Shares of Pro Medicus Ltd (ASX: PME) plummeted 5.86% in Friday's trading session, as growth stocks continue to face selling pressure in the market. The sharp decline comes amid a broader correction affecting high-flying growth names across various sectors.
The selloff in Pro Medicus aligns with a trend observed in other quality growth stocks, which have shed 10% to 30% in recent weeks. Market experts suggest that while such corrections can be unsettling for investors, it's crucial to stay focused on company fundamentals rather than making emotional decisions based solely on price movements.
Despite the current downturn, some investors see potential opportunities in Pro Medicus. Adam Dawes, Senior Investment Adviser at Shaw & Partners, noted, "We took advantage of weakness in Pro Medicus – longer term, the global imaging opportunity remains intact." This perspective highlights the importance of maintaining a long-term view on high-quality growth companies, even during periods of market volatility.
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