Although the markets soured on most growth stocks amid rising inflation, interest rates, and fears of an economic slowdown, it could only be a matter of time before fundamentally strong stocks rebound as investors size up their potential and realize they deserve a better valuation. Shopify (NYSE: SHOP), Salesforce (NYSE: CRM), and Nio (NYSE: NIO) are three such stocks that were battered but look like screaming buys right now for 2023. 2022 was a brutal year for Shopify.
A brutal bear market may have put some investors off stocks. The emotional pain of seeing one's assets lose considerable value was undoubtedly too much for some investors to bear. Knowing this, investors may want to consider taking advantage of discounted prices in stocks such as MercadoLibre (NASDAQ: MELI), Zscaler (NASDAQ: ZS), Snowflake (NYSE: SNOW), and Shopify (NYSE: SHOP).
The growth opportunities in Palantir, Snowflake, and Shopify could expand more than a decade into the future.