1 Growth Stock Down 50% to Buy Right Now

Lululemon's (NASDAQ: LULU) stock hit a record high of $511.29 on Dec. 29, 2023. That marked a whopping 5,581% gain from its split-adjusted IPO price of $9 per share in 2007, and would have turned a $20,000 investment into $1.14 million.At the time, the bulls were dazzled by the athleisure brand's rapid growth. But since it hit its all-time high, Lululemon's stock has declined nearly 50% to about $260 today. It lost its luster as its growth cooled off and rising rates compressed its valuations. That was a steep pullback, but I believe it's still a good buying opportunity for long-term investors.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool