Investment: a thing that is worth buying because it may be profitable or useful in the future. So yes, LTC is an investment.
Yes litecoin was an investment when it's value was under $50 but now I don't think litecoin can make a better investment
Why do you think that? There is no reason that litecoin will not rise above $300 again. I think litecoin establishes exactly how bitcoin has become established. When bitcoin was at $100, only very few believed that it will continue to rise. As long as there is a community that keeps the coin alive, a lot is possible! Litecoin has dropped massively over the past few weeks, but that's about as good as any good coins. I think it was just the correction that litecoin has sunk and I think he will rise again massively in the next few weeks / months.