1 Growth Stock Down 26% to Buy Right Now
The COVID-19 pandemic caused a boom in e-commerce as millions of homebound consumers shopped almost exclusively online. As a leader in the industry, Amazon's (NASDAQ: AMZN) stock skyrocketed, reaching a high of $186 in July 2021. However, an economic downturn in 2022 sent the stock tumbling, losing what it had gained the year before. It remains down 26% from its 2021 high despite a recent rally.
Market volatility hasn't made it easy to be an Amazon investor over the last five years. However, glowing earnings results for the second quarter of 2023 and shares that have risen roughly 65% year to date make it an attractive long-term investment. It may be down since 2021, but that only strengthens the argument for its stock as it has plenty of room for growth ahead.
So, here's why Amazon is one growth stock you'll want to buy right now before it's too late.
Source Fool.com
