3 Top Stocks Down 32% to 87% to Buy Right Now
After a tumultuous first half of 2022, which saw major stock market indexes like the S&P 500 and the tech-heavy Nasdaq 100 plunge into bear market territory, green shoots are finally starting to appear. The Nasdaq 100, for instance, has bounced off its lows and gained an impressive 18% in the last two months alone.
However, many individual technology stocks are still deep in the red despite making up some ground alongside the broader market recently. Three Motley Fool contributors think if investor sentiment continues to improve, the upside in stocks like Snap (NYSE: SNAP), Veeva Systems (NYSE: VEEV), and Zoom Video Communications (NASDAQ: ZM) could accelerate. Those names are currently down between 32% and 87% from their all-time highs, but here's why they're worth buying now.
Anthony Di Pizio (Snap): Inflation in the U.S. is currently at a 40-year high, which has forced the Federal Reserve into one of the most aggressive interest rate hiking campaigns in its history. Rapidly increasing costs are hitting household budgets and shrinking the bottom line of corporate America, dealing a major blow to companies like Snap, the parent company of social media platform Snapchat, which rely on advertising as a source of revenue.
Source Fool.com
