Tech Sell-Off: 1 Nasdaq Stock Down 46% to Buy Before It Starts Soaring
Technology stocks have been beaten down this year as investors abandoned high-growth companies with similarly high valuations. This problem was compounded further by 40-year-high inflation, rising interest rates, and an arguably worsening recession. These factors have pushed the Nasdaq Composite into bear market territory, with the widely followed index down roughly 33% from its November high.
As bad as things might seem at the moment, the good news is that the bear market will eventually give way to the next bull run. Until then, investors should be on the lookout for the sterling opportunities that such sell-offs create. Perhaps one of the best examples of that is The Trade Desk (NASDAQ: TTD). The company, which uses high-speed computers and sophisticated algorithms to automate the digital ad-buying process, has seen its stock crater by nearly 46% as of this writing, despite the company's compelling growth story.
Can The Trade Desk navigate the macroeconomic headwinds that have dragged its stock down this year? Let's dig into the company for insight.
Source Fool.com
