Got $5,000? These 3 Growth Stocks Are Trading Near Their 52-Week Lows
As I pointed out just a few days ago, just because a stock's been badly beaten down doesn't inherently mean it's a buy. Sometimes the market knows exactly what it's doing.
There are those times, however, where the trading crowd loses sight of the bigger picture, too distracted by near-term noise that isn't all that flattering. This is seemingly what's happened with three great growth stocks of late. Here's a closer look at all three of these stocks, each of which is not only at or near new 52-week lows but also well below highs hit within the past year.
In retrospect, it can't be too surprising that Shopify shares(NYSE: SHOP) have tumbled from their November's peak near $1,763 to their current price of $660 with a big piece of the loss taking shape just last week. The stock soared to an unsustainable price in the midst of the pandemic when a swarm of consumers and companies were going online to shop when they couldn't do so at brick-and-mortar stores. (When the coronavirus contagion first made landfall in the United States, Shopify shares were only priced around $360 apiece.)
Source Fool.com
