SNOW - A Bull Market Is Coming: 1 Magnificent Growth Stock Down 62% You'll Regret Not Buying on the Dip
2023-10-01 11:45:00 ET
After more than a year of uncertainty, 2023 has marked a return to form for Wall Street. The S&P 500 index has gained nearly 12% so far this year and is up 20% since last October's bear market low. While some investors are already heralding the arrival of the next bull market, others are waiting for the index to reach a new high, which is less than 12% above the current level. While the market is currently taking a breather after its recent gains, it's only a matter of time before the bull run gains traction.
The uneven recovery represents an opportunity for savvy investors, and Snowflake (NYSE: SNOW) is one example. The stock is currently trading 62% below its all-time high, but strong results and a new bull market could drive Snowflake higher in the years to come. In fact, bull markets have lasted 8.9 years, on average, generating cumulative returns of 468%, and many stocks will generate significant gains once the next bull run begins.
Here's why Snowflake could be among the big winners.
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A Bull Market Is Coming: 1 Magnificent Growth Stock Down 62% You'll Regret Not Buying on the Dip