Top 2 Growth Stocks to Watch During the Nasdaq Correction

The recent market adjustment on Nasdaq sheds light on the potential for growth in Remitly and Coupang.

The Nasdaq 100 Index has fallen by 13.2%, marking its official entry into a correction phase. Though market volatility may cause concern among investors, there are high-growth stocks that appear promising.

Remitly experienced a 27% decline in its stock value. It is making headway in the market by providing lower fees and a user-friendly mobile platform that sets it apart from the competition. In the recent quarter, revenue surged by 33%, reaching $352 million compared to the same period last year. While the company has yet to achieve profitability, its solid unit economics and growing customer base indicate promising prospects for growth and success.

South Korea’s top e-commerce platform, Coupang, is showing strength, with revenue reaching $30 billion by 2024—a 29% increase from before. Apart from shopping services, they are venturing into food delivery services and luxury shopping experiences, too. This expansion is gearing Coupang up for growth over the long haul.

Despite the drop in stock prices, these companies continue to hold strong positions in their respective industries. Investors who are looking at long-term prospects may find the current valuations attractive as the overall market experiences ups and downs.