The Nasdaq-100 index is home to 100 of the largest technology companies listed on the Nasdaq stock exchange. After recording a miserable loss of 33% in 2022, it's off to a hot start this year with a 21% gain so far this year.

But that's very much in keeping with history. The Nasdaq-100 has only declined in consecutive years on one occasion, and that was during the dot-com tech bust from 2000 to 2002. Every other annual loss since the index's inception in 1986 has been followed by a strong rebound the next year.

In fact, the Nasdaq-100 has averaged a whopping 52% return in bounce-back years (excluding the dot-com period), which implies it still has plenty of room to run higher in the remainder of 2023. If history does repeat, here's a growth stock that investors might want in their portfolio.

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Source Fool.com