A Bull Market Is Coming: 2 Magnificent Growth Stocks Down 79% and 80% to Buy Now
Red-hot inflation threw a wrench into the gears of the global economy last year, causing the S&P 500 to nosedive into a bear market. In fact, the broad-based benchmark delivered its worst performance of the past decade in 2022, and the index is currently 21% off its high. But investors can sleep a bit easier knowing that every bear market has ended in a new bull market, and there is no reason to believe this situation is any different. That means the next bull market is almost certainly on its way.
In the meantime, many magnificent stocks are begging to be bought. For instance, Shopify (NYSE: SHOP) and Cloudflare (NYSE: NET) saw their share prices plunge 79% and 80%, respectively, from all-time highs and both stocks currently trade at sizable discounts to their historical valuations.
Shopify makes omnichannel commerce easy. Its platform supports sales across physical and digital storefronts, including online marketplaces, social media, and direct-to-consumer (DTC) websites. The company also provides adjacent merchant solutions for payment processing, marketing, financing, and many other aspects of commerce. That broad product offering has carried Shopify to the top of the industry. It ranks as the most popular e-commerce software vendor in terms of market presence and user satisfaction, according to research company G2.
Source Fool.com