CRON - 1 Growth Stock to Buy in 2023 and 1 to Avoid at all Costs
Growth stocks were hit particularly hard in the downturn equity markets experienced last year. Considering the market is far from fully recovered, there are still plenty of growth-oriented companies trading at much lower levels than they were a year ago. But while some of these stocks are worth investing in, others are best left alone, given their questionable prospects. Let's consider two growth stocks, one in each category: Netflix (NASDAQ: NFLX) and Cronos Group (NASDAQ: CRON) . Here is why the former is a buy right now, while the latter isn't worth the trouble.
Last year, Netflix's stock was battered and bruised as the company faced increasing competition and slower (sometimes non-existent) use growth. But the streaming specialist is doing well this year, with shares up by 24%. The broader market rebound is undoubtedly helping, but the company's fourth-quarter results helped, too.
Netflix grew its revenue by 1.9% year over year -- or 10% in constant currency -- to $7.9 billion. Also, the company added 7.66 million new net accounts, bringing its total to 230.75 million, up 4% compared to the year-ago period. Netflix may or may not keep its momentum for the rest of the year, but for long-term investors, there is much to be excited about.
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1 Growth Stock to Buy in 2023, and 1 to Avoid at all Costs