The Ultimate Growth Stock to Buy With $1,000 Right Now
The and S 500 indexes both dipped into correction territory recently, meaning they fell more than 10% from their recent highs. They have recovered a bit, but the Fear and Greed index still shows the markets are fearful. Reasons include the shaky economy (despite impressive GDP growth last quarter) and the fraught geopolitical landscape.
People get spooked when the market falls. It's natural; none of us want to lose our hard-earned money. Our emotions say "stay away" since we are inclined to avoid danger. But intellectually, we understand the way to create long-term market-beating gains is to buy stocks of quality companies when others are pessimistic, and be patient. This doesn't mean we have to invest in just about any stock that is down. With a possible recession ahead, geopolitical risks, and high interest rates, I'm looking for companies in secular growth industries experiencing growing demand and soaring profits.
Few, if any, fit the mold better than Nvidia (NASDAQ: NVDA), and it looks like a great place to invest extra cash, be it $1,000 or another amount that makes sense to you.
Source Fool.com
