3 Humbled Nasdaq Stocks Ready to Bounce Back
It's been a rough few weeks for stocks. The Nasdaq Composite (NASDAQINDEX: ^IXIC) now sits more than 30% below its November high after dropping to a new multi-month low this week. And the composite is a weighted average of every Nasdaq-listed ticker. For some stocks, the declines have been much, much worse.
As tough as it may be to believe right now, however, there are long-term opportunities among the most beaten-down names. You just have to find the guts to step in even knowing that this bear market may not be at its cyclical bottom just yet. Here's a closer look at three of your best bets right now from this humbled group of stocks.
Say what you want about the fallout from the budget-slashing initiative Lyft (NASDAQ: LYFT) announced last month -- just don't say the ride-hailing business model is fatally flawed. There are enough consumers out there who don't own cars (or don't want to drive one to a particular destination), and the market is slowly but surely figuring out how many rideshare drivers it needs, as well as the right price for their service. Lyft made huge bottom-line progress last quarter, and on an adjusted basis actually produced a net operating profit.
Source Fool.com
