Buy on the dip. You've no doubt heard the expression plenty of times in the past. Granted, some stocks aren't good candidates to buy when they've pulled back. However, you can also often make a lot of money over the long run by buying the right beaten-down stocks.

Three Motley Fool contributors were asked to identify great growth stocks down 20% or more to buy now. Here's why they chose Beam Therapeutics (NASDAQ: BEAM), Maravai LifeSciences (NASDAQ: MRVI), and Novavax (NASDAQ: NVAX).

Keith Speights (Beam Therapeutics): Beam Therapeutics was flying high in the early part of 2021. Then the bottom fell out for it and many other biotech stocks. Beam is now down nearly 70% below its previous peak. However, I think that Beam is poised for a huge rebound. 

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Source Fool.com