Marvell Technology: The Stock Is Down 39% From Its High. Time to Buy the Dip? (NASDAQ: MRVL)
Marvell Technology stock got a non-business-related boost at the start of June, but the power of that bullish projection has faded.
Overview
Marvell Technology (NASDAQ: MRVL) shareholders have been on quite the roller-coaster ride this year. If you bought shares on Jan. 2 (the market was closed on Jan. 1) and only checked your position now, you're up more than 120%, and you're probably pretty happy with that result. But if you've paid a bit more attention, you may have noticed that the stock has heavily sold off recently and is down 38% from its all-time high. The question investors are asking is whether now is the time to buy the dip or if this sell-off was warranted.
I think examining the reason behind its initial rise will give investors clues as to whether the sell-off was warranted (and I think the answer is likely a resounding yes).
Image source: The Motley Fool.
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Originally published at www.fool.com.