2022’s Investment Challenges: Growth Stocks Worth Considering Despite NASDAQ’s 21% Drop

Whether you’re a newbie or a pro, there are better years than 2022 if you’re interested in investing. The NASDAQ has dropped by 21%, and it’s uncertain when it will recover. Despite this, many investors are still investing heavily in growth stocks. Billionaires have been eyeing specific growth stocks that could provide a good return on investment. Here are two such stocks worth considering.

Trade Desk

The Trade Desk (TTD) has been a popular growth stock over the past few years but has faced significant challenges in 2022. Although the stock is down by 49% from its peak, some investors are still bullish on the company’s long-term prospects. One of those investors is Israel Englander, who heads the hedge fund Millennial Management.

According to recent filings, Millennial Management has been adding to its position in The Trade Desk, with over 720,000 shares purchased in the fourth quarter of 2022. This move shows Englander’s confidence in the company, even as the broader market is volatile.

The Trade Desk has a market capitalization of $27 billion and a daily trading range of $54.10 to $55. The stock has an average volume of 5,166,755 shares traded daily, which is a healthy level of liquidity for investors looking to buy or sell shares. The company also has a gross margin of 82.18%, which indicates that it can generate profits from its operations.

Despite The Trade Desk’s challenges, such as increased competition in advertising technology, the company continues to innovate and expand its offerings. The company’s CEO, Jeff Green, has stated that he believes The Trade Desk has a long runway for growth, thanks to its focus on the rapidly growing connected TV advertising market.

Doximity (DOCS)

Doximity (DOCS), a healthcare technology company, has seen its stock price fall by 67% from its 2021 highs. However, the company’s CEO, Jeffrey Tangney, remains optimistic about the company’s long-term prospects.

Tangney has been actively increasing his stake in the company, adding over 2.6 million shares in the fourth quarter of 2022. With this move, Tangney now owns over 48% of the entire establishment, demonstrating his confidence in the company’s future potential.

Doximity has a 52-week trading range of US$22.91 to US$62.52 and a daily range of US$32.50 to US$33.32. The company’s gross margin of 87.16% indicates it can generate profits from its operations.

Despite the recent decline in its stock price, Doximity has a market capitalization of $6 billion and is well-positioned to benefit from the ongoing digital transformation of the healthcare industry.

The company’s flagship product is a social network for medical professionals that allows them to connect, collaborate, and share information. The platform has over 1.8 million verified medical professionals, making it the largest professional network for healthcare providers in the United States.

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