2 Nasdaq Growth Stocks Down More Than 60% I'd Buy Right Now
The Nasdaq Composite index has fallen around 31% from its peak in late 2021, and many of the growth stocks on the exchange have fallen much further. This year, the market has been especially hard on digital advertising stocks, because the rapid growth of this industry during the most stringent COVID-19-related lockdowns has subsided.
These stocks have been hammered, but that doesn't change the fact that global spending on advertising is expected to climb from $772 billion in 2021 to more than $1 trillion by 2026. Those advertising budgets are increasingly heading toward two independent players in the programmatic advertising space, The Trade Desk (NASDAQ: TTD) and PubMatic (NASDAQ: PUBM).
Despite a strong secular tailwind at their backs, shares of The Trade Desk and Pubmatic have fallen 63% and 61% respectively from peaks they reached last year. Here's why I bought these stocks already and wouldn't hesitate to buy them again.
Source Fool.com
