This Dividend Stock Hasn't Been This Cheap in 10 Years: Is It Time to Buy the Dip?
Every day it seems like there is some news that moves the stock market significantly. Inflationary pressures, rapidly rising interest rates, uncertainty in energy markets, and geopolitical conflicts have contributed to volatility across all assets. As a result, the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average are all trading in bear market territory -- defined as a sustained 20%-plus drop from their peak levels.
Bear markets really challenge an investor's will. No one likes seeing their investments lose value. They are also an opportunity to buy stock in great companies at discounted prices. One beaten-down company with consistent earnings trading at its cheapest price tag in years is Intercontinental Exchange (NYSE: ICE). Here's why you should consider buying it today.
Intercontinental Exchange provides a variety of services to investors in financial markets. The company operates 13 regulated exchanges globally, along with six clearing houses. On these exchanges, investors can trade in securities like commodities, interest rate products, equities, and exchange-traded funds (ETFs). It owns the New York Stock Exchange (NYSE), which is the trading platform for over 70% of the stocks in the S&P 500. About half of its revenue comes from the exchanges segment in the form of transaction fees from investors trading in its products and recurring fees it earns from companies listing their stock on the NYSE.
Source Fool.com
