2 Beaten-Down Stocks to Buy Before They Bounce Back
By newsfeedback@fool.com (Prosper Junior Bakiny)
Read original article on Motley FoolShopify (NASDAQ:SHOP) and Intuitive Surgical (NASDAQ:ISRG) were considered market darlings for a long time, but in recent years, they have faced significant headwinds that have threatened their status. Both stocks have dropped substantially this year. Shopify is down 19% while Intuitive Surgical has declined 29%. However, there are reasons to remain bullish on both stocks and to buy the dip before they rebound. Let me explain.
Image source: The Motley Fool.
Shopify's second-quarter results were excellent. The company's revenue came in at $3.6 billion, 34% higher than the year-ago period. The company's operating income of $488 million jumped almost 68% year over year, while its non-GAAP net income of $439 million, which excludes the impact of equity investments, grew 30% year over year. Shopify's third-quarter guidance came in ahead of analyst estimates, too.
This story was originally published on Motley Fool. DennTech aggregates headlines from top crypto publications to keep traders informed.
Read full article on Motley Fool