2 Beaten-Down Growth Stocks to Load Up on for the Long Haul
Investing in stock at a time when it's in the midst of a free fall can be incredibly dangerous. But, if you're a long-term investor, it can be a move that pays off and that could potentially lead to some significant returns later on. Two examples of stocks that are intriguing in their long-term prospects include cannabis producer Jushi Holdings (OTC: JUSHF) and fintech company PayPal Holdings (NASDAQ: PYPL).
While the S&P 500 has been having a rough year, down more than 20% in 2022, these stocks have already lost more than half of their values. However, here's why they could offer plenty of upside for investors in the long run and may be worth adding to your portfolio today.
The cannabis industry is a tumultuous and confusing one to invest in. Even though marijuana is legal in some states for recreational use, it's still banned federally. And while some executives may have believed that federal legalization was imminent, the reality is that there's no certainty of when it might happen. But the potential is certainly there: Fortune Business Insights projects that the global marijuana industry will grow at a compound annual growth rate (CAGR) of more than 32% between now and the end of 2028 when it will be worth $198 billion. You'll be hard-pressed to find many more attractive growth industries in their early stages.
Source Fool.com
