Down 61% to 71%, These Colossal Growth Stocks Could Be Ready for a Surge
It's no secret that growth stocks have taken it on the chin this year. Decades-high inflation has prompted the U.S. Federal Reserve to aggressively raise interest rates, bringing the current benchmark rate to between 3.75% and 4%. Sentiment has sunk as investors fret over companies' ability to keep growing as the era of cheap money dries up. The pessimism has led to an all-round plunge in valuations and share prices.
There's a silver lining, though. Many companies are still growing at a healthy clip and continuously improving their product or service offerings. With beaten-down valuations and rock-bottom share prices, it has opened up a golden opportunity for investors to scoop up shares of well-run companies on the cheap. And when the economic weakness passes and inflation is brought under control, these stocks will be well-positioned to surge ahead of the competition.
The three following stocks may have seen their share price cut by more than half in the year to date, but they have attributes that should position them for a strong rebound soon.
Source Fool.com
