Celgene (NASDAQ:CELG) was a popular investment earlier this year, reaching a high of $147.17 on October 2, 2017, corresponding to a market capitalization of $116 billion. It was not in bubble territory, it was not even trading at a high P/E, considering its growth rate, yet some relatively minor news caused the stock to fall to a low of $94.55 on October 26, down 36% from its peak.
That was a buying opportunity. As the stock price rises back towards $140 (the most probable path), a key question for many investors is: at what point is it no longer a buying opportunity? I will argue that, depending of course on your risk appetite, for long-term investors, even $140 would be a buying opportunity.