These 3 Growth Stocks Are at Historic Lows, But Could Be About to Rally
This year has been a tough one so far for growth stocks. The Nasdaq Composite Index has slid 28.5% year to date as the post-pandemic demand for technology and digitalization normalizes. Also, the Federal Reserve's determination to bring stubbornly high inflation down to the 2% level has led to a surge in interest rates, making it tougher for businesses to borrow. The subsequent fall in consumer demand and the sharp decline in valuations have knocked many glossy stocks off their pedestal.
But amid the wreckage, there are still gems to be found. Companies that are leaders in their industry can manage the tough conditions to post a turnaround in due course. And let's not forget that there are still companies that are posting healthy growth despite the fall in their share prices. The market may be punishing a wide swath of growth stocks, but the savvy investor who is on the lookout for quality businesses can scoop up stocks on the cheap.
Here are three stocks that may have hit new all-time lows but could be poised for a strong rebound very soon.
Source Fool.com
