BILL - 1 No-Brainer Stock to Buy With $60 and Hold for 10 Years
2024-05-08 04:10:00 ET
Bill.com (NYSE: BILL) stock went public in Dec. 2019 at an initial offering price of $22 per share, and by the latter half of 2021, it had soared almost 1,500% to an all-time high of $348.50. Two factors drove its incredible gains: The company was consistently growing its revenue at a triple-digit rate, and investors were caught up in a broader frenzy for technology stocks.
Neither of those factors remain in play today. Bill.com's revenue growth has moderated, and soaring interest rates over the past couple of years have pushed investors to behave more rationally. As a result, Bill.com stock is now trading 84% below its all-time high, but its sell-off might be just as irrational as its ascent.
Here's why investors might want to buy Bill.com.
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1 No-Brainer Stock to Buy With $60 and Hold for 10 Years