Bargain Shopping? 2 Growth Stocks Down 50% to 58% to Buy in 2022
The stock market has been brutal in 2022, and many investors who own tech and growth stocks have had a rough past three months. Established businesses are getting hammered, including industry leaders like Coinbase (NASDAQ: COIN) and Doximity (NYSE: DOCS).
Coinbase and Doximity are 50% and 58% off their all-time highs, respectively. But despite these falls, the companies are stronger than ever. Coinbase -- which IPOed in April 2021 -- got caught up in the cryptocurrency rise, and now that the market is falling, the company is crashing along with it. Doximity, another 2021 IPO, had a rapid rise because of its newness to the public markets, but despite strong financial results as a public company, the hype faded as newer companies went public.
However, both of these businesses are still executing, which is why you might want to consider adding these two growth stocks to your portfolio while they are cheap.
Source Fool.com
