, from their highs. But the economy will eventually rebound, and both stocks could soar when that happens.
Here's what investors should know.
Source Fool.com
