One Beaten Down Stock-Split Stock to Buy Now
The U.S. equity market has had a difficult ride in 2022. Rising inflation and subsequent interest rate hikes, geopolitical tensions, and stalling economic growth have been exerting downward pressure on the tech-heavy Nasdaq Composite. The recent sell-off has unduly punished many high-quality tech stocks. Technology giant Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) is one such stock and not even an upcoming stock split has been able to save the company's shares from the downfall.
A major beneficiary of stay-at-home requirements during the COVID-19 pandemic, Alphabet's Class A shares are currently down about 24% from their all-time high of $3,030.93. Besides challenging macroeconomics, the stock is also suffering due to tough year-over-year comparisons associated with an unusually solid performance in 2021, from intensifying competition between its video platform YouTube and competitor platform TikTok, as well as a difficult environment for the overall digital advertising industry.
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Source Fool.com
