This Growth Stock Is Down 63% in 1 Year. Here's Why You Should Buy the Dip and Hold It for 5 Years
With shares of Ginkgo Bioworks (NYSE: DNA) collapsing by 63% in the last 12 months, you'd be forgiven if you thought the biotech's heyday had ended.
But for daring investors who can tolerate plenty of risk and who have enough patience to wait for five years or potentially a bit less, it's possible that this biotech's time in the Sun probably hasn't even started yet. Here's why Ginkgo Bioworks could be a great contender in 2023, regardless of what its stock did recently.
Ginkgo's fortunes have been poor lately thanks to a combination of the bear market's distaste for unprofitable growth stocks and some genuine headwinds that are likely to permanently depress sales in one of its major segments.
Source Fool.com
