MELI - A New Bull Market May Have Started: 2 Solid Growth Stocks to Buy Now and Hold Forever
2023-06-23 05:16:00 ET
The S&P 500 spent the better part of the past two years in bear market territory, but the index is up more than 20% from its October low, meaning it has crossed the threshold that some see as the beginning of another bull market. Other investors disagree. They say the S&P 500 must reach new all-time highs before the bear market officially ends, and the index is still down 8% from those levels.
The exact timing of the switch is of little real consequence to most investors. History says the S&P 500 will hit new highs at some point, and that means many stocks will soar in the future, especially as the economy regains its momentum. Investors can prepare for that inevitable outcome by purchasing shares of solid businesses like Shopify (NYSE: SHOP) and MercadoLibre (NASDAQ: MELI) . Let's look at why these two growth stocks are buy-and-hold candidates.
Shopify is a turnkey solution for omnichannel commerce. Its platform allows merchants to manage sales across physical and digital stores from a single dashboard. That includes online marketplaces like Amazon , social media like Instagram by Meta Platforms , and direct-to-consumer websites. Shopify also provides adjacent services for financing, payments, and logistics, as well as tools that simplify money management, taxes, and cross-border commerce.
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A New Bull Market May Have Started: 2 Solid Growth Stocks to Buy Now and Hold Forever