Tech Sell-Off: 1 Top Nasdaq Stock Down 52% to Buy Before It Starts Soaring
The bear market has mauled technology stocks over the past year, as investors sought safe havens to ride out the macroeconomic headwinds. Wall Street has struggled with near 40-year-high inflation, relentless interest rate hikes, and the potential for an even steeper downturn next year. This wave of uncertainty has washed over the Nasdaq Composite (NASDAQINDEX: ^IXIC), pushing the tech-centric index down more than 26% since its high-water mark in late 2021. Many individual stocks have fallen even further.
Yet, as troubling as the past year has been, there's actually some good news. Even as the paper losses persist, this uncertain environment provides marvelous opportunities for investors. One such example is Tesla (NASDAQ: TSLA). The electric vehicle (EV) maker has seen its shares crumble, down 52% since early this year, despite an unrivaled history of persistent growth and an industry-leading position.
Can Tesla drive through the economic storm that has buffeted its stock so far this year? Let's take a step back and look at the big picture.
Source Fool.com
