TNDM - 2 Beaten-Down Growth Stocks to Buy in April
2023-04-20 09:45:00 ET
After last year's tumble, the stock market is performing much better in 2023. That fits a historical pattern according to which downturns typically last only 10 months and rarely happen two years in a row. So investors can likely look forward to more decent performance for equities, at least in the short run.
Even so, some companies haven't been performing as well as the rest of the broader market since the year started. But a few of them could be excellent long-term stocks to buy on the dip. Let's look at two examples: Axsome Therapeutics (NASDAQ: AXSM) and Tandem Diabetes Care (NASDAQ: TNDM) .
Shares of Axsome Therapeutics are down by 7% this year after doubling in 2022. It is true that several of the drugmaker's catalysts are now in the rear-view mirror. Most notably, gaining regulatory approval for depression medicine Auvelity in August was a significant milestone. However, Axsome should still make further meaningful clinical and regulatory progress this year, which often helps biotech stocks soar. And more importantly, the company's long-term prospects are attractive.
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2 Beaten-Down Growth Stocks to Buy in April