AMZN - 1 Growth Stock Down 75% You'll Regret Not Buying on the Dip
2023-05-10 06:09:00 ET
The technology sector has a history of outperforming the rest of the stock market. Over the last five years -- amid the pandemic, supply chain issues, war in Europe, and a weak economy -- the Nasdaq-100 tech index has delivered a total return of 90%. That's significantly better than the 51% return of the broader S&P 500 index.
But those stronger gains come with greater volatility, and as a result, it's not unusual to see individual technology stocks decline by 50% (or more). Not even the giants of the industry are immune; Tesla (NASDAQ: TSLA) , Amazon (NASDAQ: AMZN) , and Meta Platforms (NASDAQ: META) have all lost more than half their value at various points in time over the last 18 months.
One stock that still trades 75% below its all-time high is Confluent (NASDAQ: CFLT) . The company is growing quickly, and it just reported strong results for the first quarter of 2023, so here's why investors will want to buy the stock while it's down.
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1 Growth Stock Down 75% You'll Regret Not Buying on the Dip