Nasdaq Bear Market: 1 Growth Stock You'll Regret Not Buying on the Dip
As the Nasdaq Composite Index, which plunged 33% in 2022, tries to claw back its losses, there are some potentially lucrative opportunities to take advantage of right now. While waiting on the sidelines until the market starts to rebound and the economic picture is more certain might seem like the right strategy, investors are going to regret not buying on the dip. That's because cheaper valuations translate to higher potential returns, all else equal.
One growth stock in particular that deserves your attention is Amazon (NASDAQ: AMZN), whose shares are down 30% over the past 12 months, despite being up 20% in 2023 (as of this writing). Here's why there's no question that this e-commerce and cloud-computing giant should be in everyone's portfolio.
There's no doubt that Amazon is facing some headwinds right now. Following a pandemic-fueled surge in 2020, the business is seeing sales growth slow down. In the third quarter of 2022 (ended Sept. 30), revenue was up 14.7% year over year, which missed Wall Street's expectations. Difficult comparisons, a softer macroeconomic backdrop, and normalization of consumer behavior deserve the blame.
Source Fool.com
