OPAD - 2 Growth Stocks Down Over 75% to Buy for the Long Run
The real estate market has been red-hot over the last 12 months. According to the Case-Shiller Index, home prices have soared more than 19% in the past year and currently sit at an all-time high.
But interest rates have begun to tick higher, and the Federal Reserve has indicated its intention to take a more aggressive approach to battle high inflation, which is putting pressure on consumers. As a result, investors have been dumping the stock of some companies involved in the real estate sector, as higher rates could lead to softer house prices.
But names like Redfin (NASDAQ: RDFN) and Offerpad (NYSE: OPAD) are beginning to look oversold, and for investors with a five-to-10-year time horizon, this dip could present a major opportunity.
For further details see:
2 Growth Stocks Down Over 75% to Buy for the Long Run