This Under-the-Radar Growth Stock Is Down 30% From Its High but It's a Stock to Buy on the Dip
Shares of closeout retail chain Ollie's Bargain Outlet (NASDAQ: OLLI) have outperformed the S&P 500 since its market debut in 2015. But financial results slipped roughly a year after the pandemic began and the stock tumbled. From the start of 2021 through the end of 2022, Ollie's stock was down 43%.
Ollie's slump lasted long enough for investors to forget about its market-beating history. Many lost interest in the business and moved on to flashier things. Now under the radar, the company just completed a comeback year and has set high expectations for the future.
Ollie's stock is still sitting about 30% below its high reached back in 2020. And I believe it's a sneaky stock to buy on this prolonged dip, as I'll explain here.
Source Fool.com
