This Is the Only Stock I Added to During the Recent Nasdaq Sell-Off -- and It Remains Jaw-Droppingly Cheap
For much of the past two years, the bulls have been firmly in control on Wall Street. The mature stock-powered Dow Jones Industrial Average, benchmark S 500 (SNPINDEX: ^GSPC), and innovation-driven Nasdaq Composite (NASDAQINDEX: ^IXIC) have all rallied to multiple record-closing highs this summer.
But as the first three trading sessions of August reminded us, stocks rarely, if ever, move up in a straight line.
Although growth stocks have undeniably led this rally, it was the Nasdaq Composite that really took it on the chin to begin this month. Over a three-session stretch, the index shed just shy of 1,400 points, or about 8% of its value. As of the closing bell on Aug. 5, the Nasdaq sat 13% below its all-time high.
Source Fool.com