The stock market has been in the red since the beginning of 2022, with indices such as the S&P 500, Nasdaq 100 and Dow down 13.31%, 23.15% and 9.22%, respectively.
Prominent billionaire Warren Buffett often advises investors to buy good stocks when they are losing and fear when others are greedy.
We've selected well-positioned companies for future growth, but their stock prices have fallen sharply so far this year.
Pinterest, Inc.
Through videos, product and concept Pins, California-based visual discovery platform Pinterest, Inc. enables users to explore home, lifestyle and fashion inspiration. Shares of Pinterest, Inc. fell more than 44%, making it an excellent buy-on-the-dip growth option because it's a great medium for bloggers, marketers, and influencers to connect with their audiences.
Pinterest, Inc. released its first-quarter results on April 27. Earnings per share came in at $0.10, beating consensus estimates by $0.07. Revenue rose 18.48% annually to $574.89 million, beating Street's forecast by $2.24 million.
Rivian Automotive
Shares of Rivian Automotive, Inc. have fallen about 70% through May, but the company remains one of the strongest growth opportunities in the electric vehicle market. The company sells electric sport SUVs and pickup trucks.
Rivian Automotive, Inc. CEO Robert Scaringe purchased 41,000 shares of common stock for $1.06 million in May. The cost per unit is $25.7772.
Block Company
Block, Inc. is a California-based company focused on financial services and electronic payments. In the first quarter of 2022, Block, Inc.'s 84 hedge funds were positive with a combined holdings of $6.18 billion, compared to 96 hedge funds with a combined holdings of $5.95 billion in the previous quarter. While the stock has fallen sharply so far this year, Block remains a noteworthy stock to buy as cashless platforms are the future.
Meta Platform Company
Shares of Meta Platforms, Inc. are down 42.63% so far this year. In April, the company reported first-quarter earnings of $2.73 per share, beating consensus estimates by $0.21. Although revenue was $27.91 billion, up 6.64% year over year, it still missed analysts' expectations of $314 million. With a growing market share and multiple acquisitions, Meta Platforms, Inc. is one of the top companies in the IT industry and a significant growth company worth acquiring at a low price.
Sealimited
Shares in Sea Limited, a well-known name in digital commerce and interactive entertainment, have fallen 63.15% year to date. As a result, Sea Limited ranks among the top of the buy-the-dip list. Revenue in the first quarter was $2.9 billion, $41.18 million more than expected.
Tesla Inc
U.S. electric car giant Tesla Inc is down more than 37% so far this year. However, demand for electric vehicles is expected to increase sharply as the government pushes to reduce carbon emissions. A growing number of people and companies worry about global warming, making Tesla Inc. one of the best growth companies to buy right now.
Tesla Inc released its financial results for the first quarter of 2022 on April 20. The company reported EPS of $3.22, beating the median estimate by $0.95. Revenue was $18.76 billion, an increase of 80.54% year-over-year, beating analyst expectations of $917.76 million.
