2 Red-Hot Growth Stocks to Buy in 2022 and Beyond
Many of the growth stocks that saw massive price increases in 2020 and most of 2021 have been devastated by the bear market in 2022. Some of the highest flyers have seen most of their value wiped out amid the selling.
What investors need to understand is that the significant pain of the declines for some of these stocks is likely be temporary. As the growth returns, these companies are setting the stage for an eventual recovery. It's the continued growth of companies like DigitalOcean (NYSE: DOCN) and DraftKings (NASDAQ: DKNG) that will get investors back and fuel further stock price growth. Let's find out a bit more about these two growth stocks and why 2022 offers a buying opportunity.
DigitalOcean has prospered in the cloud computing sector by targeting a specific niche. Instead of focusing on larger cloud customers the way Amazon Web Services does, DigitalOcean specializes in cloud services for small and medium-sized businesses. The company with a trailing 12-month revenue of $462 million currently values its addressable market at $72 billion, and believes it can grow revenue at a compound annual growth rate of 27% through 2025.
Source Fool.com
