© Reuters. 2 Beaten-Down Growth Stocks to Scoop Up Right Now
Growth stocks are grabbing investors’ attention due to continuing economic growth thanks to fiscal and monetary stimulus. And because the market remains highly volatile now on concerns over the resurgence of COVID-19 cases, we think it could be wise to take advantage of the price dips in Cognizant (CTSH) and Incyte (NASDAQ:), which both possess solid growth attributes.The first quarter of 2021 marked the fastest economic growth in decades, which drove increased consumer spending. And the stock market has remained bullish despite analysts’ projections of a correction.
The U.S.’ real gross domestic product (GDP) increased at a 6.5% annual rate in the second quarter of 2021, indicating a continuing economic recovery. In addition, government stimulus, including tax credits and loans to businesses and the Fed’s accommodative monetary policy, are buoying investor optimism about corporate performance and earnings. As a result, the economy is expected to continue growing in the second half of 2021.
Growth stocks with stable financials are expected to benefit significantly from the economic growth. However, market volatility, triggered primarily by the resurgence of COVID-19 cases, has lately caused a price dip in quality growth stocks Cognizant Technology Solutions Corporation (NASDAQ:) and Incyte Corporation (INCY). So, we think it could be wise to bet on them right now.
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