The Nasdaq Could Soar in 2023 -- 5 Stocks Down 57% to 91% to Buy Before It Does
Investors holding a portfolio with lots of technology stocks in it are probably still feeling battered and bruised after a rough 2022. The Nasdaq Composite index, which has a bigger than average share of tech stocks in it, plunged 33% for the year as inflation and interest rates climbed. It was the worst annual performance since 2008.
A look back at the Nasdaq Composite's 51-year history shows that back-to-back losing years are incredibly rare. There have only been two instances since 1971. That suggests 2023 has a very good chance of ending with positive returns. It's also encouraging to note that the index has soared by 33% on average in the first positive year after a loss.
The broader tech sell-off was brutal for the following five stocks, but if history repeats for the Nasdaq, these five tech stocks could have a great 2023 too.
Source Fool.com
