The novel coronavirus and the COVID-19 pandemic have raised a lot of fear and uncertainty in society and driven the stock market into bear territory. Nonetheless, I remain bullish on growth stocks for 2020, particularly at these prices. For those of us who remain optimistic about the market, some magnificent stocks are on sale right now. These seven stocks are on my buy list.
1. Roku (down 35% in 2020)
Sometimes fear makes us irrational, and the sell-off in Roku (NASDAQ:ROKU) reflects that. As a stay-at-home stock, Roku should be up in this environment, not down. Video streaming is a great long-term investment, one that should see a short-term upsurge as people stay indoors because of COVID-19. People will be using Roku’s service more over the next few months, not less. And yet the stock is dramatically on sale right now. This one seems like a no-brainer to me.
2. SmileDirectClub (down 55% in 2020)
SmileDirectClub (NASDAQ:SDC) has been a battleground stock ever since its broken IPO. To be sure, given a price that’s currently near $4 a share, there aren’t a lot of investors sitting on positive returns. That said, the stock was priced at $15 a share a little over a month ago; the COVID-19 sell-off has been brutal for this company, which doesn’t make a lot of sense. SmileDirectClub, like Teladoc, is a telehealth stock. Virtual healthcare is right in its wheelhouse. Granted, getting your teeth straightened is an elective sort of healthcare, and sales might suffer in the near term. But the long-term outlook remains very bright.
Continue reading at The Motley Fool for the rest of the Top 7 Stocks to Buy for March’s Market Crash!