3 Growth Stocks Down Between 40% and 89% That Could Skyrocket

Even with some recent recovery in the market, many growth stocks are down precipitously from their highs. The growth-heavy Nasdaq Composite index is still teetering on the edge of a bear market, but for investors willing to take on potential volatility, the good news is that some very promising businesses are still trading at huge valuation discounts.

To help put investors on the trail of growth stocks capable of delivering explosive returns, a panel of Motley Fool contributors has profiled top picks trading at attractive valuation levels. Read on to see why they believe long-term investors can score big wins by investing in Advanced Micro Devices (NASDAQ: AMD), Cloudflare (NYSE: NET), and RingCentral (NYSE: RNG) at today's prices.

Daniel Foelber (Advanced Micro Devices): AMD stock is down nearly 40% from its all-time high, which is worse than the 27% decline the iShares Semiconductor ETF has endured. However, AMD continues to gobble up market share and grow its top and bottom lines at a breakneck pace while sustaining a high gross profit margin. The five-year chart says it all, as AMD's trailing-12-month revenue has more than tripled in five years, and profits have increased more than 37-fold.

Source Fool.com