If you like to buy on sale, there is certainly no shortage of stocks to consider right now. The growth oriented Nasdaq Composite (NASDAQ INDEX: ^IXIC)
it is down more than 16% so far this year and is currently nearly 20% below its November peak. In the sense that it’s a composite of all Nasdaq-listed names, that means some of its constituent stocks have done much, much worse.
In some of those cases, however, the beatings are exaggerated. Here’s a look at three of the Nasdaq’s hardest-hit tickers poised to bounce back sooner or later, and probably sooner. what later.
MongoDB (NASDAQ:MDB) It may not be an interesting product, but that doesn’t mean it’s not an interesting company… from an investor’s perspective. Last year’s top line of $874 million was 48% better than 2020 revenue, and analysts are modeling more than 34% sales growth this year.
Image source: Getty Images.
Better yet, the database solutions company is inching toward real profitability. At the current rate, it should break out of the red sometime in 2025, or maybe even sooner if Q4 results are any indication. Investors expected a loss in the order of $0.20 per share, but MongoDB only reported a loss of $0.09 per share.