There are two important things everyday investors need to remember during times like these. Shares of SoFi Technologies (NASDAQ: SOFI) have lost 64.6% of their value this year in response to rising interest rates and fear of a recession.
Spotify (NYSE: SPOT) has spent the last few years building out a podcast network and advertising platform in hopes of creating a more sustainable business. While investors haven't seen profits from those investments, there are starting to be signs of progress and as this video highlights, management thinks there's a lot of upside in Spotify's "own the ear" strategy.
Investing in growth stocks has been a painful experience for the last two years. Well before the broad market peaked at the end of 2021, many smaller software and technology stocks took a beating and are down as much as 50%, 70%, and in some cases more than 80% from all-time highs. Here's why both Spotify Technology (NYSE: SPOT) and Wix.com (NASDAQ: WIX) are once-in-a-generation buying opportunities right now.