2022 was admittedly a tough year for growth stocks, with the technology-heavy NASDAQ Composite Index losing a third of its value.
Investors lost their appetite for this category of stocks as interest rates surged amid an environment of high inflation.
This year, however, has seen improved sentiment thus far.
The NASDAQ Composite Index has surged by 16.2% year to date, lifting the valuation and share prices of a wide swath of growth stocks.
What’s more, some businesses have also witnessed a strong turnaround as they adjust to difficult conditions.
We feature four US growth stocks that have more than doubled from their 52-week lows, and also take a look at whether their run can continue.
Shopify (NYSE: SHOP)
Shopify is an e-commerce company that provides the tools, platform and infrastructure for business owners to start, market, and run their retail businesses.
The company’s platform powers businesses in more than 175 countries and counts blue-chip brands such...