These Growth Stocks Have Dipped 70% In 2022. Here's Why They're Worth a Look
A stock that loses half of its value in a short period of time definitely comes with some inherent risks attached. So, when you see two companies that have declined by 70% (or more), caution is advised. But the present circumstances in the broader market are not typical, and that means some of these steep dips might be long-term opportunities.
The Nasdaq-100 technology index has officially entered a bear market, having plunged 26% from its all-time high set in November 2021. Rising interest rates and economic uncertainty have led investors to rein in their appetite for risk, which affects the price they're willing to pay for high-flying growth stocks.
Skillz (NYSE: SKLZ) and Unity Software (NYSE: U) operate in the fast-growing gaming industry, and their stocks have fallen 76% and 71% year to date, respectively. Both companies have their headwinds, but here's why they're worth considering for the long term.
Source Fool.com
