Investors looking to scoop up undervalued S&P 500 stocks are in a position to see the recent doldrums as an opportunity.
The stock market continues to be in free-fall mode after its most recent selloff pushed the S&P 500 roughly 20% below its record highs. Rising inflation and interest rates have unnerved investors, and a rebound in the stock market seems unlikely anytime soon.
“The degree of market loss this year is staggering,” said Mark Hackett, Nationwide’s chief of investment research.
It’s been a culmination of multiple macro-economic factors, including the War in Ukraine has had a debilitating effect on the stock market.
Several growth stocks, particularly those in the formerly high-flying tech industry, have taken a massive beating.
Meta Platforms(FB)
Shares of social media giantMeta Platforms (NASDAQ:FB) have sold off at a staggering pace since last year.
After losing more than 50% since the beginning of the year, those who believe in the metaverse certainly see it as among the best undervalued S&P 500 stocks to buy.
According to experts, the metaverse is no different and poised to become a multi-billion dollar sector. Meta is investing heavily in positioning itself as a leader in the nascent industry.
Additionally, its core businesses continue to grow at a healthy pace, bolstering sales at a compound annual rate of 41.30% in the past 10 years.
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