Nasdaq Bear Market: 2 Top Growth Stocks Near a 52-Week Low to Buy Now
Economic uncertainty sent the Nasdaq Composite tumbling into a bear market this year. The tech-heavy index is currently down 35% off its high. Those losses can be scary, but investing legend Shelby Davis once said: "You make most of your money in a bear market; you just don't realize it at the time."
No one knows when the economy will improve or when the bear market will end, but both of those things will happen eventually. In the meantime, many promising growth stocks look cheap. For instance, Shopify (NYSE: SHOP) and Zoom Video Communications (NASDAQ: ZM) are trading near a 52-week low, and both stocks are worth buying.
Canadian e-commerce company Shopify lost 79% of its value over the past year. Stimulus-fueled spending gave way to softening consumer demand amid lingering inflation, and operating expenses continued to climb to support growth initiatives. That dynamic led to a disappointing third-quarter earnings report. Revenue rose just 22% to $1.4 billion, and Shopify reported a non-GAAP loss of $30 million.
Source Fool.com
