Tech Sell-Off: 1 Nasdaq Stock Down 61% to Buy Before It Starts Soaring
Technology stocks have taken it on the chin this year as investors dumped high-growth companies with equally high valuations. This phenomenon was further compounded by rising interest rates, 40-year-high inflation, and ongoing economic uncertainty. These factors have pushed the Nasdaq Composite into bear market territory, with the widely followed index down roughly 23% from last year's November high.
As much as investors dislike the unending volatility and paper losses such markets bring, the tech sell-off has created some compelling opportunities for investors. Perhaps one of the best examples of that is Nvidia (NASDAQ: NVDA). The company, which supplies graphics processing units (GPUs) used in gaming, cloud computing, data centers, and more, has seen its stock crash more than 61% as of this writing, despite its history of resilient growth.
Can Nvidia overcome the headwinds that have dogged its stock so far this year? Let's look at the big picture for clues.
Source Fool.com
