Tech Sell-Off: 1 Nasdaq Stock Down 38% That Could Double in 5 Years
The correction in technology stocks this year has put some high-flying names in a deep hole, as investors have pressed the panic button to shun richly valued companies amid rising interest rates and surging inflation to instead park their funds in safer assets.
Shares of Zoom Video Communications (NASDAQ: ZM) have been hit badly during the sell-off, plunging 32.5% in 2022 as compared with the Nasdaq-100 Technology Sector's smaller decline of 11%. However, the sharp drop in Zoom stock is a great buying opportunity for investors, as it has what it takes to regain its mojo in the long run and even double.
Let's look at the reasons why this tech stock could deliver eye-popping returns in the long run.
Source Fool.com
