Please ensure Javascript is enabled for purposes of website accessibility

These 3 Growth Stocks Are Down Big. Is It Time to Buy?

By Jose Najarro - Apr 12, 2021 at 11:00AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Here are a few reasons to add them to your watchlist.

In today's video I look at three growth stocks that are down double digits from their all-time 12-month highs. Below are three reasons to add these stocks to your watchlist as potential buys.

Three reasons to watch Peloton (PTON -0.55%):

  1. Peloton is down roughly 30% from its all-time 12-month high.
  2. On April 1, 2021, Peloton completed its acquisition of Precor. Peloton stated in its press release that "Precor is one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence."
  3. On March 8, 2021, Peloton announced its expansion into Australia.

Three reasons to watch Forest Road Acquisition (FRX)

  1. Forest Road is a special purpose acquisition company (SPAC) planning to merge with The BeachBody Company. Beachbody will be providing three major types of product: connected fitness, digital subscriptions, and nutritional products.
  2. Forest Road is down roughly 35% from its all-time 12-month high.
  3. From 2020 to 2025, BeachBody estimates a 30% CAGR for revenue and predicts that five out of the six years will be adjusted-EBITDA positive.

Three reasons to watch Tortoise Acquisition II (SNPR)

  1. Tortoise is a SPAC in talks to merge with Volta, a company that focuses on EV charging stations.
  2. As of 2020, Volta has 1,500 installed stations. It expects to increase this number to 3,142 by the end of 2021 and to over 25,000 by 2025.
  3. Tortoise is down roughly 39% from its all-time 12-month high.

Click the video below for my full thoughts. 

*Stock Prices used were the closing prices of April 9, 2021. The video was published on April 10, 2021. 

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Peloton Interactive, Inc. Stock Quote
Peloton Interactive, Inc.
$9.13 (-0.55%) $0.05
Tortoise Acquisition Corp. II Stock Quote
Tortoise Acquisition Corp. II
Forest Road Acquisition Corp. Stock Quote
Forest Road Acquisition Corp.

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 07/03/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.