2 Growth Stocks I Plan to Buy in 2022
Many growth stocks experienced an incredible 2020 as it relates to stock price appreciation, but since then these stocks have been crushed. As a result, plenty of formerly fast-growing stocks regularly set new 52-week lows, despite clear evidence of strong business execution. For example, shares of Pinterest (NYSE: PINS) and Lemonade (NYSE: LMND) are trading down 67% and 81%, respectively, from their 52-week highs. And yet both companies have growing businesses.
With the price of both stocks down so much, they are now trading at incredibly cheap multiples. If these companies can continue growing their businesses as they have in the past and maintain their strong competitive advantages, then both stocks have the potential to skyrocket.
I think both companies have what it takes to succeed. If they continue to stay cheap, I will likely load up on shares in 2022. Here's why.
Source Fool.com
