Tech Sell-Off: 1 Growth Stock to Buy, and 1 to Sell
August and September are historically two of the worst-performing months for the markets each year due to seasonal factors. Many Wall Street bankers take time off, which lowers trading volume, and fewer buyers are around to prop up dips in the market. What makes this year even tougher is that investors are navigating a challenging interest rate environment, with mortgage rates and key U.S. government bond yields rising to levels that could put the brakes on the broader economy.
A combination of the above headwinds sent the Nasdaq Composite technology index plunging 7.4% between Aug. 1 and Sept. 30, and that weakness carried through to October as well. As a result, many individual tech stocks now trade at attractive prices.
But not all discounted stocks are created equal, so it's important for investors to be selective. Here's one stock to buy during the recent tech sell-off, and one to sell.
Source Fool.com
