While the major stock market indices have surged to start 2024, some stocks have taken a beating over the past few years. Cloud computing provider DigitalOcean (NYSE: DOCN) and entertainment juggernaut Walt Disney (NYSE: DIS) have disappointed investors, with both stocks down at least 50% from their peaks.

While both companies are facing challenges, there are some good reasons to buy the stocks at beaten-down levels.

Since peaking during the pandemic, shares of DigitalOcean have tumbled nearly 75%. The cloud computing provider's growth slowed as customers pulled back on spending. Acquisitions, including managed hosting provider Cloudways, brought on high-value customers, but overall growth has remained sluggish into 2024.

Continue reading

Source Fool.com