3 Tumbling Growth Stocks Worth Buying on the Dip
Nasdaq As the old saying goes, the stock market is a staircase up and an elevator down. In plainer terms, gains tend to compound gradually over time, while sell-offs can happen in a heartbeat.
That's certainly been the case for Johnson Controls (NYSE: JCI), Li-Cycle Holdings (NYSE: LICY), and Enphase Energy (NASDAQ: ENPH) which are down 14.1%, 25%, and 15.3%, respectively, in the past month.
Despite the sell-off, all three companies are chock-full of long-term potential. Here's why each growth stock is worth buying now.
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Management deserves the benefit of the doubt
Lee Samaha (Johnson Controls): The long-term future for Johnson Controls looks bright. The heating, ventilation, air conditioning, building controls, and fire and security products company helps increase building efficiency, which is important since buildings are major emitters of carbon dioxide. Meeting net-zero commitments is a goal this company can help others reach.