Does buying the dip really work as a stock trading strategy?

When the omicron variant started making headlines and stocks hit the skids on Nov. 26, some traders posting on Reddit’s WallStreetBets group said it was a Black Friday sale. Redditors aren’t the only ones looking to buy the dip, as the investing strategy is known. The chance to buy stocks when they dip in price was the third-most-popular reason for opening a new account in 2020, according to survey by the Financial Industry Regulatory Authority (FINRA) and the National Opinion Research Center at the University of Chicago.