History Says the Nasdaq Will Soar in 2024: 1 Superb Stock-Split Stock to Buy Before It Does
What a difference a year makes. After the Nasdaq Composite shed 33% of its value in 2022 -- one of the worst market performances in over a decade -- the index has nearly returned to its former glory, closing the door on 2023 with a gain of 43%.
History offers a hint about what could be ahead in the coming year. Since it first began trading in 1972, in every year that followed a bear-market rebound, the tech-heavy index has continued to rally, gaining 19% on average. While there are no guarantees in investing, this suggests the current recovery has more room to run.
One strategy investors use to find winning stocks is to look at companies that have conducted stock splits in recent years, as those moves are historically preceded by years of robust gains. One such company is Nvidia (NASDAQ: NVDA). Over the past decade, the stock has generated total returns of 12,780%, resulting in a 4-for-1 stock split in mid-2021.
Source Fool.com
