2 Growth Stocks Down 20% to 40% That Are Screaming Buys
Last year was absolutely brutal for growth stocks. Many lost 50%, some as much as 90%, of their value as high inflation and rising interest rates weighed on the economy. However, it seems things are changing. Some growth stocks have rebounded 10% to 50% since the start of 2023, reversing part of the losses from the last year.
Two growth stocks I believe are screaming buys right now are Airbnb (NASDAQ: ABNB) and Shopify (NYSE: SHOP). The stocks remain down 20% and 40%, respectively, over the past 12 months but are rallying quickly. Here's a closer look at each company and why these stocks are buys today.
The share price for vacation rental listing platform Airbnb was hammered in 2022 as investors became concerned that high inflation and a potential recession would slow travel spending. However, its earnings last year consistently proved the naysayers wrong. Not only has travel demand remained healthy, but the company reported absolutely incredible year-over-year growth.
Source Fool.com
