2 Growth Stocks Down More Than 50% From Their Highs That Could Be Hot Buys for 2023
The economy may be heading into a recession next year. Inflation remains around 8%, and layoffs are mounting, particularly in the tech sector. Consumers have already been tightening their budgets, and they may have to cut costs even further next year. The bearish outlook on the economy has already sent many stocks into a free fall.
Shares of GoodRx Holdings (NASDAQ: GDRX) and Netflix (NASDAQ: NFLX) are both down more than 50% off their highs. But despite their recent struggles, these are two stocks that could outperform the markets next year, and here's why.
GoodRx is a business I could see doing well amid a downturn in the economy next year, even as inflation continues to rise. That's because the company's aim is to help save people money on prescription medications. Through its coupons, consumers can reduce their costs, and they don't even need to opt for a costly membership to do so.
Source Fool.com