ANGO - Wall Street Thinks This Obscure Growth Stock Could Soar 92% in 2023
As painful as market volatility can be, investors can leverage this to their advantage. The Nasdaq Composite is loaded with growth-oriented stocks. And while this has been a good place to be for the last decade-plus, growth stocks have had no place to hide in 2022 with surging interest rates and recession fears. This is why the Nasdaq has plunged 35% year to date.
Shares of the small-cap medtech company known as AngioDynamics (NASDAQ: ANGO) have fared even worse -- down a whopping 55% in 2022. But a major recovery could be on the way for the stock in the new year. Here's why.
AngioDynamics isn't a household name to most investors. But with hundreds of patents in its portfolio of medical devices focused on treating peripheral vascular disease and a variety of cancers, the company is growing in recognition among healthcare professionals. The company is split into two segments: the medical devices segment and the medtech segment.
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Wall Street Thinks This Obscure Growth Stock Could Soar 92% in 2023