Should You Buy These High-Flying Nasdaq Stocks?
The Nasdaq Composite has logged an impressive performance since its late September lull, up 12% from the low point of last month's sell-off, led by the likes of biotech companies Veracyte and Fate Therapeutics, as well as diagnostics stock CareDx. While they're ripe for a little profit-taking now, the COVID-19 contagion is creating clear opportunities for a bunch of healthcare stocks.
That's not the only bullish theme evident among the names leading the Nasdaq's recent rally, though. Solar stocks SunPower (NASDAQ: SPWR), Enphase Energy (NASDAQ: ENPH), and SolarEdge Technologies (NASDAQ: SEDG) are also on a roll. Each is up more than 60% over the past four weeks, and each has gained more than 20% in just the past week.
Sure, like other Nasdaq names, these stocks are subject to some near-term profit-taking. Any dip is ultimately a buying opportunity, however, as the tailwind pushing these stocks higher looks built to last.
Source Fool.com
