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

Three reasons to watch Lemonade (LMND -3.44%):

  1. Lemonade is down roughly 50% from its all-time high, with a market cap of $5.5 billion.
  2. During Lemonade's most recent quarter (Q4 2020), the company reported 87% year-over-year growth in "In Force Premium" and 56% year-over-year growth in subscribers.
  3. Analysts expect strong revenue growth for the next three to five years.

Three reasons to watch Fisker (FSRN -6.67%)

  1. Fisker is down roughly 49% from its all-time high, with a market cap of $4.27 billion.
  2. Its new electric vehicle, Ocean, is expected to start production in 2022. As of March 09, 2021, the company has reported over 14,000 reservations.
  3. Fisker has a strong balance sheet, with its most recent earnings showing no debt and over $900 million in cash.

Three reasons to watch DraftKings (DKNG -3.44%)

  1. DraftKings is down roughly 19% from its all-time high, with a market cap of $23.08 billion.
  2. DraftKings has made some strong acquisition moves in the past few months, increasing its media content and iGaming assets. 
  3. On April 13, 2021, DraftKings hired its first chief media officer to join the executive team, double-downing on its media content move. 

Click the video below for my full thoughts. 

*Stock prices used were the closing prices of April 12, 2021. The video was published on April 13, 2021.