It's why the Nasdaq Composite lost a third of its value last year. Despite this turmoil, some growth stocks are expected to deliver phenomenal sales growth in 2023 -- even as their share prices come under pressure. What follows are three of the fastest-growing stocks on the planet in 2023.
When the curtain closed on 2022, the ageless Dow Jones Industrial Average, widely followed S&P 500, and growth-dependent Nasdaq Composite, respectively finished lower by 9%, 19%, and 33%. It was, collectively, the worst performance for Wall Street in 14 years. This is why most analyst price targets point to upside in equities.
Shares of clinical-stage biotech Ocugen (NASDAQ: OCGN) climbed as high as 14.2% on Thursday, to $1.29, shortly before noon. Ocugen focuses on gene and cell therapies and vaccines to treat retinal diseases, infectious diseases, and orthopedic conditions.