Tech Sell-Off: My Best Stock to Buy and Hold Right Now
Last year, Wall Street couldn't get enough of Zoom Video Communications (NASDAQ: ZM). The stock climbed 396% in 2020, fueled by the company's supercharged financial performance during the height of the pandemic. However, things have reversed course this year, and the stock now sits 66% below its all-time high.
Of course, many tech stocks have sold off sharply in recent months, but the driving force behind Zoom's nosedive is perception. Many investors still view Zoom as a "COVID stock," failing to see the company's relevance beyond the pandemic. Fortunately, that has created a buying opportunity for long-term investors.
Image source: Zoom Video Communications.
Source Fool.com
