Nasdaq Bear Market: 2 Beaten-Down Stocks That Could Double in 5 Years
The Nasdaq Composite witnessed a brutal sell-off so far in 2022. The index lost 31% of its value so far as investors decided to dump high-growth companies, in part because the Federal Reserve hiked interest rates to curb the surging inflation. On a positive note, the correction also opened an opportunity for investors to buy some great companies at attractive valuations.
The stocks for electric vehicle (EV) specialist Tesla (NASDAQ: TSLA) and chipmaker Marvell Technology Group (NASDAQ: MRVL) are down 38% and 56%, respectively, so far this year. But savvy investors might want to consider accumulating these Nasdaq stocks if the sell-off continues as each company is sitting on terrific catalysts that could supercharge growth in the long run. Let's look at the reasons why these two stocks could double in five years.
Tesla is having a terrible October as the EV maker missed Wall Street's delivery estimates at the beginning of the month. The company produced nearly 366,000 vehicles during the quarter and delivered just over 343,000 units. Analysts, however, were expecting Tesla to deliver just over 359,000 vehicles.
Source Fool.com
