Nasdaq Bear Market: 1 Beaten-Down Growth Stock to Buy and Hold
The tech-heavy Nasdaq Composite has been the worst performing of the three major U.S. market indexes this year. That's not great news for investors who fancy the technology sector. However, it also means plenty of leaders in the space are now trading at much lower prices.
In other words, it's an excellent opportunity to buy low -- at least relatively speaking, since there is no way to tell whether equity markets have truly bottomed out yet. Need some inspiration? Here is one stock that has been pummeled over the past year but still has solid long-term prospects: Roku (NASDAQ: ROKU).
Roku recently released its second-quarter results, and to say that it failed to impress investors would be an understatement. The tech company reported a net loss of $112.3 million, compared to net income of $73.5 million in the year-ago period. Roku's bottom line was much worse than analysts had anticipated, one of the major factors leading to the stock's decline on the heels of its earnings release.
Source Fool.com
