LMND - History Suggests the Nasdaq Could Soar in 2024: 2 Growth Stocks to Buy as Part of Your New Year's Resolution
2024-01-11 05:46:00 ET
The tech-heavy Nasdaq-100 index fell 33% in 2022, plunging into a bear market. But it recovered all of those losses in 2023, and closed at a new all-time high in December, which -- technically speaking -- marked the beginning of a new bull market for that particular index.
In fact, according to historical data going back to the establishment of the Nasdaq-100 in 1986, rebound years like 2023 have always been followed by a second positive year. That bodes well for 2024, especially considering the favorable macroeconomic tailwinds like falling inflation and an expected drop in interest rates.
There are still some small-cap technology stocks trading well below their best-ever levels, and a new bull market could see them recover some ground. Here's why investors should consider making Lemonade (NYSE: LMND) and Snap (NYSE: SNAP) part of their 2024 New Year's resolutions.
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History Suggests the Nasdaq Could Soar in 2024: 2 Growth Stocks to Buy as Part of Your New Year's Resolution