The Nasdaq Composite Index fell approximately 1.7% on Tuesday, following a 4% drop last Friday, as investors began to take profits from rapidly rising tech stocks, particularly in AI and semiconductor sectors. This selloff comes after a significant surge, with the iShares Semiconductor ETF (SOXX) gaining around 95% from March 30 to June 4, reaching its most overbought RSI level in 20 years at 87.
This downturn has reverted the Nasdaq to near its 50-day and 10-week moving averages, erasing about a month’s worth of gains. Despite the selloff, projections indicate growth for all 16 Zacks sectors in 2026, suggesting potential market recovery in the face of current volatility.
For investors looking to capitalize on lower stock prices, Aveanna Healthcare Holdings Inc. (AVAH), currently trading around $6.88, is highlighted for its strong growth potential, with a projected 51% upside based on average price targets. The company has increased its revenue consistently, serving approximately 80,000 patients across nearly 40 states.
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