History Says the Nasdaq Will Outperform in 2024: 1 Stock-Split Stock to Buy Now and Hold Through the Surge
The past couple of years have been dramatic for growth stock investors. The Nasdaq Composite index, which is chock-full of growth stocks, tanked by 33% in 2022. The growth-stock-laden index recovered in a big way last year with a 43% gain.
Last year was the 11th time since 1971 that the Nasdaq Composite index returned to positive gains following a negative year. All recoveries have lasted at least two years. The second year of Nasdaq Composite index recoveries are generally less dramatic than the first year but are still significant.
During the second year of the past 10 recoveries, the Nasdaq Composite index has gained 21.8% on average. That doesn't necessarily mean growth stocks in the Nasdaq Composite will have another great year in 2024, but it sure seems likely.
Source Fool.com
