Investing in beaten-down growth stocks that are fundamentally strong is a proven strategy to build long-term wealth. Typically, growth stocks deliver outsized gains during bull runs and underperform significantly when sentiment turns bearish. However, a steep pullback in valuations allows long-term investors to buy the dip and benefit from outsized gains over time. Here is one such magnificent TSX stock down over 50% that you can buy and hold forever. Let’s see why.
Is this TSX stock a good buy?
Valued at a market cap of $227 million, Profound Medical (TSX:PRN) develops MRI-guided therapeutic systems for incision-free ablation of diseased tissue. Its flagship TULSA-PRO system treats prostate disease with robotically driven ultrasound, while Sonalleve treats conditions including uterine fibroids and bone metastases.
During an investor event last month, Profound Medical highlighted its TULSA-PRO technology, positioning the company…
