(NYSE: TWLO) and Unity (NYSE: U) both hit their all-time highs during the buying frenzy in growth and meme stocks in 2021. Twilio's stock surged to $443.49 that February, representing a 2,857% gain from its initial public offering (IPO) price of $15 in 2016. Unity's stock hit $201.12 that November, marking a 287% rally from its IPO price of $52 in 2020.

But today, Twilio and Unity trade at about $60 and $15, respectively. Both stocks plummeted as their growth cooled and rising rates popped their bubbly valuations. So should contrarian investors still buy either of these fallen stocks?

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Source Fool.com