This High-Yield Dividend Stock Could Blast to a New All-Time High While the Nasdaq Tanks
The S&P 500 officially entered correction territory on Wednesday as geopolitical concerns clashed with rising interest rates and inflation. Meanwhile, the Nasdaq Composite is down over 16% year to date and is just 119 basis points away from being down over 20% from its 52-week high -- which would officially mark the beginning of a bear market.
Investors looking for safe stocks to weather the story should look no further than defense contractor Lockheed Martin (NYSE: LMT). Despite being up nearly 10% year to date, the stock remains a great mix of value and income. Here's why it's a company worth owning now, especially for risk-averse investors who are more concerned with capital preservation than growth.
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Source Fool.com
