In an economic landscape with record-level interest rate increases and persistent inflation, growth stocks usually struggle. As borrowing costs rise, liquidity dries up and volatility returns. Investor appetite shifts to alternatives like bonds and causes growth stocks to take a hit. 

Yet, like any phase, this one will eventually fade and give way to a new growth cycle. When this will happen is difficult to predict, but once the market relents, there is one growth stock that long-term growth investors need to add to their portfolio while it trades at a discount: Tesla (NASDAQ: TSLA). 

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Source Fool.com