Got $1,000? Buy the Dip on This High-Growth Fintech Stock While It's Down 65%

The stock market has been hammered since the start of 2022, owing to a range of macroeconomic and geopolitical headwinds. On June 15, the Federal Reserve raised its benchmark federal funds interest rate by 75 basis points -- the biggest single step up in that rate since 1994 -- as it continues its attempt to tamp down inflation. To put it mildly, the market has not reacted positively to high inflation, rising interest rates, supply chain issues, and other challenges linked to Russia's invasion of Ukraine.

That said, plenty of stocks are now falling based on negative market sentiment rather than fundamentals. As prudent, long-term investors, we can exploit the ongoing correction by accumulating shares of high-quality companies while they are trading at alluringly low valuations. In fact, investors should buy stocks when it feels uncomfortable because it is from those purchases that we will often reap our biggest gains.

On that note, here's one financial technology stock that is down about 65% year to date, but that could generate excellent returns for patient investors over the long run.

Source Fool.com