Is It Time to Buy the Nasdaq's 2 Worst-Performing October Stocks?
While the Nasdaq is still in a bear market, the tech-heavy index actually had a strong October, finishing the month up 3.9%. Despite those gains, which seemed to come on hopes for a Fed pivot, the Nasdaq actually trailed both the S&P 500 and the Dow Jones Industrial Average. Top tech stocks like Amazon, Alphabet, and Meta Platforms fell sharply on their earnings reports, weighing on the broader tech index, and showing that the economy could be headed for recession.
Sometimes sell-offs can lead to buying opportunities, though. Let's take a look at two of the worst stocks in the Nasdaq in October to see if either of them are worth buying.
TuSimple (NASDAQ: TSP) became the latest vehicle technology stock to blow up last month when news broke that the FBI and SEC were investigating it on charges of financing and transferring technology to a Chinese start-up, Hydron.
Source Fool.com
