It’s been nothing short of a wild ride for investors since this decade began. Wall Street’s major stock indexes have traded off bear and bull markets on a couple of occasions over the past four years.
Though 2023 represented a veritable running of the bulls, the Nasdaq Composite (NASDAQINDEX: ^IXIC) has, to some degree, been left behind by its peers. Whereas the Dow Jones Industrial Average and S&P 500 have ascended to new highs, the Nasdaq Composite closed out Feb. 15 about 1% below its record-closing high set in November 2021.
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To some investors, the Nasdaq’s inability to put its 2022 bear market blues fully in the rearview mirror suggests a lost two years for growth stocks. But for long-term-minded investors with cash at the ready, any notable downturn in the Nasdaq represents an opportunity to buy stakes in high-quality, fast-paced businesses at a perceived discount.
What follows are four electrifying growth stocks you’ll regret not buying in the wake of the Nasdaq bear market dip.
PayPal Holdings
The first spectacular growth stock you’ll be kicking yourself for not picking up with the Nasdaq Composite still struggling to put the 2022 bear market in the back seat is none other than fintech leader PayPal Holdings (NASDAQ: PYPL). Despite increasing competition in the digital payments space, PayPal has the necessary catalysts to make its long-term shareholders notably richer.
For starters, investors should understand that there’s room for more than one winner in the digital payments space. Based on estimates from Boston Consulting Group, annual fintech revenue can grow by a factor of six to $1.5 trillion by the turn of the decade. PayPal is leading that charge.
While it’s been disappointing to see active account growth stymied — active accounts fell 2% in 2023 from the prior-year period — the key performance indicators that matter most are headed in the right direction. Total payment volume traversing PayPal’s platforms grew by 12% on a constant-currency basis to $1.53 trillion in 2023.
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