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Growth stocks have gotten crushed across 2022’s trading. A combination of factors including rising interest rates, high inflation, weak economic performance, and geopolitical instability have driven huge sell-offs for the market at large, and company’s with forward-looking valuations have generally been hit even harder.
The technology-heavy Nasdaq Composite index is now down roughly 32% across this year’s trading, and many growth-dependent stocks are down even more from recent highs. While it’s possible that continued macroeconomic pressures could lead to more market turbulence in the near term, the big sell-offs are also presenting an opportunity for investors to build positions in top companies that will likely deliver strong returns over the long term. Read on for a look at two growth stocks that are worth buying today.
Take-Two Interactive (NASDAQ: TTWO) is one of the world’s leading developers and publishers of video games. The company is best known for its hugely successful Grand Theft Auto series, and additional franchises including NBA 2K and Red Dead Redemption combine to give it one of the strongest overall product portfolios in the industry.