Nasdaq Correction: Why I Took Advantage of a 20% Sell-Off to Buy More of This "Magnificent Seven" Stock.
The Nasdaq has hit some turbulence this year. It's currently down more than 10% from its recent peak, which puts it in correction territory. Some stocks have sold off even more. I actually like it when the market takes a breather because it allows me to buy some high-quality stocks at much better prices. I recently did just that, buying more shares of technology titan Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL). Here's why I couldn't resist the opportunity to buy more shares of this "Magnificent Seven" stock, which has tumbled 20% from its recent peak. Alphabet is one of seven leading tech companies dubbed the Magnificent Seven due to their strong growth prospects and stock price performance in recent years. Even with the recent decline, Alphabet shares are up more than 150% over the past five years, easily outperforming the S&P 500 (more than 90% gain). Continue reading
The Nasdaq has hit some turbulence this year. It's currently down more than 10% from its recent peak, which puts it in correction territory. Some stocks have sold off even more.
I actually like it when the market takes a breather because it allows me to buy some high-quality stocks at much better prices. I recently did just that, buying more shares of technology titan Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL). Here's why I couldn't resist the opportunity to buy more shares of this "Magnificent Seven" stock, which has tumbled 20% from its recent peak.
Alphabet is one of seven leading tech companies dubbed the Magnificent Seven due to their strong growth prospects and stock price performance in recent years. Even with the recent decline, Alphabet shares are up more than 150% over the past five years, easily outperforming the S&P 500 (more than 90% gain).
