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Investing in an underperforming growth stock can be a great move for long-term investors. If a stock is trading at a low earnings multiple and there aren't serious issues with the underlying business, it can be a sign that the market may have overreacted to company or even industry-related developments.
It's these types of opportunities that can lead to significant gains down the road for investors who are willing to be patient and hang on. Three growth stocks trading below $100 that I believe are great buys right now are Netflix (NASDAQ:NFLX), Uber Technologies (NYSE:UBER), and Novo Nordisk (NYSE:NVO).
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Streaming giant Netflix has been struggling this year, amid questions about its future growth. The company is still generating double-digit growth, but with growing competition in the video streaming industry, the market appears less convinced of Netflix's future success.