2 Top Growth Stocks Near a 52-Week Low to Buy Now and Hold Forever
Recession fears fueled by runaway inflation and rising interest rates caused the stock market to plunge this year. The Nasdaq Composite is about 35% off its peak, which means the tech-heavy index has traveled deep into bear market territory. Many individual stocks have fallen much further. For instance, Shopify (NYSE: SHOP) and DigitalOcean Holdings (NYSE: DOCN) have lost roughly 85% and 74% of their value, respectively, putting both stocks near a 52-week low.
Losses of that magnitude can be terrifying, but the investment theses behind Shopify and DigitalOcean remain firmly intact. That makes the ongoing sell-off a buying opportunity for patient investors. Here's why.
Shopify is the market leader in e-commerce software, outranking all rivals in both market presence and user satisfaction, according to G2 Grid. That success stems from the simplicity and scope of its platform. It allows merchants to manage sales across physical and digital storefronts, including online marketplaces, social media, and direct-to-consumer websites.
Source Fool.com
