Long-term buy-and-hold investors know that time in the market matters. The longer you can hold a stock, the better the chance it will turn into a winning, market-beating investment. Another lesson worth learning is that the price you pay for the stock also matters. Buying a fantastic company when its stock is overvalued can significantly reduce, if not prevent, shareholder gains.

Luckily, patient investors can often find great businesses trading for big discounts and use those opportunities to either add to an existing position or buy a stock for the first time. The key is to identify companies with struggling stocks showing evidence of turning things around. Here are five stocks that fit this description to buy now at a discount.

Year to date, (NYSE: SHOP) is up 104%. That might seem surprising to shareholders who bought the stock when it was near its late 2021 high, because they're still in the red -- the red as the stock is still down 58% from that peak. Shopify currently trades a price-to-sales (P/S) multiple of 14. This isn't cheap, but it's a lot closer to the company's all-time low P/S of 6 than to its historical average of 23.

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Source Fool.com