3 Beaten-Down Growth Stocks to Buy Right Now
The S&P 500 index just posted its worst performance during the first half of the year since 1970, dropping 20.6%. While this sent many short-term investors running for the hills, long-term investors realize that buying high-quality businesses at these depressed prices can be an opportunity of a lifetime.
Therefore, if you're looking to find some bargains, look no further than Etsy (NASDAQ: ETSY), Atlassian (NASDAQ: TEAM), and DigitalOcean Holdings (NYSE: DOCN). These three high-quality companies have stocks trading down between 44% and 60% year to date, which could be a buying opportunity. Let's find out a bit more about these beaten-down stocks.
Etsy's stock price has dropped almost 60% since the start of 2022. This e-commerce site for handmade goods saw a lot of business during COVID-19 as it became the hub for creative virus-protection mask purchases, but even as the demand for masks faded, Etsy continued to deliver steady results. In the first quarter of 2022, for example, Etsy saw revenue reach $579.3 million, which increased even compared to a stellar year-ago quarter.
Source Fool.com
