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1 Growth Stock Down 78% That Could Drop Further: Here's Why It's a Buy Anyway

TheMotleyFool

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1 Growth Stock Down 78% That Could Drop Further: Here's Why It's a Buy Anyway: https://g.foolcdn.com/editorial/images/705400/person-working-at-a-desk.jpg

The market is still experiencing a downturn. When will it bottom out? It's nearly impossible to predict. Moreover, investors shouldn't focus on trying to time the market. Although stocks might fall even more, they will surely recover eventually. In the long run, patience will pay off way more than trying to buy stocks precisely when they hit rock bottom.

One company that could continue to experience challenging times in the near term is Shopify (NYSE: SHOP). Shares of this e-commerce specialist have dropped by 78% year to date, and it might get worse. But investors should stick with Shopify stock anyway. Here's why.