DOCN - 2 Beaten-Down Stocks to Buy Right Now
2024-07-10 05:45:00 ET
While the major stock market indices have surged to start 2024, some stocks have taken a beating over the past few years. Cloud computing provider DigitalOcean (NYSE: DOCN) and entertainment juggernaut Walt Disney (NYSE: DIS) have disappointed investors, with both stocks down at least 50% from their peaks.
While both companies are facing challenges, there are some good reasons to buy the stocks at beaten-down levels.
Since peaking during the pandemic, shares of DigitalOcean have tumbled nearly 75%. The cloud computing provider's growth slowed as customers pulled back on spending. Acquisitions, including managed hosting provider Cloudways , brought on high-value customers, but overall growth has remained sluggish into 2024.
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2 Beaten-Down Stocks to Buy Right Now