Most growth-oriented investors dream of stocks that will "set them for life." The company formerly known as Square is an enterprise that investors need to keep on their radar. Its Square ecosystem and Cash App continue to draw increased interest.
Shares of Snowflake (NYSE: SNOW), Shopify (NYSE: SHOP), and Palantir (NYSE: PLTR) each surged this week, with shares climbing 19.9%, 14.8%, and 14.8%, respectively, by the end of trading on Thursday. First, long-term bond yields fell this week, along with commodity prices. An economic slowing is actually somewhat bullish for high-growth stocks like these three since a lower long-term discount rate would benefit stocks with earnings well out into the future.
Tech stocks as a class are going through their most challenging times since the 2008-09 financial crisis. Despite painful losses over the last few months, history has shown that it pays for investors to keep their faith in the tech sector. This past-performance factor proves especially true with one of tech's more prominent names, Amazon (NASDAQ: AMZN).