You might not be thrilled with what I'm about to say, but stock market corrections and crashes are a normal part of the investing experience. On average, the broad-based S&P 500 has navigated its way through a decline of at least 10% every 1.87 years since the beginning of 1950.

However, crashes, corrections, and periods of panic also beget opportunity. Although emotions are responsible for driving the short-term movements in stock prices, it's a combination of operating earnings growth, innovation, and execution that lift the valuations of high-quality companies over the long run.

Following the recent correction in the tech-heavy Nasdaq Composite, five of the market's fastest-growing stocks -- as measured by their compound annual growth rate (CAGR) -- are now on sale. If you act quickly enough, you just might be able to secure a bargain.

An LED sign that reads, Super Sale.

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Zoom Video Communications: 5-year estimated CAGR of 40.9%

One of the top bargains that opportunistic investors can consider scooping up is leading web conferencing company Zoom Video Communications (ZM 0.82%). Since hitting an all-time closing high in October, shares of the company have declined by 39%, through this past weekend. But according to Wall Street's consensus sales projections, average annual revenue growth over the next five years should clock in at almost 41%.

While work-from-home was a big trend during the pandemic, perhaps no company benefited more than Zoom. Having the traditional workspace completely disrupted meant businesses needed to turn to technology to keep in touch and advance projects. Based on data from Statista and Datanzyne in April 2020, it was Zoom that became the default web conferencing platform. In the U.S., it controlled close to 43% of web-conferencing share, which was 24 percentage points higher than its next-closest competitor.

What really stood out in Zoom's breakout year was how well the service resonated with businesses of all sizes. In particular, the company's freemium model drew in a number of small and medium-sized businesses, and ultimately hooked them on upgrading to a paid service. Even when workers return to the office, Zoom's conferencing services aren't going anywhere.

An elderly patient conducting a virtual visit with a physician using a laptop.

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Teladoc Health: 5-year estimated CAGR of 39.2%

If healthcare stocks are more your thing, you could pile into Teladoc Health (TDOC 1.83%), which has shed 33% of its value over the last month. According to Wall Street, Teladoc is on pace to generate average annual revenue growth of 39% over the next five years.

Similar to Zoom, Teladoc was a logical beneficiary of the pandemic. With physicians wanting to keep at-risk people and potentially infected patients out of their offices, they turned to telehealth services. Last year, Teladoc handled 10.59 million virtual visits, which was up 156% from the 4.14 million handled in 2019. 

Though worries persist that growth could slow in a post-pandemic environment, this is highly unlikely. That's because the value of telehealth is too massive to ignore. It's much more convenient for patients, allows physicians to keep closer tabs on patients with chronic health conditions, and is generally billed cheaper than office visits. This last part makes telehealth a favorite among insurers.

Further, with Teladoc acquiring the leading applied health signals company Livongo Health in early November, it now has multiple ways to take advantage of treatment convenience and personalization.

Clear jars on a dispensary countertop that have been packed with unique strains of cannabis buds.

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Jushi Holdings: 4-year estimated CAGR of 62.6%

Bargain-hunting growth investors can also find value among marijuana stocks. In particular, small-cap U.S. multistate operator Jushi Holdings (JUSHF -0.23%) has lost 18% of its value since hitting an all-time closing high, but is expected to deliver a CAGR over the next four years of close to 63%.

While fast growth is commonplace in the cannabis industry, Jushi's approach is fairly unique. The company is predominantly focused on three states: Pennsylvania, Illinois, and Virginia. The former two limit the number of dispensary licenses they'll issue, whereas Virginia dispenses retail licenses based on jurisdiction. The point being that Jushi is active in states where competition will be limited, or even nonexistent. That'll give the company a good shot to build up its brands and develop rapport with cannabis consumers.

Another interesting aspect about Jushi that I've previously covered is the involvement of management. It's perfectly normal for insiders and executives to trumpet the prospects of their company. It's not nearly as common for these insiders to put their money where their mouths are. For Jushi, approximately $45 million of the first $250 million in capital raised came from its execs and insiders. Businesses where leadership has skin in the game tend to do really well over the long run.

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CrowdStrike Holdings: 4-year estimated CAGR of 45.4%

Cybersecurity solutions provider CrowdStrike Holdings (CRWD 3.59%) is another top-tier growth stock that can be purchased at a discount. Shares of the company have slid 18% since hitting an all-time high last month, yet its four-year CAGR is expected to surpass 45%, per Wall Street's consensus.

Cybersecurity was already a hot industry prior to the pandemic. But with offices closed, the onus of protecting enterprise and consumer data in the cloud has more frequently fallen to third-party providers like CrowdStrike. The company's cloud-native platform, Falcon, oversees more than 3 trillion events each week and relies on artificial intelligence (AI) to become more efficient at identifying and responding to threats. In many ways, CrowdStrike's cloud-native platform is cheaper and more effective than on-premises security options.

Additionally, the company's operating performance shows that it's scaling right alongside its fast-growing clients. In 3.5 years, the percentage of customers with at least four cloud module subscriptions has vaulted from 9% to 61%. Since this is a high-margin, subscription-driven operating model, CrowdStrike has already achieved its long-term subscription gross margin target of 75% to 80%, despite still being very early in its growth cycle. The sky looks to be the limit for this AI-centric security provider.

A person perusing a pinned board on Pinterest using a tablet.

Image source: Pinterest.

Pinterest: 5-year estimated CAGR of 31.5%

Lastly, growth investors can pick up shares of social media up-and-comer Pinterest (PINS -0.75%) on sale. Though shares of the company have fallen by 20% since last month, Wall Street is forecasting a five-year CAGR of a cool 31.5%.

To keep with the theme, Pinterest was a clear beneficiary of the pandemic. Having people stuck in their homes meant many turned to the internet for entertainment and engagement. Last year, Pinterest added 124 million net monthly active users (MAU), which represented an increase of 37% to 459 million MAUs. However, Pinterest grew its user base by an average of 30% in the three years preceding the pandemic, too. In other words, the platform has been resonating with users for some time.

The greatest growth potential for the company can be found outside the United States. More than 90% of its net new MAUs originated internationally in 2020. Although average revenue per user (ARPU) outside the U.S. is only a fraction of ARPU within the U.S., the flipside is that Pinterest has the opportunity to double overseas ARPU many times over this decade. With 500 million MAUs now in sight, Pinterest should find it progressively easier to draw in ad revenue.