Growth stocks have started to recover from their earlier swoons, but not every former market darling is back on good terms with investors. There are plenty of quality stocks that are still trading more than 30% below their 52-week highs.

Coupang (CPNG -0.17%), Opendoor Technologies (OPEN), and Tencent Music Entertainment (TME -0.97%) are down between 32% and 48% through Tuesday's close. Let's see why these top stocks belong in your portfolio. Pack a passport and a pillow. We're going around the world. 

A woman surprised at money falling from above.

Image source: Getty Images.

Coupang: 32% off 

Let's start in South Korea where Coupang has emerged as the e-commerce platform of choice for a third of the country's more than 50 million people. It won't be easy to topple Coupang from the top. It has already built out more than 100 fulfillment centers, placing it within seven miles of 70% of South Korea's population. Place an order by midnight -- from goods to groceries -- and it will be at your door by 7 a.m. the next morning.

Coupang went public last month, trading as high as $69 on its first day of trading. You can pick it up today for almost a third of its peak value. The growth will surprise you for a dominant player. Net revenue soared 91% in 2020, picking up the pace from a 55% surge in 2019. It sees revenue decelerating to a 40% clip in 2021, but that could prove conservative. 

Coupang has used its market leadership to be a major player in everything from third-party order fulfillment to even restaurant delivery. Following in the footsteps of Bill Gates and Mark Zuckerberg, founder CEO Bom Kim launched his tech giant after dropping out of Harvard. You may as well take a look at Coupang before everybody else does.

Opendoor Technologies: 44% off

Another recent market debutante -- and for this we come back to the U.S. -- is Opendoor Technologies. It's one of Chamath Palihapitiya's worst-performing SPAC deals so far, but it's hard to deny its long-term potential. 

Opendoor is an early leader in iBuying, flipping real estate properties that it acquires and updates to make them more marketable. Opendoor had the misfortune of stumbling out of the gate after a disappointing showing in its first quarterly report as a public company last month. Revenue plummeted 80% as it sold just 849 homes, below the 5,013 it moved during the fourth quarter of 2019. 

It's all a matter of lousy timing, as Opendoor had put a hold to its iBuying business last year, and it was mostly clearing out its thinning inventory of existing homes. Opendoor was actually bracing its investors for an uglier performance. It finally resumed its operations and revenue is expected to more than double sequentially for the first quarter that ended two weeks ago. It will still be a 39% year-over-year decline at the midpoint of its guidance, but it's just getting ramped up again at this point. 

The Opendoor you see now isn't the one you will see later this year. It expects to have a presence in 42 different markets by the end of this year, doubling its footprint from where it was before. There are a lot of favorable trends in the real estate market right now, and once investors get past the intentional pandemic-triggered pause in its operations the opportunity to pick up Opendoor away from the earlier hype should pay off nicely. 

Tencent Music Entertainment: 48% off

We're back to Asia now, only this time we're in China where Tencent Music Entertainment is the top dog of digital tunes. Tencent Music Entertainment has 75% of the online music market in the world's most populous nation between its traditional streaming platforms and high-margin social karaoke stronghold. There are 622 million mobile monthly active users for its online music apps and 223 million monthly active users for its mobile social entertainment services. 

Tencent Music Entertainment's audience has dipped slightly over the past year -- and that's problematic -- but revenue still rose 14% in its latest quarter and 15% for all of 2020 as it got better at monetizing its traffic. On the online music side it's seen a 40% spike over the past year in paying customers. The same can't be said on the social end where it has experienced a 14% decline in premium users, but average revenue per user continues to grow on both fronts.

The model works, and Tencent Music Entertainment is very profitable. Even the company knows it's on sale right now. Two weeks ago it authorized a $1 billion share buyback program. Follow the money. 

Coupang, Opendoor, and Tencent Music Entertainment are growth stocks that have fallen out of favor. The lack of investor interest isn't likely to last long.