With high inflation and the Federal Reserve's interest rate hikes spooking the market , 2022 hasn't been the best year for growth stocks. That said, the bear market has created plenty of chances for investors to pick up shares of top-quality companies at a discount. Let's discuss why Global E Online (NASDAQ: GLBE) and Luckin Coffee (OTC: LKNC.Y) could help turbocharge your investment portfolio.
Down by 68% year to date, Global E Online hasn't escaped the impacts of the 2022 bear market, which hit the tech sector particularly hard. Like many e-commerce companies, it now faces post-COVID investor pessimism. But that shouldn't overshadow its rapid growth rate and strengthening economic moat in the industry.
Global E operates a platform designed to facilitate cross-border digital sales and fulfillment. It helps companies sell their goods in foreign markets by providing services like regulatory compliance, import compliance, and currency conversion. There has proven to be a big market for these services. In the third quarter, Global E's sales increased by 79% to $105.6 billion as it onboarded new clients such as Rag & Bone, The Wimbledon Online Shop, and Zenith, a luxury watch brand owned by LVMH Group .
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