3 Growth Stocks Down 62% or More
It's been one of the toughest starts of the year in a long time. The S&P 500 Index has chalked up a 16.4% decline from January's high, nearly tipping the bellwether index into bear market territory. The Nasdaq Composite Index, which houses a wide swath of growth and technology stocks, has fared even worse. The index fell 13.3% in April alone, and is now down 25% year-to-date, putting it firmly in bear market territory.
It's important, however, to separate the business from the stock price. Many companies were not that long ago flitting with all-time highs as the pandemic caused their valuations to surge into the stratosphere. With the pandemic easing and the Federal Reserve announcing a series of interest rate hikes to help tamp down rising inflation, numerous growth stocks have seen their valuations tumble, dragging their shares prices sharply lower.
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Source Fool.com
