Going Bargain Hunting? PayPal Is the Best Beaten-Down Stock to Buy in 2024, but Only If You Believe 1 Thing.
Thanks to the remarkable performance of the so-called "Magnificent Seven" stocks, it seems like the major market indexes continue to hit fresh all-time highs with each passing day. Investors might struggle to find attractive buying opportunities when bullish sentiment prevails.
Not all companies have rallied amid market enthusiasm. Just look at (NASDAQ: PYPL). Shares of the digital payments pioneer are down 81% from their peak price. In 2023, they dipped 14%, as the Nasdaq Composite index surged 43%.
Despite its terrible performance, this beaten-down fintech stock might just be the best business to add to your portfolio in 2024. That's only if you believe one very important thing.
Source Fool.com