2 Supercharged Growth Stocks That Are Set to Soar Higher in the Long Run
After a tumultuous 2022, the U.S. equity market breathed a sigh of relief in early 2023. However, this relief may be short-lived. Considering the latest inflation data (for January 2023), Federal Reserve Chairman Jerome Powell has highlighted the need for "faster tightening" of the money supply and, subsequently, higher-than-expected interest rates in the coming months.
These conditions suggest the possibility of another bear market rally, which can be quite painful for investors. However, bear markets also offer the potential to pick up strong businesses with tremendous growth prospects at relatively cheap prices.
Currently, stocks such as The Trade Desk (NASDAQ: TTD) and Splunk (NASDAQ: SPLK) are trading at a discount of around 25% and 33%, respectively, from their 52-week highs. Let's assess why these supercharged stocks could prove to be attractive bets in the long run.
Source Fool.com
