There’s little denying that 2022 has been a difficult year for growth stocks so far. Higher interest rates, recession worries, and inflated values during the epidemic conspired to drive the Vanguard Growth ETF stocks down 34%, worse than the S&P 500’s 24% drop.
Here are three stocks that seem to be very promising today.
Best Growth Stocks to Buy Right Now
1. Airbnb Stock: Revolutionizing the Travel Business.
A lot has changed for Airbnb ( NASDAQ:ABNB ). After the pandemic drove the home-sharing industry leader to lay off a fourth of its workers, the firm discovered financial discipline and drastically reduced its operations.
Consequently, it is now a profit engine, far from its days as a cash-burning startup. Revenue increased 58% to $2.1 billion in the most recent quarter, with a GAAP net income of $379 million and an 18% profit margin. The company’s free cash flow was $795 million, representing a 38% margin.
Aside from the remarkable recent results, there are numerous more reasons why the stock seems poised for development. The tourism business is soaring now that pandemic restrictions have been lifted, and the rebound tailwind could last at least a few more quarters. With a leading market position in home-sharing, Airbnb should be able to capitalize on many of these tailwinds and turn them into profits. It is definitely a stock to buy.
2. Pinterest Stock: An Underutilized Rebound Option
Pinterest ( NYSE:PINS ) is one of many pandemic winners that have subsequently faded. The rise in stay-at-home time boosted interest in the image-discovery engine. However, its user base dropped in the previous year after revenue growth, and the stock price plummeted.
However, there are hints that Pinterest may be on the mend. According to Sensor Tower statistics, time spent on the platform increased by 11% in August, the highest level i...
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