Venture capitalist Marc Andreessen famously said that "software is eating the world," but this year it seems more like software is eating itself. If you're looking to "buy on weakness," two software stocks that are primed to deliver long-term growth are Okta (NASDAQ: OKTA) and Salesforce (NYSE: CRM).
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.