ASAN - 2 Growth Stocks Down 75% or More to Buy Now and Hold
Once darlings of the U.S. equity market, many growth stocks have been witnessing dramatic corrections in the past few months driven by rising inflation and the interest rate hikes initiated to slow it. In March 2022, the Consumer Price Index rose year over year by 8.5%, the highest surge in the last four decades. If the Federal Reserve now responds with a sudden jump in interest rates, it can prove quite damaging for the stock market, at least in the short run.
This time of uncertainty, however, can also prove to be an opportunity for retail investors. Many fundamentally strong stocks with solid competitive advantages and improving financials have cratered unjustifiably.
Asana (NYSE: ASAN) and Affirm Holdings (NASDAQ: AFRM) are two such high-quality beaten-down stocks where the sell-off now seems quite unjustified. Here's why it would make sense for retail investors to buy these stocks this month.
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2 Growth Stocks Down 75% or More to Buy Now and Hold