Nasdaq Bear Market: 2 Remarkable Growth Stocks Down 75% and 86% to Buy in March and Hold Forever
High inflation and rising interest rates pulled the Nasdaq Composite into a bear market last year, and the technology-heavy index is still 27% off its high. That drawdown wiped away trillions of dollars in wealth, but it has also created a buying opportunity for patient investors. To quote Warren Buffett, "The best chance to deploy capital is when things are going down."
With that in mind, shares of Roku (NASDAQ: ROKU) and PayPal Holdings (NASDAQ: PYPL) are down 86% and 75%, respectively, but the future still looks bright for both businesses. Here's why these growth stocks are worth buying today.
Roku reported disappointing financial results last year. Revenue increased just 13% to $3.1 billion and cash flow from operating activities dropped 95% to $11.8 million. But that dismal performance can be traced back to temporary economic headwinds. Specifically, many brands reduced their ad budgets to compensate for the decline in consumer spending brought on by high inflation. That situation should resolve itself in time, though, and Roku is well positioned to reaccelerate growth when that happens.
Source Fool.com
