Nasdaq Bear Market: 2 Beaten-Down Growth Stocks to Buy Right Now
After turbocharged growth in 2021, the Nasdaq Composite has fallen sharply as investors have weighed concerns regarding inflation. In fact, the growth-heavy index recently fell more than 20% from its high, meaning it entered bear market territory (it's currently down about 18%). But many individual stocks have fallen much further. For instance, DocuSign (NASDAQ: DOCU) and Globant (NYSE: GLOB) have dropped 73.8% and 27%, respectively, from their all-time highs.
However, those companies play a key role in the digital transformation (DX) sector, and DX spend is expected to grow from $1.8 trillion in 2022 to $2.8 trillion by 2025, according to the International Data Corp. Better yet, shares of DocuSign and Globant look relatively cheap compared to their historical valuations, meaning investors have a chance to buy these stocks on sale.
Here's what you should know about these two beaten-down growth stocks.
Source Fool.com
