A Bull Market Is Coming: Buying This Magnificent Growth Stock Could Be a Genius Move Right Now
The stock market has shown remarkable resilience so far this year despite the odds of a recession and the recent banking turmoil in the U.S., which is evident from the S&P 500 index's 4% gains in 2023.
Meanwhile, the tech-heavy Nasdaq-100 Technology Sector index has clocked stronger gains of 19% thanks to a rally in tech stocks. It is worth noting that the S&P 500 has a history of bouncing back strongly following a bear market. The index has averaged a 38% return in the 12 months after hitting lows during a bear market. The Nasdaq-100 also tends to deliver big gains in the year following a bear market, suggesting that a bull market may be in the cards as the Federal Reserve eventually pivots and starts cutting interest rates.
That's why investors can consider buying shares of The Trade Desk (NASDAQ: TTD). The stock has jumped 32% so far in 2023, and it could deliver more upside thanks to the lucrative market the company is operating in and the impressive growth rate it has been delivering. Let's look at the reasons why buying The Trade Desk could turn out to be a genius move.
Source Fool.com
