Parkev Tatevosian, a contributor for The Motley Fool, recommends a particular growth stock that has seen a significant price drop of 61% as a strong buy for long-term investors in 2024. This stock is poised to benefit from increased consumer spending outside the home. The specific stock is not named in the excerpt, but The Motley Fool has positions in and recommends Six Flags Entertainment, which may suggest the sector or type of company being referred to. Tatevosian has no position in the stocks mentioned and may earn compensation for promoting The Motley Fool's services.
SoFi Technologies (NASDAQ: SOFI) is highlighted as an ultimate growth stock to consider buying with $500, due to its strong performance in a growing fintech industry, effective management, and competitive edge with a user-friendly digital platform. Despite the economic pressures, SoFi has shown significant growth, with a 27% year-over-year revenue increase and a 47% increase in member signups. The company is still reporting net losses but shows promising signs with increased adjusted EBITDA and profitability in all business segments. SoFi's stock soared by 125% in 2023, and with the expectation of net profit in Q4 2023, it is suggested as a valuable investment for potential long-term gains.
A Motley Fool contributor, Parkev Tatevosian, recommends a specific growth stock that has plummeted by 79% as a strong buy for 2024, citing the company's capable management and improved profitability. Despite the stock's recent downturn, Tatevosian sees potential for a rebound and suggests that now may be an opportune time to invest. The Motley Fool has no stake in the mentioned stock, but endorses Chewy, and Tatevosian may receive compensation for promoting The Motley Fool's services.
Warren Buffett's Berkshire Hathaway owns a small but potentially promising stake in StoneCo, a Brazil-based fintech company that has seen its stock price plummet by 80% since its peak. Despite past issues with its credit business, StoneCo is showing strong financial performance and growth prospects, particularly in Brazil's large economy. With a current valuation that appears cheap relative to its business momentum and a strong balance sheet, StoneCo is suggested as a growth stock to buy in 2024 and hold for the long term, with the potential for significant returns.
Parkev Tatevosian, a contributor for The Motley Fool, recommends a cybersecurity growth stock that has significantly dropped in value, suggesting it as a strong buy for 2024. Despite the 69% decline from its peak, this stock is seen as a promising investment due to the increasing importance of cybersecurity in global business. The specific stock is not named in the provided text, but The Motley Fool is known to endorse Okta, a leader in the cybersecurity space.
A Motley Fool contributor, Parkev Tatevosian, recommends buying a particular AI growth stock that has fallen 58% but is poised for recovery due to its use of artificial intelligence to enhance user engagement. The stock's potential is underscored despite recent price drops, suggesting a valuable investment opportunity in 2024. The specific company name isn't mentioned, but the context implies it could be a tech firm like Pinterest, which The Motley Fool endorses.
A growth stock from Warren Buffett's Berkshire Hathaway portfolio has been identified by Fool.com contributor Parkev Tatevosian as a significant buy opportunity for 2024, despite being down 81%. Investors are encouraged to consider this undervalued stock for potential gains. The specific stock is not named in the provided text, but the recommendation is based on its current low price and Buffett's reputation for selecting strong investment opportunities.
