Bargain Hunters: These 3 Growth Stocks Haven't Been This Cheap in Years. Here's Why They Could Be Good Contrarian Buys
These stocks aren't as bad as they look to be at first glance, and they have the potential to generate terrific returns in the long run.
Bargain Hunters: These 3 Growth Stocks Haven't Been This Cheap in Years. Here's Why They Could Be Good Contrarian Buys
Overview
Investing in stocks that have been doing poorly can seem risky. But if those stocks have strong underlying fundamentals, they can turn out to be attractive contrarian investments to buy and hold. Think of it as buying in a bear market. You might be scared to do so as you see stock prices go down, and the temptation is to think they'll keep going down. However, buying at extremely low prices can set you up for significant gains in the future -- as long as the business is in good shape.
Three stocks I think could be enticing contrarian buys today are Adobe (NASDAQ: ADBE), Chewy (NYSE: CHWY), and Duolingo (NASDAQ: DUOL). Their share prices haven't been this low in years, and while there is some risk with them these days, here's why they could prove to be excellent buys for the long haul.
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Originally published at www.fool.com.
