Many beaten-down growth stocks are beginning to look attractive, and a calendar flip to 2023 could boost these stocks. While the calendar-year change doesn't signify anything different, it does change how some money managers act, and if they think growth stocks will be in style during 2023, then these stocks will be snapped up early in 2023. Two stocks that I think are fantastic buys in 2022 and beyond are Snowflake (NYSE: SNOW) and Adyen (ENXTAM: ADYEN).
After falling for much of the week, the major stock market indexes were gaining ground early Thursday as investors digested the latest unemployment numbers. Last week's initial jobless claims suggest the Federal Reserve's campaign to combat inflation may finally be bearing fruit. Investors used that positive development as an excuse to buy up their favorite beaten-down tech stocks.
In this video, I will review Snowflake's (NYSE: SNOW) third-quarter earnings results and determine if the figures make the stock a buy. *Stock prices used were the afternoon prices of Dec. 5, 2022. The video was published on Dec.