3 Stocks to Pounce On As the Market Dips
Investors have had a rough week as the market has repeatedly threatened to dip into correction territory, defined a 10% decline from its high. At Wednesday's prices, the S&P 500 is already down 8.7% in 2022 with interest rate hikes on the horizon and inflation still looming.
A sharp drop can be unsettling. But don't panic -- in the long run, it can be an opportunity. If you're looking to take advantage of this week's volatility, start with Upstart Holdings (NASDAQ: UPST), Block (NYSE: SQ), and MercadoLibre (NASDAQ: MELI).
Upstart was one of the biggest investing stories of 2021, zooming as high as 18 times its IPO price in less than a year. But shares are now back under $100, and the stock is trading at 97 times its trailing 12-month earnings. That's not cheap by any measure, but it might be an appropriate premium for a stock with Upstart's potential.
Source Fool.com
