Over the last month alone, the Nasdaq-100 technology index has gained nearly 13%. It's on the cusp of clawing its way out of bear market territory, where it has spent much of 2022, as investors navigated soaring inflation and rising interest rates.
Evidence continues to mount suggesting the recent 40-year-high inflation numbers have peaked, including July's Consumer Price Index (CPI), which came in softer than expected earlier this week. It has reignited investors' appetites for growth stocks, which tend to perform better when interest rates are falling and the economy is on an upswing.
One growth stock worth buying right now is Workiva (NYSE: WK) , the developer of a leading data unification platform that plays an important role in over 5,000 organizations. It's a company of the future and some of its opportunities are still in their infancy. Since the stock remains down 53% from its all-time high, it might be a great time to get involved.
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1 Under-the-Radar Growth Stock Down 53% to Buy on the Dip