1 Stock I'm Buying Before 2022 Ends
2022 has been good for some stocks, but terrible for most. One company that would like to slam the door shut on 2022 is Adobe (NASDAQ: ADBE). The stock is down about 42% year to date, though this drop was exaggerated by the negative market's reaction to an acquisition Adobe made in September.
Unlike what the market thinks, I believe Adobe is still a top-tier stock and will be adding to my position before 2022 ends. Here's why I think Adobe is an excellent buy now and could have a great 2023.
On Sept. 15, Adobe announced its acquisition of the collaborative design company Figma. Investors' main problem with it was the price tag -- $20 billion. The company only generates $400 million in annual recurring revenue, which values the acquisition at 50 times sales. That valuation is associated with the inflated tech stock prices of 2021, not the more realistic ones of 2022.
Source Fool.com
