Nasdaq Bear Market: 1 Fantastic Growth Stock You'll Regret Not Buying on the Dip

Persistent inflation and aggressive interest rate hikes have convinced many investors that the economy is headed for a recession, and that fear has weighed on the stock market. The Nasdaq Composite is currently down 22% from its high, which puts the widely followed index in bear-market territory.

From a short-term perspective, that reaction is quite logical. Rising prices will eventually put pressure on consumer spending, dampening demand for discretionary items and slowing economic growth. But inflation is ultimately temporary, and the market has inevitably rebounded from every past downturn. That means the current situation is actually a good time to buy stocks.

With that in mind, PayPal Holdings (NASDAQ: PYPL) is currently 68% off its high, and the stock looks too cheap to pass up.

Source Fool.com