With the market currently in a volatile state, now might not seem like the best time to buy stocks. On the other hand, the fact that stocks have seen their worst start to a year in more than half a century suggests that there are opportunities for investors to build positions in companies that will deliver very strong returns over the long term.

While the market could continue to see more turbulence in the near term, taking a buy-and-hold approach with top quality stocks right now could be a great path to building wealth. Read on for a look at two stocks you could regret missing out on. 

A person standing on a stack of gold coins.

Image source: Getty Images.

1. Airbnb

The travel industry is bouncing back in a big way now that pandemic-related restrictions have eased in many parts of the world, and Airbnb (ABNB 1.43%) is playing a leading role in the rebound. The company has continued to claim market share, and it should continue to benefit from a powerful network effect as more hosts, local experience providers, and guests join its service. 

Airbnb has already built a disruptive platform that has reshaped the travel and hospitality space, and the business has a very attractive long-term growth outlook. Of course, that hasn't stopped Airbnb stock from feeling the squeeze as the broader market has suffered big sell-offs this year. The company's share price is now down roughly 41.5% across 2022's trading.

Chart showing Airbnb's PE and PS ratios and market cap falling in 2022.

ABNB PE Ratio (Forward) data by YCharts

Like many other companies, Airbnb has seen intense multiple compression amid pressures shaping the broader market, but this is a stock worth pouncing on. Last quarter, the business posted a nearly 76% gross margin and managed to grow sales 74% year over year on a currency-neutral basis.

While the travel specialist still has a growth-dependent valuation, the business is growing at a rapid clip and is on track to post big profits. Airbnb is one of the largest holdings in my portfolio, and I think it's one of the best growth stocks you can buy right now. 

2. Take-Two Interactive

Depending on how you look at it, the video game industry might seem a bit shaky right now. While the industry has posted stellar growth over the last decade, sales have actually fallen significantly across the first half of this year. It's facing hardware shortages and tough comparisons to periods when pandemic conditions prompted people to seek entertainment and socialization through digital channels.

In fact, analysts are now predicting that overall sales for interactive entertainment will fall this year. That hasn't happened since 2015. While the overall industry backdrop is looking less favorable in the near term, I think buying Take-Two Interactive (TTWO 2.32%) stock right now would be a great move. 

Take-Two is best known for its hugely successful Grand Theft Auto franchise, but it's also responsible for billion-dollar franchises NBA 2K and Red Dead Redemption and a slew of other successful properties. The company also recently completed its acquisition of Zynga, the mobile games specialist responsible for popular series including FarmVille and Words With Friends. Altogether, Take-Two has a top-tier collection of intellectual properties and development resources, and it stands out as an attractive investment on the heels of recent valuation pullbacks.  The gaming company's share price trades down roughly 29% year to date and 41% from the all-time high that it hit last February, but I think it's fair to say that the business has never looked stronger. Despite some industry weakness in the near term, the long-term demand outlook for interactive entertainment remains very favorable, and Take-Two is amazingly well positioned to navigate ups and downs in the space. I think investors who take advantage of recent valuation pressures will score great returns from shares purchased at today's prices.