Bear Market Bargains: 2 Growth Stocks Down 58% (or More) to Buy Now
After weathering a rough April, many investors were hoping for a reprieve. But the market downturn has accelerated in May, fueled by the Federal Reserve's decision to raise interest rates by a half percentage point, its most aggressive rate hike since 2000. As a result, the Nasdaq Composite has slipped deeper into bear market territory, and the growth stock-loaded index is now about 27.3% off its 52-week high.
Many individual stocks have been hit even harder. Shares of Shopify (NYSE: SHOP) and HubSpot (NYSE: HUBS) are down 78% and 58%, respectively. Those sell-offs hurt in the short term (Shopify is one of my largest holdings), but they also create buying opportunities.
Here's what you should know about these two bear market bargains.
Source Fool.com
