Tech Sell-Off: This Beaten-Down Growth Stock Could Soar 140%, Says Wall Street
The stock market has taken a broad pummeling since November 2021, but the tech sector has been hit particularly hard. It began with the emergence of the omicron COVID-19 variant, followed by concerns that interest rates will rise much faster than expected to curb inflation. Now, investors are rocked by the Russian invasion of Ukraine.
The tech-centric Nasdaq 100 index is down 14% year to date, and many individual technology stocks have slipped deep into bear market territory, losing 20% or more. But for investors with a long-term focus, these conditions create a breeding ground for opportunity.
Upstart Holdings (NASDAQ: UPST) is a high-growth, profitable tech company with some lofty expectations on Wall Street that suggest its stock could soar. Here's why.
Source Fool.com
