Instead of heading for the sideline, Form 13F filings with the Securities and Exchange Commission (SEC) show that most billionaire money managers were active buyers during the first half of the year. What's particularly interesting is that select billionaires have been piling into some of Wall Street's most beaten-down growth stocks. The following three supercharged growth stocks are down as much as 94%, yet billionaires can't stop buying shares of them.
This identity and authentication company began this year by losing its customers' and investors' trust.
The markets are seeing heightened volatility in the past few months as the Federal Reserve hikes interest rates to tackle runaway inflation. With the NASDAQ Composite Index and S&P 500 already in a bear market this year, stock prices may have room to fall further. You should see a market correction as a golden opportunity to either accumulate more shares of companies you already own or to start a new position in a company that's become much cheaper.