Shopify (NYSE: SHOP) was already making waves as an e-commerce enabler before 2020, but it soared to new prominence at the onset of the pandemic when billions of folks were doing their best to avoid shopping in person. Shopify was there to help and benefited from the trend. Indeed, from 2012 to 2019, Shopify's sales grew from $24 million to $1.6 billion.
Shares in these companies were trading above $300 in 2021 and they have what it takes to return to those levels in time.
Technology stocks have been hammered recently by fierce inflation, rising interest rates, and global economic impacts from the war between Russia and Ukraine. With no signs of turning the corner anytime soon, the Nasdaq Composite -- which has already sunk 26% year to date -- could face additional pressure in the near future. Let's check out two beaten-down Nasdaq stocks that should bounce back in the long run.