3 Surprisingly Safe Growth Stocks to Survive the Summertime Swoon
Turbulence has continued to roil the markets early in the summer season, and stocks with growth-dependent valuations have been particularly hard hit. The growth-heavy Nasdaq Composite index is now down roughly 8% since the beginning of June, and it's possible that more volatility is coming down the pipeline.
With inflation still running hot, the Federal Reserve serving up its highest interest rate hikes in decades, and the possibility the economy will enter recession in the near future, it's little wonder investors are feeling exhausted. However, despite the challenging conditions at hand, it would also be a big mistake to treat all growth stocks as radioactive. Read on to see why a panel of Motley Fool contributors thinks these three stocks will help you beat the summertime blues and score big wins over the long term.
Keith Noonan: The travel industry is bouncing back in a big way this year, but that hasn't prevented Airbnb (NASDAQ: ABNB) from suffering as prices for growth stocks have collapsed. Despite a dramatic valuation slide, the company has been serving up strong business performance, and I think investors will benefit by building a position in this unfairly punished innovator.
Source Fool.com