August Tech Sell-Off: 1 Growth Stock to Buy, and 1 to Sell
The stock market has been on a tear in 2023, led by the technology sector. The Nasdaq-100 index, which hosts 100 of the largest tech companies listed on the Nasdaq exchange, has soared 35% year to date.
But we've just entered a seasonally weak period. August and September tend to be the two worst months for the broader market, as many Wall Street fund managers are away for the summer, which results in thin volume and fewer buyers. Right on cue, the Nasdaq-100 has plunged almost 8% since the beginning of August.
Many individual tech stocks are also heading south, and that's opening a window of opportunity for investors. But not all declining stocks are the same. Some genuinely represent a good value, while others are extending previous declines and warrant caution. With that in mind, here's one stock to buy now, and one to sell.
Source Fool.com
