FISV - Nasdaq Bear Market: 1 Growth Stock to Buy and 1 to Sell
2023-04-14 05:32:00 ET
For tech stock investors, 2023 has brought some welcome relief. The tech-focused Nasdaq-100 index is up about 19% year to date, and it has bounced by a total of 25% from its October 2022 low point. The index is still in bear territory and trades about 21% below its all-time high. Many individual tech stocks remain down an even greater percentage.
Looking at historical data, one thing we know for sure is that bear markets are often a great time to buy because the major stock indexes have eventually always recovered and set new highs. But while all indexes eventually recover, not all discounted stocks do. Savvy investors should see an attractive opportunity right now if they know which discounted stocks are likely to recover well. With that in mind, here's one growth stock to buy, and one growth stock to sell (or avoid).
If a blue-chip financial technology company existed, it would be Fiserv (NASDAQ: FISV) . It stands apart from its high-flying peers in the fintech sector with its steady, consistent growth and its reliable profitability. Some of that consistency comes from the fact that this company is a powerhouse that touches almost 100% of U.S. households.
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Nasdaq Bear Market: 1 Growth Stock to Buy, and 1 to Sell