The Nasdaq Composite has rallied more than 11% over the last month, but the tech-heavy index is still in bear market territory, trading 21% below its all-time high. Over the past year, many high-caliber businesses have seen their share prices plunge simply because some investors have lost their appetite for growth stocks in the current macroeconomic environment. As investors calculate their best path through this bear market, here are two Nasdaq-100 growth stocks they might want to consider buying now and holding forever.
Fortinet's weak guidance causes sell-off among cybersecurity stocks, while MercadoLibre shares are rocketing higher after stellar quarterly results.
Growth stocks took a beating over the past year or so, as rising interest rates and recession fears eliminated investor risk tolerance. Nvidia (NASDAQ: NVDA) was one of the darlings of the pandemic bull market. Its price-to-sales ratio peaked close to 35, and its forward price-to-earnings (P/E) ratio swelled to 75.