1 Growth Stock Down 21% to Buy Right Now

2026-03-09 14:05:00 ET

Barring economic calamities comparable to the Great Depression or the global financial crisis, high-net-worth individuals don't dramatically alter their spending habits as the rest of us do. Garden-variety recessions, while painful for the middle class, typically don't dent affluent folks' desire for high-end items, travel, and the like.

Given that the wealthy are, well, wealthy and that the U.S. economy is growing, statistically speaking, Ferrari (NYSE: RACE) should be a prime example of a consumer cyclical winner. Yet shares of the Italian sports car manufacturer are off 21% over the past year. That sounds even worse, given that a bear market is defined as a decline of 20% from a stock's most recent high.

The check engine light is on for this automotive stock, but that may be an opportunity. Image source: Getty Images.

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