Got $1,000? 1 Top Growth Stock to Buy That Could Double Your Money
Software stocks have taken it on the chin over the last year, and Amplitude (NASDAQ: AMPL) isn't an exception.
The cloud software company is known as a pioneer in digital optimization, or helping companies track and analyze data from their digital products. It went public in September 2021, just months before the Nasdaq peaked. As a result, its valuation has come down substantially since then, and its growth has slowed as tech companies and other customers have pulled back on spending due to the broader economic slowdown.
The stock is now down nearly 90% from its peak shortly after its IPO, and shares recently fell below the $10 mark. Still, if you have $1,000 -- about a week's pay for the average American -- investing it in Amplitude could double your money, especially after the recent sell-off. Here are two reasons why.
Source Fool.com
