This Stock Dropped After Earnings. But It's Now a Top Growth Stock to Buy in 2024.

Selling an assortment of products that appeal to teens and preteens, Five Below (NASDAQ: FIVE) is a retail concept that's gaining ground across the country. But you wouldn't know that from investors' reaction after the company reported full-year financial results for 2023. After the report dropped, Five Below stock itself dropped by 15%.

Five Below shareholders are used to pullbacks. Since the company went public in 2012, it's fallen 15% or more quite a few times, as the chart below shows. For patient investors with a long-term focus, these pullbacks are great opportunities. Five Below is fast-growing, profitable, and has large aspirations that can turn this into a solid contributor to any stock portfolio.