Why These 3 Growing Companies Are Better Buys After the Tech Stock "Crash"
- The Motley Fool
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It's been a turbulent month if you own any technology stocks. On March 8, the Nasdaq index closed 10% below all-time highs, registering a run-of-the-mill "sell-off." However, for some high-growth names, it's felt like an all-out market crash -- with some stocks trading down 20%, 30%, or more over the last few weeks.
After the downturn, though, a long-term buying opportunity has emerged. These aren't "hold your nose and buy" names. They're growing quickly as the world enters a new digital era and are in control of their own destiny.
Three that look especially timely are Teladoc Health (NYSE:TDOC), Magnite(NASDAQ:MGNI), and Palantir(NYSE:PLTR).
It's no fun seeing your best long-term winners suddenly reverse course and start losing money, but I was downright excited when I saw shares of Teladoc trading well below $200 a share again. I started buying a few years ago when the stock was under $50 a share, and business has grown by leaps and bounds since then -- and the pandemic cemented its status as a leader of healthcare technology. 'Twas time to go shopping.